The Nigerian Naira recorded a slight appreciation in the parallel market on Monday, August 18, 2025, strengthening to ₦1,550 per US dollar, up from ₦1,560/$ recorded over the weekend.
However, in contrast, the local currency weakened at the Nigerian Foreign Exchange Market (NFEM), where it depreciated to ₦1,534.80/$, down from ₦1,530/$ last Friday—reflecting a ₦4.80 drop.
According to data released by the Central Bank of Nigeria (CBN), the shift in the official rate marks a slight decline in the naira’s value within the regulated market.
As a result of these movements, the gap between the official and parallel market rates narrowed significantly from ₦30 per dollar over the weekend to just ₦15.20/$.
