Nigeria’s broad money supply has declined for the third consecutive month this year, slipping slightly to N117.4 trillion in June 2025, according to the latest data from the Central Bank of Nigeria (CBN). 

The naira lost value against the haven currency in the official and parallel forex markets on Tuesday, even after starting the week with a sharp rise.

The Naira fell to its weakest level in more than a week on the parallel market on Tuesday, trading at N1,565/$1. 

The Naira began the week at N1,560/$ in the black market.  

The Nigerian currency witnessed a return of high market volatility in the Nigerian unofficial market amid increased demand and a strong U.S dollar index.

Currency traders have attributed the recent performance of the naira and the relative stability of the foreign exchange (forex) market to the excess dollar supply and the activities of the security agencies against forex speculators and hoarders. 

The naira converged on Monday, as the local currency stabilized in the parallel market while increasing slightly in value in the official market.

Nigeria’s revenue from exchange rate gains dropped sharply by 73% in the first half of 2025, plunging to N589.45 billion from N2.199 trillion recorded during the same period in 2024. 

The Naira closed the week on a high note in the parallel market, reaching N1,520/$1, making it the strongest performance for the currency throughout the week. This rate is N14 stronger than the official rate posted by the Central Bank of Nigeria (CBN), which stood at N1,534/$1 as of market close on Thursday. This development marks a continued appreciation trend...

The Nigerian naira's exchange rate stayed muted against the US dollar on the unofficial secondary foreign exchange market after the CBN decided to keep the MPR unchanged for the 7th straight time.

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has declared that Nigerians are regaining confidence in the naira, crediting this development to a combination of fiscal discipline and targeted monetary reforms. 

Nigeria’s external reserves have climbed to $40.11 billion as of July 2025, according to the Central Bank Governor, Yemi Cardoso.

The naira edged toward N1530/$ in the unofficial market at the start of the first trading session of the week.

The Naira is projected to appreciate to N1,450/$1 by the end of the year, strengthening from its current rate of N1,535.50/$1, amid improvements in fiscal and monetary conditions.   

The naira continued its recent streak of relative stability, closing the gap between the official and parallel exchange markets.  

The Naira continued its downward trend this week and currently trades at N1,555/$1 on the parallel market on Wednesday, according to Nairametrics market survey in Lagos.   

Analysts at Optimum Global have projected that the naira will trade between N1,500 and N1,600 in the second half of 2025, assuming positive macroeconomic conditions persist. 

The Nigerian currency maintained its bullish momentum, reaching a four-month high against the US dollar and closing at 1518/$ on the Nigerian Foreign Exchange Market, the country's official exchange market.   

The exchange rate closed the week with a mixed performance, as the naira recorded a slight depreciation in the official market but strengthened on the parallel (black) market. 

Nearly half of African currencies have shown signs of depreciation despite steady development across the continent, according to the latest edition of the Monthly Developments in the African Macroeconomic Environment report published by the African Export-Import Bank (Afreximbank) for June 2025. The report, which analyzed exchange rate dynamics for May 2025, revealed a mixed performance across African economies. While some...

The Nigerian currency is less than N30/$ away from breaking the key resistance level of N1500/$ in Nigeria's official market. 

The naira appreciated to N1,565 per dollar on Thursday at the parallel market, up from N1,580 per dollar on Wednesday, according to a Nairametrics market survey in Lagos. 

The naira remains in a consolidation phase against the British pound in the parallel market at N2,200/£ despite significant moderation in the British Pound at the global foreign exchange market. The Naira was muted against the British pound despite the Sterling’s correction phase amid concerns about the UK economy. The United Kingdom hosts Nigeria's largest diaspora population outside Africa. According...

The Nigerian currency showed some strength in the Nigerian foreign exchange market, while the haven currency dipped to its lowest level since February 2022 in the global currency market.

Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, Wamkele Mene, has called for a significant reduction in Africa’s reliance on the US dollar in intra-continental trade, arguing that the current dependence is both inefficient and unsustainable. 

The Naira broke the key resistance line at the black market while the greenback sank to a 3-year low in the global foreign exchange market.

Bureau De Change (BDC) operators have insisted that there is an extremely large amount of foreign exchange liquidity in the system that is unaccounted for.

The naira traded around the N1,600/$ mark on Tuesday in the unofficial market and depreciated to N1,550/$ in the Nigerian Foreign Exchange Market (NFEM).

Recent price movements indicate that the Nigerian currency has remained in a consolidation phase in the unofficial market, fluctuating between N2,150 and N2,250/£/£ this month due to increased buying pressure on the British pound in Nigeria's commercial capital. 

The exchange rate closed the week with a mixed performance, as the naira recorded a slight appreciation in the official market but weakened on the parallel (black) market.