The naira continued its current streak of relative stability, closing the hole between the official and parallel trade markets.
On Friday, the foreign money traded at N1,535 to the greenback within the parallel (black) market, simply N1 lower than the N1,536/$1 fee recorded on the official market.
Information on the Central Bank of Nigeria’s (CBN) web site reveals the naira closed at N1,536/$1 on Thursday, a depreciation from N1,531/$1 on Wednesday.
The naira traded at N1,540/$1 on Thursday within the parallel market, indicating a 0.33% appreciation by Friday, Nairametrics information reveals.
Intra-day buying and selling on Thursday reveals that the naira traded highest at N1,538/$1 and lowest at N1,520/$1, in line with information on CBN web site on Friday.
Nigeria’s overseas trade reserves have climbed to $37.78 billion, up from $37.6 billion — a 0.37% improve — signaling a notable enhance within the nation’s exterior asset base. The event comes as a part of ongoing efforts to stabilise the naira and entice overseas funding.
The uptick is basically attributed to increased greenback inflows from oil exports, diaspora remittances, and renewed investor confidence pushed by current financial and financial reforms.
Analysts say the slight improve in reserves bodes properly for the economic system, because it strengthens the Central {Bank}’s means to defend the naira, finance imports, and meet exterior obligations.
The Nationwide Bureau of Statistics (NBS) experiences that Nigeria’s headline inflation fee eased to 22.22% in June 2025, down from 22.97% recorded in Could 2025.
The info reveals that on a year-on-year foundation, the headline inflation fee was 11.97% decrease than the speed recorded in June 2024, which was at 34.19%.
The NBS famous that, on a month-on-month foundation, the headline inflation fee in June 2025 stood at 1.68%, representing a rise of 0.15 share factors from the 1.53% recorded in Could 2025.
This means that the typical value degree rose at a sooner fee in June in comparison with Could 2025.
The proportion change within the common Client Value Index (CPI) for the 12 months ending June 2025, in comparison with the earlier 12-month interval, was 26.58%—a 3.42 share level decline from the 30.00% recorded in June 2024.
CBN has introduced that the 301st assembly of the Financial Coverage Committee (MPC), the nation’s apex decision-making physique on rate of interest coverage, will likely be held on Monday, July 21, and Tuesday, July 22, 2025, at its headquarters in Abuja.
On the three hundredth MPC assembly held in Could 2025, the CBN opted to keep up a conservative stance, holding the Financial Coverage Fee (MPR) unchanged at 27.5%.
