Home News Naira Drops ₦1.18 in Value at Official Exchange Window

Naira Drops ₦1.18 in Value at Official Exchange Window

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Here’s the latest update on the naira’s performance at the official FX window:

  • Official rate: According to TradingEconomics, the naira traded at ₦1,549.56 per USD as of June 23, 2025, marking a slight sit‐back decline from prior sessions
  • Recent movement: On June 20, the naira slid to ₦1,549.49/$, weakening by ₦0.28 compared to the previous day
  • Broader trend: While these daily shifts seem modest, this marks the third consecutive day of depreciation in late June

So, the “₦1.18 drop” reflects a modest depreciation in the official FX rate. The core drivers remain limited dollar supply, persistent demand, and ongoing intervention by the Central Bank.

What this means ➤

Impact AreaImplication
ImportersPay slightly more due to a weaker naira at ₦1,549.5 per dollar.
Monetary policyCBN is likely to step in further to stabilize rates given repeated declines.
Investor outlookContinued volatility might weigh on confidence until inflows improve.

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