The Nigerian naira recorded a modest gain of ₦0.14 against the dollar, closing at ₦1,529.57 per USD on July 2, 2025, compared to ₦1,529.71 the previous day at the Nigerian Foreign Exchange Market (NFEM).
In the parallel market, the currency appreciated more significantly, closing at ₦1,560 per dollar—an improvement of ₦10, or 0.6%, from ₦1,570 the day before.
This development marks a continuation of the currency’s gradual stabilisation trend, driven by the Central Bank of Nigeria’s (CBN) ongoing foreign exchange reforms.
Key initiatives implemented by the apex bank include the unification of exchange rates, improved FX liquidity, and greater transparency in forex operations. These efforts are complemented by broader strategies aimed at controlling inflation, promoting fiscal prudence, and diversifying the economy.
As investor confidence improves and inflation is brought under control, the naira’s relative strength is viewed as a positive sign for Nigeria’s macroeconomic outlook.
