The exchange rate of the Naira to the United States Dollar in the parallel market remained unchanged at N1,540/$1 on Thursday, the last trading session of July 2025.
However, the Nigerian currency gained 80 Kobo or 0.05 per cent against the greenback yesterday in the Nigerian Autonomous Foreign Exchange Market (NAFEM) window to settle at N1,533.69/$1 compared with the N1,534.49/$1 it closed on Wednesday.
It further improved its value against the Pound Sterling in the same market segment during the session by N13.71 to finish at N2,025.52/£1 compared with the N2,039.23/£1 it was traded at midweek, and firmed up against the Euro by N9.08 to quote at N1,751.63/€1, in contrast to the preceding day’s N1,760.71/€1.
Market analysts expect that the Naira will remains at the range through the remaining months of the year, adding that ongoing reforms and improvements in macroeconomic stability outshine global uncertainties and other domestic challenges.
The FX market is also supported by Dollar sales from exporters, foreign portfolio investors, and oil companies selling to fund their local obligations.
Meanwhile, the digital currency market succumbed to profit-taking amid new tariff tensions from US President Donald Trump, with data revealing there was up to a $8 billion profit-taking spike in July as new whales offload Bitcoin (BTC) near highs.
President Trump’s renewed tariff measures, announced Thursday, deepen the consolidation phase.
Dogecoin (DOGE) slumped by 8.0 per cent to sell at $0.2060, Cardano (ADA) lost 7.3 per cent to trade at $0.7258, Solana (SOL) slid by 6.5 per cent to close at $169.55, Ripple (XRP) depreciated by 5.9 per cent to $2.96, Litecoin (LTC) declined by 5.4 per cent to $105.12, Ethereum (ETH) went down by 5.3 per cent to settle at $3,664.80, Binance Coin (BNB) crashed by 3.4 per cent to end at $775.91, and Bitcoin (BTC) depleted by 0.4 per cent to quote at $115,135.34, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.