Victor EzejaAfter ending last month and beginning the week on a positive note, the Nigerian naira depreciated against the US dollar at the foreign exchange market on Friday, 4 July 2025.
The naira closed at N1,528.56 per dollar at the official market, according to data from the Central Bank of Nigeria (CBN).
Join our WhatsApp ChannelWhen compared with Thursday’s rate of N1,525.82 per dollar, this represents a loss of N2.73.
On Monday, 30 June 2025, the local currency appreciated to N1,529.71 from N1,539.23 it traded on Friday, 27 June, gaining N9.52 against the dollar. It continued to appreciate at the official market, rising to N1,526.15 on Wednesday, and N1,525.82 on Thursday, before recording a marginal depreciation on Friday.
At the black market, the naira fell to N1565 from N1,560 the previous day, reflecting a N5 loss.
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The International Monetary Fund (IMF) had on Wednesday, commended the Central Bank of Nigeria (CBN) for its foreign exchange market reforms.
In its 2025 Article IV Consultation report on Nigeria, the IMF praised the CBN for its foreign exchange market reforms that facilitated liquidity and price discovery.
