Nigerian Naira Hits 2025 High Against US Dollar, Analysts Cite Improved Liquidity
The Nigerian Naira has strengthened against the US dollar, reaching its highest level in 2025. Data from the Nigerian Foreign Exchange Market (NAFEM) and the Central Bank of Nigeria revealed the Naira rose to N1,480 per dollar on Tuesday, marking an improvement from the previous day's closing rate of N1,485.
Analysts attribute this appreciation to increased liquidity, reduced speculative activities, and the CBN's efforts to stabilize the currency. The Naira also gained against the British pound sterling and the euro.
Experts believe that the market confidence and stability have been maintained despite structural challenges. The parallel market exchange rate stood at 1 US dollar to 1 Naira.
Overall, the Naira's recent gains are supported by steady foreign exchange inflows and growing external reserves.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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