- Dollar to Naira Exchange Rate for August 5, 2025
- Rate has ranged between ₦1,491 and ₦1,607 this year.
- Stability hinges on oil prices, forex supply, and fiscal reforms
The Nigerian currency showed slight stability on Tuesday as the naira traded at ₦1,509.03 per US dollar in the official and parallel markets.
| Date | 1 USD = NGN |
|---|---|
| August 5, 2025 | ₦1,509.03 |
The latest figure reflects a mild improvement from highs recorded in May when the dollar peaked at ₦1,607.05. Market analysts attribute the current trend to improved foreign exchange inflows from remittances and moderate interventions by the Central Bank of Nigeria.
So far in 2025, the naira has fluctuated between ₦1,491.37 (its strongest level on February 3) and ₦1,607.05 (its weakest on May 8). The average rate for the past two months has hovered around ₦1,550.
Experts point to three major factors shaping the market:
-
Oil Price Movements: Global crude prices have steadied, slightly easing pressure on Nigeria’s reserves.
-
Foreign Exchange Supply: Increased liquidity from investment inflows has supported the naira’s performance.
-
Monetary Policies: Adjustments by the Central Bank have helped balance demand and supply, though volatility persists.
Dollar to Naira for August 5
For businesses, importers, and individuals making foreign transactions, the current rate offers slight relief compared to earlier spikes. However, analysts warn that sustained stability depends on broader economic reforms and consistent forex inflow
