The Naira weakened against the US dollar across both official and black market trading windows on Tuesday, August 5, 2025, despite starting the week on a positive note.
According to the Central Bank of Nigeria’s official exchange data, the Naira slid slightly to ₦1,533.10 per dollar, down from Monday’s ₦1,531.95—marking a ₦1.15 depreciation in just 24 hours. The decline also reflected in the parallel market, where the currency dropped from ₦1,560 on Monday to ₦1,565 on Tuesday, losing ₦5.
This dip comes on the heels of a brief period of strength linked to a reported boost in Nigeria’s external reserves, which climbed to $39.54 billion as of August 1, 2025. Despite this, the currency has struggled to sustain its gains amid ongoing concerns about forex liquidity and inflationary pressures.
Market analysts say continued instability in the foreign exchange market signals the need for more policy clarity and interventions from the Central Bank to stabilize the Naira’s performance and restore investor confidence.
