The Naira has gained N3.42 against the dollar, trading at N1526.15 in the official market as of July 2, 2025. This represents a 0.22% appreciation.
The Central Bank of Nigeria’s reforms on the foreign exchange market have been praised by the International Monetary Fund (IMF) for supporting price discovery and liquidity, which has brought stability to the Naira.
The official rate is N1526.15 per dollar while the black market rate is N1562 per dollar.
The IMF has commended the Central Bank of Nigeria (CBN) on its foreign exchange market reforms, stating that these measures have curbed forex volatility and improved transparency and market integrity.
