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The naira depreciated to N1,513 against the United States dollar in the Nigerian Foreign Exchange Market (NFEM) on Monday, September 8, 2025.
However, the naira appreciated to N1,530 per dollar in the parallel market from N1,535 per dollar recorded last Thursday.
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Data published by the Central Bank of Nigeria (CBN) showed that the exchange rate for the local currency rose to N1,513 per dollar from N1,511.5 per dollar last Thursday, indicating N1.5 depreciation for the currency.
The margin between the parallel market and NFEM rate narrowed to N17 per dollar from N23.5 per dollar last Thursday.
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