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Dollar to Naira Exchange Rate Today Thursday July 10, 2025

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The exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) continues to fluctuate as economic pressures persist across Nigeria’s financial markets.

TJ News Nigeria reports that as of today, Thursday, July 10, 2025, the average exchange rate in the parallel market (black market) stands at approximately ₦1,532 per dollar.


Current Exchange Rates as of July 10, 2025

  • Parallel Market Rate: ₦1,532 / $1
  • CBN Official Rate (NFEM): ₦1,530–₦1,540 / $1 (subject to daily updates)
  • Peer-to-Peer (P2P) Rate: Often mirrors the black market rate closely.

Sources: ExchangeRate, traders in Lagos and Abuja, peer-to-peer platforms

 

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Also Read: How to Get a Business Loan in Nigeria Without Collateral (Latest Guide)


Weekly Movement and Market Trend

According to data reviewed by TJ News Nigeria, the exchange rate has remained relatively stable over the past week, with slight fluctuations ranging between ₦1,530 and ₦1,534. This marginal strength in the Naira follows continued efforts by the Central Bank of Nigeria (CBN) to stabilize the foreign exchange market through liquidity injections and policy adjustments.

In comparison to earlier months:

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  • February 2025: ₦1,491
  • May 2025: Peaked near ₦1,607
  • July 2025: Now averaging ₦1,532

What’s Driving the Exchange Rate?

Several key factors continue to influence the Naira’s value against the Dollar:

  • CBN FX Policy Reforms: Regular changes in forex windows and market liberalization.
  • Oil Prices & Dollar Inflows: As Nigeria relies heavily on crude oil revenue, any fluctuation in global prices directly affects dollar supply.
  • Demand Surge: Summer travel, school fees, and import obligations increase demand for foreign currency.
  • Speculative Activities: Traders buying dollars in anticipation of further devaluation also impact rates.

Parallel Market vs. Official Rate

While the official NFEM (Nigeria Foreign Exchange Market) rate remains within the ₦1,530–₦1,540 range, many Nigerians continue to rely on the black market due to access restrictions, faster transactions, and less documentation.

However, analysts caution that the wide gap between the two markets could lead to future currency pressures if not addressed through reforms.


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Summary of Today’s Dollar to Naira Rates

Market Type USD to NGN Rate
Parallel (Black) ₦1,532
P2P (Fintech/Online) ₦1,532–₦1,534
CBN Official (NFEM) ₦1,530–₦1,540

Note: Rates vary by location and transaction volume.


Expert Outlook

Currency analysts predict that unless dollar supply improves significantly through exports, diaspora remittances, or foreign investments, the naira may remain under pressure throughout Q3 2025.

Dr. Aminu Bala, a financial analyst based in Abuja, told TJ News Nigeria:

“The forex market remains highly sensitive. Any drop in oil earnings or delays in fiscal reforms could push the naira beyond ₦1,550 in coming weeks.”


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Tips for Currency Buyers and Businesses

  • Compare rates before large transactions to avoid unfavorable deals.
  • Use official channels (banks, fintech apps) when necessary for documentation and accountability.
  • Avoid hoarding dollars, as the CBN may intervene unexpectedly to drive rates down.

TJ News Nigeria will continue to monitor the FX market daily and publish verified rates to guide readers and businesses.

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