As of August 7, 2025, the Nigerian Naira has recorded a slight drop against the US Dollar in the parallel market. Here’s the latest update:
Official Rate: 1 USD = ₦1,530.53 NGN, with a 0.02% increase from the previous day
Black Market Rate: 1 USD = ₦1,550 (buy) / ₦1,570 (sell), reflecting a modest depreciation.
The naira’s slight drop is attributed to seasonal demand ahead of international travel periods and sustained pressure from business-related forex needs. Without substantial injection of forex liquidity, the naira is likely to remain under pressure.
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