Lagos, July 18, 2025 – The Nigerian currency, Naira, again lost N5 to the dollar at the official foreign exchange market on Thursday, closing at N1,536 to the dollar.
The exchange rate was N1,531 to the dollar on Wednesday.
The highest quoted rate at the market was 1,538 to the dollar, while the lowest quoted rate was N1,520.
Dealers attributed the sliding value of the naira at the market to increasing demand for foreign exchange in the face of low supply.
The Central Bank of Nigeria had injected $50 million dollars into the foreign exchange market last week which led to slight appreciation of the naira on Wednesday.
Meanwhile, the currency is being exchanged at the black market in Lagos at between N1540 and N1,545 on Friday.
