August 4, 2025

Nigeria’s Foreign Exchange

General

Naira Closes Gap as It Trades at ₦1,535/$1 in Parallel Market, Nears Official Exchange Rate

In what appears to be a rare moment of convergence in Nigeria’s foreign exchange landscape, the naira on Friday traded at ₦1,535 to the United States dollar in the parallel market, just ₦1 shy of the ₦1,536/$1 recorded at the official Nigerian Autonomous Foreign Exchange Market (NAFEM). The marginal difference has sparked renewed discussions among

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