The naira depreciated across the foreign exchange (FX) market on Wednesday, July 30, 2025, trading at N1,550 against the United States dollar.
By the close of trading at the parallel market, fondly called black market, the naira, on Wednesday, weakened by 1.2% to close at N1,550 per dollar, compared to N1,532 quoted the last week.
This represents a N18 loss against the dollar.
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Data published by the Central Bank of Nigeria (CBN) showed that the local currency also depreciated slightly at the official Nigerian Foreign Exchange Market (NFEM).
The dollar was quoted at N1,534.52 on Wednesday, compared to N1,533.18 quoted on Tuesday, indicating a marginal N1.34 drop.
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