Victor EzejaThe Nigerian naira recorded a mixed performance across foreign exchange market windows on Friday, 25 July 2025.
While it closed flat at the official market, the local currency weakened at the parallel (black) market. The Central Bank of Nigeria (CBN) foreign exchange data show that the naira traded at ₦1,534.71 per dollar on Friday at the official market. This is a slight appreciation (N0.07) when compared with Thursday’s rate of ₦1,534.79.
Join our WhatsApp ChannelThe CBN data show that the naira traded between a high of ₦1,536 and a low of ₦1,534 per dollar at the official market on Friday.
At the black market, the naira fell by ₦5 from ₦1,535 per dollar on Thursday to ₦1,540 on Friday.
The naira opened the week with a slight depreciation to ₦1,532.54 per dollar on Monday, 21 July, from ₦1,532.34 on Friday, 18 July.
On a week-on-week basis, the local currency lost ₦2.37 at the official market.
This comes as Nigeria’s external reserves increased week-on-week by $778.34 million from $37.85 billion on Thursday, 17 July, to $38.63 billion on Thursday, 24 July.
Within the week, the National Bureau of Statistics released the rebased report of the country’s Gross Domestic Product (GDP), which revealed a growth of 3.13 per cent in the first quarter of 2025 and the size of the economy is now ₦372.82 trillion (about $243 billion).
The CBN also retained the benchmark interest rate at 27.5 per cent and other monetary policy parameters, in a bid to continue fighting inflation, which remains high at 22.22 percent as of June 2025.
The naira has remained relatively stable in the foreign exchange market in recent months. This has been attributed to CBN’s strategic intervention by supplying FX to the market to boost liquidity, and also the increased inflow through Foreign Portfolio Investment (FPI).
Analysts at Comercio Partners within the week made a projection that the naira would appreciate to about ₦1,400 per dollar in the second half (H2) of the year.
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.
