The Nigerian naira held firm against the US dollar on Thursday, with the official exchange rate hovering around ₦1,370 per dollar in the Nigerian Foreign Exchange Market (NFEM).
This stability comes as the greenback continues its broad-based rally, reaching its highest level since May 2025 and intensifying pressure on emerging-market currencies across the continent.
The resilience of the naira at this level is notable given the macro headwinds.
The US dollar index has surged recently, driven by shifting global currency dynamics that have weakened most major peers.
For Nigeria, maintaining the ₦1,370 level suggests that central bank interventions or market liquidity conditions are currently balancing the external pressure from a stronger dollar.
Domestic monetary conditions remain a key backdrop for the currency's performance.