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As Nigeria’s foreign exchange market continues to show signs of relative stability, the naira slightly appreciated against the U.S. dollar in both the official and parallel markets.
TJ News Nigeriareports that the official exchange rate stood at ₦1,521.31 per $1 as of Friday morning, reflecting a slight strengthening from previous days where the naira traded closer to ₦1,529.
Official Dollar to Naira Rate – July 18, 2025
The mid-market rate, often used by financial institutions and global money transfer platforms such as Wise, showed a rate of ₦1,521.31 per U.S. dollar.
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According to historical data, the naira gained marginally compared to earlier this week, when it hovered around ₦1,529.
This rate represents the best available estimate of the naira’s real value on the open market and is widely used for international transactions and business settlements.
Forex Market Rates Today
Data sourced from PoundSterlingLive indicates that the dollar traded within a range of ₦1,527.64 to ₦1,530.69 in the open forex market on Friday.
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This variance is consistent with daily fluctuations in Nigeria’s forex market, where traders react to changing demand and supply forces, economic data, and policy directions from the Central Bank of Nigeria (CBN).
Black Market (Aboki) Rate Today
In the parallel or black market, the exchange rate stood at approximately ₦1,525 per dollar in major cities such as Lagos, Abuja, and Kano.
This slight margin over the official rate continues the recent trend of convergence between the official and black-market segments, a development analysts attribute to CBN’s tightened FX policies and increased transparency in FX supply.
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Summary of Dollar to Naira Exchange Rates – July 18, 2025
| Market Type | Exchange Rate (₦/US$1) |
|---|---|
| Official (Mid-Market) | ₦1,521.31 |
| Forex Market Range | ₦1,527.64 – ₦1,530.69 |
| Black Market | ~₦1,525 |
Market Insights
TJ News Nigeria learnt that the naira’s modest recovery this week may be attributed to:
- Recent CBN FX auctions aimed at increasing dollar supply
- Higher oil receipts and remittances
- Moderate decline in speculative demand for the dollar
However, experts warn that the improvement could be temporary unless structural reforms and export-driven policies are sustained.
How This Affects Nigerians
For ordinary Nigerians and businesses:
- Importers are likely to see a slight reduction in cost of goods, depending on timing of FX access
- International students and travelers may benefit from better conversion rates via official platforms
- Remittance recipients should expect roughly ₦1,521 to ₦1,525 per dollar, depending on channel used
Comparison With Other Days This Week
Earlier in the week, the dollar traded at:
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- ₦1,529.10 on Monday
- ₦1,526.70 on Wednesday
- Now at ₦1,521.31 on Friday
This trend represents a gradual recovery for the naira in both official and parallel markets.
CBN’s Position on Exchange Rate Stability
The Central Bank of Nigeria (CBN) has repeatedly expressed commitment to a unified and market-reflective exchange rate system, while clamping down on speculators and illegal FX dealers.
The apex bank has also continued its FX policy reforms by:
- Closing the official window gap
- Enhancing FX liquidity through bureau de change regulations
- Working to clear forex backlogs in the system
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Final Thoughts
While today’s rates reflect a relatively stable outlook for the naira, analysts say the currency remains vulnerable to global oil price shifts, monetary tightening in the U.S., and local fiscal pressures.
For now, the convergence between the official and parallel markets is a positive signal for Nigeria’s FX outlook—though sustained progress will depend on policy consistency and improved investor confidence.
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