After 4-day decline, naira rises again in official and black markets

The Naira strengthened somewhat successful the authoritative marketplace connected Friday, March 28, 2025, trading astatine ₦1,536.82 per dollar.

According to information from the Central Bank of Nigeria (CBN), the currency gained ₦1.84, reflecting a 0.11% summation from the ₦1,538.66 per dollar recorded connected Thursday.

Naira appreciates against dollar successful official, achromatic markets aft four-day decline
Source: UGC

This emergence came aft 4 days of insignificant declines betwixt Monday and Thursday. On March 24 (Monday), the Naira closed astatine ₦1,531.19 per dollar, followed by ₦1,532.39 connected Tuesday and ₦1,537.62 connected Wednesday.

Despite these flimsy fluctuations, the Naira has remained reasonably unchangeable since December 2024, mostly owed to CBN's efforts to amended transparency successful the overseas speech market.

Black Market Exchange Rate

In the Lagos Parallel Market (Black Market), traders were buying dollars astatine ₦1,540 and selling astatine ₦1,550 connected Friday, March 28, 2025, based connected accusation from Bureau De Change (BDC) sources.

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Source: Legit.ng