UPDATED: Naira Rises Against US Dollar In Parallel Market

UPDATED: Naira Rise Against US Dollar In Parallel Market

The naira yesterday, experienced a slight appreciation against the United States dollar at the official foreign exchange window.

Data from the Central Bank of Nigeria (CBN) revealed that the domestic currency closed at ₦1,534.21/$1 on Monday, July 28, 2025, compared to ₦1,534.72/$1 recorded at the close of trading on Friday, July 25, 2025, representing a marginal gain of 51 kobo.

In contrast, the parallel market witnessed a mild depreciation of the naira, which exchanged at ₦1,538/$1 on Monday, compared to ₦1,537/$1 at the close of the previous trading session.

Meanwhile, Nigeria’s external reserves recorded an increase, rising to $38.77 billion as of Friday, July 25, 2025, from $38.63 billion on Thursday, July 24, 2025.