Exchange Rate Continues to Rise for One Week Across Official Market

The Naira has continued to extend its week-long appreciation stretch across official and parallel foreign exchange markets following the Sallah holidays.

Nairametrics reports that the naira appreciated to N1605/$1 in the parallel market on Thursday, ahead of Sallah, from N1610/$1 the currency traded at on Wednesday.

The Federal Government had officially declared Friday, June 6, and Monday, June 9, 2025, as public holidays across Nigeria to commemorate the Eid-ul-Adha.
Data from the Central Bank of Nigeria’s (CBN) website shows that the currency closed at N1,540/$1 – the first day of trading on Tuesday, up from N1,551/$1 on Thursday.

The data further shows that the naira closed at N1,564/$1 on Wednesday, which is an appreciation from N1,579/$1 on Tuesday and N1,580/$1 on Monday, effectively completing a week-long appreciation rally from last week.

Similarly, data from Nairametrics sources from BDC operators in Lagos shows a similar pattern.

Nairametrics data shows the currency stabilized between N1600-N1610/$1 during the period. According to Nairametrics sources, the currency traded at N1600/$1 on Tuesday, which is an appreciation from N1605/$1 on Thursday and N1610/$1 on Wednesda

Source: Nairametrics.com

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