Victor EzejaThe Nigerian naira appreciated at the official window of the foreign exchange market on Monday, 30 June 2025, ending the month on a positive note.
Data published by the Central Bank of Nigeria (CBN) showed that the naira traded at N1,529.71 at the Nigerian Foreign Exchange Market (NFEM) on Monday, reflecting a N9.52 gain on a day-on-day basis when compared to N1,539.23 per dollar on Friday, 27 June.
Join our WhatsApp ChannelOn a month-on-month basis, the naira gained N56.44 when compared to N1,586.15 recorded on 30 May 2025.
At the parallel or black market, the local currency remained flat at N1,570 per dollar on Monday, the same exchange rate recorded at the close of trading last week.
The naira experienced volatility at the official foreign exchange market last week.
It had after witnessing a rebound midweek, dropped again on Friday, but appreciated at the black market window.
This comes as Nigeria’s external reserves dropped by $3.5 billion in the first half of 2025 from $40.877 billion at the end of 2024 to $37.369 billion as of 26 June 2025.
