- Dollar to Naira Rate – August 7, 2025
The US dollar is trading at approximately ₦1,527.50 to ₦1,530.00 in the parallel market, while the official Central Bank of Nigeria (CBN) rate stands slightly lower at around ₦1,520.00 to ₦1,525.00.
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EKO HOT BLOG reports that the exchange rate continues to reflect pressure from demand for foreign exchange in both informal and official markets.
USD to NGN Rates – August 7, 2025
| Market Segment | Rate per USD (₦) |
|---|---|
| Parallel Market | 1,527.50 – 1,530.00 |
| Official Market | 1,520.00 – 1,525.00 |
Market Context and Trends
So far in 2025, the dollar-to-naira rate has ranged from a low of ₦1,491.40 in February to a peak of ₦1,607.05 in early May. The average exchange rate this year currently stands at approximately ₦1,547.00.
Although the naira has regained some ground since May’s highs, forex scarcity, inflation, and low foreign reserves continue to exert downward pressure on the local currency. The spread between official and parallel market rates remains significant, indicating sustained structural challenges in the country’s foreign exchange system.
Implications and Outlook
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Importers and travellers sourcing dollars from the parallel market now pay about ₦1,528 per dollar.
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Official channels, while cheaper, often come with delays and limited access.
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Without key policy shifts or external funding inflows, analysts expect the naira to gradually weaken towards ₦1,550 to ₦1,600 by year-end.
Despite interventions and monetary tightening, confidence in the naira remains fragile, with businesses and individuals continuing to hedge in dollars as a store of value.
