Naira Closes at N1,599 per Dollar in Official Market

The Naira appreciated against the US dollar on Monday, closing at N1,599.00/$1 in the official market.

This is according to data published on the Central Bank of Nigeria’s (CBN) website on Monday.

This represents a notable appreciation from N1,626.00/$1 on Friday and N1,630.50/$1 on Thursday.

This marks a notable recovery for the local currency after it began the previous week on a weaker note.

On Monday, 7 April 2025, the Naira had depreciated to N1,629.00/$1, compared to the preceding Friday’s close of N1,600.00/$1. It later settled at N1,626.00/$1 on Friday, 11 April, before Monday’s rebound.

In the parallel market, the Naira traded at N1,605.00/$1 on Monday, strengthening from Friday’s rate of N1,624.35/$1, according to currency traders at the popular Wuse Zone 4 exchange hub in Abuja.

The Naira also showed varied performance against other global currencies in the official market. It traded at N2,126.39 per SDR, and at N1,770.13 per Euro, based on figures from the CBN.

A Bureau De Change (BDC) operator in Wuse Zone 4, Abuja, confirmed the Monday rate, noting a slight improvement in dollar availability compared to the previous week.