Tag: Nigeria Naira

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Naira Down To N1,555/$ In Parallel Market

Yesterday, the Naira fell to N1,555 per dollar in the parallel market, down from N1,550 per dollar on Monday.

But the Naira appreciated to N1,534.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell slightly to N1,534.5 per dollar from N1,534.8 per dollar on Monday, indicating 30 kobo appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N20.5 per dollar from N15.2 per dollar on Monday.

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Naira loses 19 kobo, ends week at ₦1,533.74 per dollar

The Nigerian Naira closed the trading week slightly weaker against the U.S. dollar, losing 19 kobo at the official foreign exchange market on Friday, August 1, 2025.

According to figures published on the Central Bank of Nigeria’s (CBN) official website, the Naira ended Friday at ₦1,533.74 per dollar, compared to ₦1,533.55 recorded on Thursday.

The local currency had shown minor fluctuations throughout the week. On Wednesday, it traded at ₦1,534.52, reflecting a marginal depreciation from Tuesday’s rate of ₦1,533.18.

The movement signals continued pressure on the local currency amid ongoing efforts by monetary authorities to stabilise the forex market. While the depreciation is slight, it reflects broader challenges in Nigeria’s foreign exchange dynamics, including demand-supply imbalances and capital inflow constraints.

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