Today, Tuesday, July 29, 2025, the naira saw only slight movement against the US dollar, while currency watchers noted comparatively steady trading in both the official and black markets.
This is in the midst of continuous efforts by the Central Bank of Nigeria (CBN) to stabilise the local currency and the continuous pressure on Nigeria’s foreign exchange reserves.
According to the Central Bank’s most recent update on July 27, the exchange rate at the official window was roughly ₦1,526.98 per $1 as of the most recent data available.
According to market monitoring platforms, average rates are expected to be ₦1,531/$1, indicating a slight upward movement in the current market trends. Buying price stands at ₦1,531 while selling at ₦1,533.
According to currency analysts, the modest increase is due to persistent uncertainty regarding Nigeria’s monetary policy trajectory as well as continued demand for foreign exchange, especially from importers and remittance agents, BrandSpur banking and finance news desk reports.
