The Nigerian naira edged higher against the dollar in the official foreign-exchange market on Thursday for the second straight session this week, while performance in the informal market stayed unchanged. Central Bank of Nigeria figures showed the currency strengthened to 1,381.53 naira per US dollar on Thursday, compared with 1,382.18 naira per dollar traded on Wednesday. On a day-to-day basis, that represents an appreciation of 0.65 naira versus the dollar in the official window.
Official market: second straight day of gains
The latest move keeps the naira’s short-term trend in the regulated market on an upward track. In the official foreign-exchange market, Thursday’s rate of 1,381.53 naira per dollar was marginally stronger than Wednesday’s 1,382.18 naira per dollar.
- Thursday official rate: 1,381.53 naira per dollar
- Wednesday official rate: 1,382.18 naira per dollar
- Daily change in the official market: appreciation of 0.65 naira
Black market: no change in the rate
Despite the official-market improvement, the naira did not move in the informal or black market. It traded at 1,430 naira per dollar on Thursday, matching the rate exchanged on Wednesday.
- Thursday black-market rate: 1,430 naira per dollar
- Wednesday black-market rate: 1,430 naira per dollar
- Daily change in the black market: flat
Reserves rise as inflation cools slightly
The currency’s firmer tone in the official market comes alongside continued strengthening in Nigeria’s external buffers. Data from the central bank indicated that foreign reserves climbed further to 51.89 billion US dollars as of July 15, 2025.
There are also signs of easing price pressures that may support sentiment around the naira. The naira had appreciated against the dollar on Wednesday after Nigeria’s inflation slipped slightly to 15.91% in June.
- Foreign reserves: 51.89 billion US dollars (as of July 15, 2025)
- Context for Wednesday move: inflation eased to 15.91% in June
- Result: naira appreciated on Wednesday, followed by a further gain on Thursday in the official market
