New Exchange Rate for Naira Against US Dollar, Pound, Euro, Other Currencies in All FX Markets
- The Nigerian naira appreciated against the United States dollar in the official foreign exchange markets
- New data showed that the naira improved by 0.045% at the close of the trading week on Thursday in the NFEM window
- Traders in the parallel market also known as the black market, shared new exchange rates for the dollar, pound, and euro
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian naira closed on a positive note against the US dollar on Thursday, August 8, in the official foreign exchange market.
According to data from the Central Bank of Nigeria, the naira exchanged at N1,533.73 per dollar in the official NFEM.
Source: Getty Images
Thursday's exchange rate indicates a slight appreciation of 0.045% from the previous day’s closing rate of N1,534.43/$1.
Naira against other currencies
The good news continued for the naira against the pound sterling in the official market on Thursday as it gained N15.16 to close at N2,059.03/£1, compared with Wednesday’s rate of N2,043.87/£1. This extended the strengthening trend seen during the week.
Similarly, the naira gained against the euro, appreciating by N4.39 to settle at N1,787.56/€1 on Thursday, stronger than Wednesday’s closing rate of N1,783.17/€1.
The gains in the foreign exchange market reflect improving confidence and increased supply, helping to ease pressure.
Here is a snapshot of the latest exchange rates August 8, 2025
- CFA Franc: N2.73
- Chinese Yuan (Renminbi): N220.27
- Danish Krone: N240.9
- Euro: N1,797.11
- Japanese Yen: N11.02
- Saudi Riyal: N422.86
- South African Rand: N88.25
- Swiss Franc: N1,926.81
- Pound Sterling: N2,136.39
Source: Getty Images
Naira falls against dollar at black market
In the parallel market, also known as the black market, it was the same story for the naira against the US dollar.
Traders who spoke to Legit.ng confirmed that the Nigerian currency appreciated against the dollar.
Abdullahi, a Bureau De Change (BDC) trader said:
He said:
The dollar rate appreciated slightly between Wednesday and Thursday, rising from a selling rate of N1,562 to N1,563 and a buying rate of N1,554 to N1,555, leaving a margin of N8.
While the dollar experienced some movement, the exchange rates for the euro and the British pound remained unchanged during the period, holding steady at N1,785 for the euro and N2,095 for the pound."
Top Nigerian company predicts new naira to dollar exchange rates
Earlier, Legit.ng reported that there is a new projection for the naira against the US dollar in the official foreign exchange markets.
Comercio Partners and the investment company have shared conditions that will further help the naira appreciate.
The research firm added that under the base-case scenario, the report expects the naira to remain in the N1,500 to N1,600 range supported by steady foreign exchange inflows, continued Central Bank of Nigeria (CBN) interventions, and stable global commodity prices.
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Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
