The Nigerian naira has recorded its highest appreciation against the dollar at the official foreign exchange market on, following the decision by U.S. President Donald Trump to pause tariff increases.
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the naira strengthened to ₦1,605 per dollar on Friday, up from ₦1,629.93. This marks a gain of ₦24.93 against the dollar within 24 hours.
This is the second time this week the naira has appreciated, and it represents the most significant daily gain so far.
Meanwhile, in the black market, several Bureau De Change operators in Wuse Zone 4 reported that the naira remained stable at ₦1,620 per dollar, maintaining the same rate as the previous day.
In recent days, the naira had witnessed more depreciation than appreciation due to the global economic impact of Trump’s tariff announcement on April 2, 2025.
However, a shift occurred on Wednesday when Trump announced a 90-day pause in reciprocal tariffs on all countries except China.
