As the Central Bank of Nigeria (CBN) continued to protect the official window from outside pressures and parallel market swings, the exchange rate between the US dollar (USD) and the Nigerian naira (NGN) stayed comparatively steady today, Thursday, July 31, 2025.
As of the most recent market close on Tuesday, July 29, 2025, the naira was worth ₦1,533.18 to the dollar, according to the official exchange rate published by the Nigerian Foreign Exchange Market (NFEM), which is overseen by the CBN. This number is unchanged, and unless there is a major market intervention or demand shock, only slight movement is anticipated on Thursday.
The exchange rate maintained a tight band that reflected continued liquidity management and policy tightening, with a daily high of ₦1,535.50 and a low of ₦1,520.00, according to the CBN’s official data. To fight inflation and currency instability, the apex bank has maintained a conservative monetary policy stance throughout 2025, maintaining the Monetary Policy Rate (MPR) at 27.50% for the third consecutive month.
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CBN Governor Olayemi Cardoso recently stated that “stabilising the naira remains a top policy priority,” reinforcing the bank’s commitment to monetary discipline and foreign exchange reform, BrandSpur banking and finance news desk reports.
The parallel market is still trading at a premium, according to reports from street-level and bureau de change (BDC) operators, despite the official window appearing to be relatively calm. According to unofficial sources, in some areas of Lagos, Abuja, and Port Harcourt, the naira is currently worth between ₦1,590 and ₦1,620 per dollar.
