Naira Rises by 15.28% Against Dollar as CBN Releases New Exchange Rates
The Nigerian naira has recorded one of its most significant rebounds in recent years, gaining 15.28% against the U.S. dollar over the last five months. This achievement comes on the back of reforms introduced by the Central Bank of Nigeria (CBN) and renewed investor confidence in the nation’s economy.
Naira’s Strong Recovery
From trading as low as ₦1,800/$ earlier in the year, the naira has now appreciated to around ₦1,525 per U.S. dollar by the end of August 2025. According to government officials, this is not by chance but a result of deliberate measures such as:
- Clearing over $4 billion in FX backlogs
- Increasing oil revenues and foreign inflows
- Boosting diaspora remittances
- Unifying multiple FX windows into a transparent single exchange rate
These steps have improved liquidity and restored confidence in Nigeria’s financial markets.
Latest CBN Exchange Rates
The CBN’s official report on exchange rates for the end of August 2025 shows:
- U.S. Dollar (USD): ₦1,531.45 (from ₦1,535.61 the previous day)
- Pound Sterling (GBP): ₦2,064.25 (from ₦2,076.42)
- Euro (EUR): ₦1,789.18 (slightly stronger)
This data confirms the naira’s best performance in months, stabilizing across major global currencies.
External Reserves Strengthen
Nigeria’s external reserves have grown steadily, now standing at over $41 billion. This cushion gives the CBN the strength to maintain interventions in the forex market, further stabilizing the naira.
Why This Matters for Nigerians
The rebound of the naira brings multiple benefits to businesses and individuals, including:
- Lower import costs for goods and services
- Improved investor confidence, attracting foreign investments
- Price stability in essential commodities and services
- Economic clarity, as the unified FX system eliminates confusion
Summary
| Economic Indicator | Current Status |
|---|---|
| Naira Appreciation | +15.28% in five months |
| Official USD Rate | ₦1,531.45 (August 2025) |
| External Reserves | Over $41 billion |
| Key Drivers | Oil inflows, FX reforms, remittances |
Final Thoughts
The naira’s appreciation is a positive sign for Nigeria’s economy. With consistent reforms, stronger reserves, and renewed investor interest, the currency may continue on its path to stability. However, sustaining this growth will require disciplined policies and ongoing commitment to transparency in the forex market.