Full List: Naira Ranks Among Global Currencies Performing Against US Dollar
- The naira has been ranked among the best-performing currencies against the US dollar
- The Nigerian currency has appreciated by 13.5% against the US dollar in the last few months
- The performance is in both the official and unofficial foreign exchange markets
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, the stock market, and broader market trends.
Nigeria’s currency, the naira, has been ranked among the top-performing currencies globally, placing seventh as it strengthens against the US dollar.
This was revealed in data compiled by Visual Capitalist, covering countries with a minimum GDP of $250 billion.
Source: Getty Images
Here is a ranking of top-performing currencies against the US dollar
Israel (Israeli Shekel – +20.2%)
The Israeli shekel emerged as the top-performing currency globally, supported by strong economic fundamentals and resilient capital inflows.
South Africa (South African Rand – +16.4%)
The rand ranked third globally, driven by rising metals prices, improving domestic conditions, and ongoing economic reforms, Business Insider reports.
Nigeria (Naira – +13.5%)
The naira ranked seventh globally, reflecting improved investor confidence and better foreign exchange management.
Recent policy adjustments and efforts to stabilise the FX market have contributed to the currency’s recovery. Increased capital inflows and tighter monetary measures have also supported the naira’s appreciation.
Global currency rally
Several currencies across the world have posted double-digit gains against the US dollar over the past year.
This trend has been driven by shifting capital flows, improving economic fundamentals, and changes in global monetary policy expectations.
A key factor behind the rally is the weakening of the US dollar, which has come under pressure due to uncertainty surrounding US economic policies.
Source: Getty Images
Naira appreciates
Meanwhile, the naira further appreciated against the US dollar in the various segments of the foreign exchange (FX) market on Thursday, April 9.
At the black market, the Nigerian currency improved its value yesterday by N20 to quote at N1,390/$1 compared with the previous day’s rate of N1,410/$1.
CBN data shows that in the Nigerian Foreign Exchange Market (NAFEM) window, the naira gained N12.50 or 0.9 per cent against the greenback to trade at N1,359.32/$1, in contrast to midweek’s price of N1,371.82/$1.
In the same official market, the local currency gained N14.89 against the Euro to sell at N1,589.18/€1 versus N1,604.07/€1, and traded flat against the Pound Sterling at N1,844.83/£1.
Speaking on the performance of the naira, Aminu Gwadabe, the President of the Association of Bureau De Change Operators of Nigeria (ABCON), told Legit.ng:
"Declining buffers and local currency strength a reflected policy balancing act conflicts.
"The CBN should sustained less orthodox regimes and embracing home grown hanging fruits of stakeholders engagement to achieve positive market sentiments & price sustainability."
Foreign inflows into banks hit $23.22bn
Earlier, Legit.ng reported that Foreign capital inflows into Nigeria’s banking sector surged by 93.25% year-on-year to $13.53 billion in 2025, up from $7.00 billion recorded in 2024.
Data from the National Bureau of Statistics capital importation report showed that banks remained the dominant destination for foreign investment, accounting for $13.53 billion out of the total $23.22 billion recorded in 2025, representing 58.26% of total inflows, compared to 56.81% in 2024.
Quarterly data showed that inflows into the banking sector began at $3.13 billion in the first quarter, rising 51.3% from $2.07 billion in the corresponding period of 2024.
Source: Legit.ng
