Victor EzejaThe Nigerian naira has recorded further appreciation at the official market.
The Central Bank of Nigeria (CBN) data show that the naira strengthened to N1,533.18 per U.S. dollar at the Nigerian Foreign Exchange Market (NFEM) on Tuesday, 29 July 2025.
Join our WhatsApp ChannelThis means the naira recorded a marginal gain of N1.02 when compared to Monday’s exchange rate of N1,534.20 per dollar.
The local currency resumed the week relatively flat in the official window on Monday, from N1,534.71 recorded at the close of the trading session on Friday.
The CBN data showed that there was an intraday high of N1,535 per dollar, and a low of N1,520 on Tuesday. However, the official spot rate closed at N1,532 per dollar.
The Naira’s positive outlook comes amid CBN’s intervention in the FX market to boost liquidity.
According to reports, the apex bank recently sold $81 million to banks and other authorized dealers to reflate the US dollar volume available for supply to companies and other eligible FX users.
Meanwhile, Nigeria’s gross external reserves sustained an uptrend, reaching $39.141 billion as of Monday, 28 July 2025, according to CBN data.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
