The naira ended the trading week on a stronger note, appreciating slightly to close at N1,534.72 per U.S. dollar in the official foreign exchange market on Friday, according to figures released by the Central Bank of Nigeria.

This marks a marginal gain of 4.52 kobo or 0.05 percent from Thursday’s rate of N1,534.79, capping off a week of modest fluctuations for the local currency.

Analysts say the modest appreciation reflects a possible boost in market confidence and may signal the impact of ongoing monetary interventions by the apex bank.

Throughout the week, the naira hovered within a narrow band. It fell to N1,535.62 on Wednesday, slightly weaker than Tuesday’s rate of N1,535.24, while Monday opened with a loss of 20 kobo, setting a cautious tone for the week.

Despite the pressure, the naira regained ground steadily and ended the week on a relatively stronger footing than where it started.

Market watchers say the week’s performance underscores continued volatility in the forex market, but also points to tentative progress in the broader effort to stabilise the exchange rate.

With regulatory reforms and tighter oversight still underway, economists remain cautiously optimistic about the naira’s outlook in the coming weeks.