The Nigerian Naira showed a slight appreciation in value against the US Dollar, trading at ₦1,532.39 per dollar in the official market on Tuesday, March 25, 2025. This marks a small improvement from ₦1,531.19 recorded on Monday, according to data from the Central Bank of Nigeria (CBN).
Despite this gain, the black market exchange rate remains significantly higher, with the dollar trading for as much as ₦1,568. The CBN had earlier announced the unification of all foreign exchange market segments, allowing the naira to trade freely in the Investors and Exporters (I&E) window. This move was meant to stabilize the currency, but the gap between official and parallel market rates persists.
The CBN’s policy changes, introduced in June 2023, aimed to remove trading limits and encourage transparency in the forex market. The naira’s current fluctuations reflect ongoing market adjustments as Nigeria moves toward a more flexible exchange rate system.