- Dollar to Naira Rate Today – Thursday, July 31, 2025
- Black market trades range from ₦1,540 to ₦1,550.
- Expected rate for July 31 hovers around ₦1,534, with
The Nigerian naira continued to show modest strength against the US dollar in both official and parallel markets. The latest official data shows stability following central bank policy settings. Below is the full breakdown:
| Market | Rate (₦ per $1) |
|---|---|
| Official (CBN / NFEM average) | ₦1,533.3 |
| Parallel (Black) Market | ₦1,540 – ₦1,550 |
| Forecast mid‑range | ₦1,534 |
Details:
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Official market: Data from the Central Bank of Nigeria places the closing rate at approximately ₦1,533.29 per US dollar on July 29, reflecting a slight appreciation from ₦1,534.20 the previous day.
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Black market: Bureau‑de‑change operators reportedly sold dollars between ₦1,540 and ₦1,550 as of July 29.
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Forecasts for July 31 suggest a mid‑range official rate of around ₦1,534, with expected variation between ₦1,511 and ₦1,557.
The Central Bank has kept the monetary policy rate steady at 27.50 percent to maintain the disinflation trajectory, as inflation eased to 22.22 percent in June. This policy continuity supports exchange rate stability.
