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Nigerian economy

Naira drops to 0.17% against dollar 

Honesty Victor
Last updated: July 5, 2025 10:24 am
By Honesty Victor
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Naira and Dollar
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The Naira on Friday experienced a slight depreciation at the official market, trading at N1,528.56 to a dollar.

Data obtained from the website of the Central Bank of Nigeria (CBN) showed that the Naira lost N2.73.

This represents a 0.17 per cent loss when compared to N1,525.82 recorded on Thursday.

The Naira, which opened the week on Monday with a gain of N9.52 against the dollar, held steady gains until Thursday.

On Wednesday, the local currency gained N3.42 against the dollar and received commendation from the International Monetary Fund (IMF).

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The IMF, in its 2025 Article IV Consultation report on Nigeria, commended the CBN over its foreign exchange market reforms that supported price discovery and liquidity.

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