As of April 30, 2025, the Nigerian Naira has recorded a modest appreciation against the US dollar in the parallel market, trading at ₦1,615 per $1. This marks a slight improvement from the ₦1,620 rate observed just a day earlier, indicating a possible shift in forex market sentiment.
In the official Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also saw a marginal gain, trading at ₦1,602.30 per dollar—up from ₦1,602.63. These figures suggest a narrowing gap between the official and black market rates, a trend that may reflect the impact of recent monetary policies and increased efforts at market stabilization by the Central Bank of Nigeria.
This convergence between market rates could be a positive sign for investors and businesses, as it signals potential improvements in forex liquidity and economic confidence. However, the forex market remains volatile, and stakeholders are advised to monitor further developments closely.
Stay tuned for more updates on Nigeria’s financial markets.
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