Nigeria’s currency, the naira, recorded a marginal gain against the US dollar at the official exchange window on Monday, July 8, 2025, following renewed efforts by the Central Bank of Nigeria (CBN) to stabilise the forex market.
According to official data from the CBN, the naira appreciated to N1,528.33 per dollar, compared to N1,528.56/$1 recorded on Friday. This marks a modest gain of 23 kobo.
In the parallel market, the naira showed stronger performance, appreciating by N5 to exchange at N1,555/$1, up from N1,560/$1 the previous day.
READ ALSO: Naira Under Pressure as Dollar Soars to ₦1,605 on Parallel Market
The local currency also gained ground against the British pound, rising by N10 to trade at N2,150/£1, from the previous rate of N2,160/£1.
However, the naira remained unchanged against both the Canadian dollar and the Euro, closing at N1,200/CA$1 and ₦1,800/€1 respectively.
The marginal gains come as the CBN intensifies policy efforts aimed at boosting dollar supply, managing inflation, and curbing volatility in the forex market.