Business • Created February 12, 2025 01:20

Naira trades at highest level in 2025, nears N1,500/$ at black market

  The Nigerian naira is at its strongest level in the unofficial market this year amid improved market fundamentals and ongoing reforms by the Central Bank of Nigeria. The naira buying price in the black market was quoted at N1,520/$ in the early hours of Tuesday in Lagos Analyst say the CBN’s FX sale to […]

Naira trades at highest level in 2025, nears N1,500/$ at black market
Naira trades at highest level in 2025, nears N1,500/$ at black market

 

The Nigerian naira is at its strongest level in the unofficial market this year amid improved market fundamentals and ongoing reforms by the Central Bank of Nigeria.

The naira buying price in the black market was quoted at N1,520/$ in the early hours of Tuesday in Lagos

Analyst say the CBN’s FX sale to BDC operators amid a drop in FX demand has been responsible for the development.

 

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