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 Area | Implication |
|---|---|
| Importers | Pay slightly more due to a weaker naira at ₦1,549.5 per dollar. |
| Monetary policy | CBN is likely to step in further to stabilize rates given repeated declines. |
| Investor outlook | Continued volatility might weigh on confidence until inflows improve. |
