Abuja – The Nigerian Naira had a mixed week against the U.S. dollar. This happened between March 14 and 21, 2025. The official and black markets showed different results.
Diverging Paths: Official vs. Black Market
The Central Bank of Nigeria reported a drop in the official market. It fell by N18.96. It went to N1,536.89 per dollar on Friday from N1,517.93 the previous week. This shows the currency’s challenges.
But, the black market saw a small gain. It roses by N10 in the same period. It closed at N1,580 per dollar on Friday, up from N1,590 the week before.
The difference between the two markets highlights different demand pressures. Experts say speculation and access to foreign currency play a role.
The changes in both markets show the Naira is still unstable. Businesses and consumers face challenges because of this. The Naira is struggling to find a stable value against major currencies.
[…] wasn’t just the parallel market celebrating; the official exchange market also posted gains for the naira. The national currency climbed by ₦4.57 against the US dollar. Fresh data from the Central Bank […]