Victor EzejaThe Nigerian naira crashed at the official foreign exchange market on Friday, 11 July 2025, ending the week on a negative note.
The Central Bank of Nigeria (CBN) data showed that the naira traded at ₦1,530.26 per dollar on Friday, reflecting a loss of ₦4.28 when compared to ₦1,525.98 recorded on Thursday, 10 July.
Join our WhatsApp ChannelThe CBN data showed that the Naira traded between a high of ₦1,535 and a low of ₦1,516 per dollar on Friday.
The local currency had opened the week on Monday, 7 July with a marginal appreciation (₦1,528.33) from the previous week’s ending of ₦1,528.56 per dollar. After falling slightly to ₦1,529.22 on Tuesday, 8 July, the naira rose to a four-month high of ₦1,520.74 against the dollar on Wednesday, before dropping again to ₦1,525.98 on Thursday.
At the parallel market, also known as black market, the local currency remained flat at ₦1,550 per dollar on Friday.
On a week-on-week basis, the naira lost ₦1.7 at the official market, but gained ₦20 at the black market.
Prime Business Africa reports that despite fluctuations, the Naira traded within the ₦1,500 per dollar range across official and parallel windows of the foreign exchange market throughout the week.
The naira has maintained a relative stability in recent times, which analysts attribute to the CBN’s consistent interventions in the foreign exchange market.
READ ALSO: Naira Stability: Analysts Project Nigeria’s FX Reserves To Hit $41bn By Year End
In its 2025 mid-year review, Afrinvest West Africa Limited said the stability of the naira is due to: “improved market transparency, tech-driven trading, strategic FX interventions, higher OMO yields, reduced FX demand for energy imports—thanks to Dangote Refinery and suppression of speculative trading.”
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.
