The Naira gained slightly against the U.S. Dollar as the official exchange rate moved to ₦1,536.82 per dollar on Friday, March 28, 2025, from ₦1,538.66 the previous day. This is according to data from the Central Bank of Nigeria (CBN).
Despite this small appreciation, the black market rate remains higher, with the usdt trading at ₦1,550 per dollar. The CBN had previously unified all forex markets to streamline exchange rate operations, allowing transactions to flow through the Investors & Exporters (I&E) window.
The Nigerian government has also adopted a free-floating exchange rate, meaning the value of the Naira is now determined by market forces. This shift is expected to impact businesses and individuals who rely on foreign exchange for trade, education, and travel.
