The Naira appreciated to ₦1,497.5 per dollar at the official market on Monday, its strongest performance since March 4, 2025. The gain was driven by improved foreign exchange liquidity and reduced demand pressure.

CBN Monetary Policy Committee member, Prof. Murtala Sagagi, projected that the currency could strengthen further to about ₦1,400/$ before the end of 2025, citing rising crude oil production, increased capital inflows, and a stronger balance of payments.

Meanwhile, the US Dollar Index fell to 97 points, its lowest level since February 2022, as the dollar weakened against major currencies, boosting gold prices to a record $3,680.