The exchange rate of the Naira to the United States Dollar ended at N1,526.10/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, September 1, 2025, compared with the N1,531.45/$1 it was traded on Friday, August 29, 2025, indicating an appreciation of N5.35 or 0.35 per cent.
Also, the domestic currency improved its value against the Euro in the official market by N1.97 to quote at N1,787.21/€1 against N1,789.18/€1, but lost N2.08 against the Pound Sterling to close at N2,066.33/£1 versus the previous session’s N2,064.25/£1.
In the black market, the exchange rate of the Nigerian Naira and the greenback remained unchanged yesterday at N1,545/$1.
Support came as the supply side remained buoyant supported by foreign portfolio investors’ inflows and FX sales to banks by the Central Bank of Nigeria (CBN).
The apex bank sold $170 million to authorised dealers and banks last week after spotting a mild run against the local currency at the official window. Also, offshore investors’ participation at the open market operations conducted strengthened Dollar inflows at the supply side.
As for the cryptocurrency market, it gained on Monday as investors remained optimistic that there could be a cut in US interest rates this month.
Traders cite Federal Reserve’s Chair Jerome Powell’s comments at Jackson Hole, which could open the door to rate cuts in September, as the trigger while a weaker US jobs market has strengthened the case for easing.
All eyes are now on Friday’s non-farm payrolls where analysts expect around 45,000 new jobs, with private payrolls closer to 60,000 and the unemployment rate edging up to 4.3 per cent
A soft print could lock in a September rate cut, which in turn could revive risk appetite in assets like crypto.
Ripple (XRP) grew by 3.3 per cent to $2.81, Solana (SOL) gained 3.2 per cent to sell at $204.06, Litecoin (LTC) expanded by 2.8 per cent to $110.78, and Cardano (ADA) jumped by 2.7 per cent to trade at $0.8213.
Further, Bitcoin (BTC) rose by 2.4 per cent to $110,346.00, Dogecoin (DOGE) appreciated by 2.4 per cent to $0.2145, Ethereum (ETH) went up by 0.3 per cent to $4,393.21, and Binance Coin (BNB) increased by 0.2 per cent to $853.08, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.