The Central Bank of Nigeria (CBN) on Monday, April 15, 2025, announced the official exchange rate of the US Dollar at ₦1,604.4809, reflecting a slight decline in the value of the greenback compared to last week’s rate.
The rate marks a 0.48% drop from the ₦1,612.2368 recorded at the start of the previous week on April 7, 2025, as the naira shows marginal resilience amid ongoing fiscal and monetary reforms.
Despite this week’s slight dip, the dollar has appreciated against the naira over the course of the month. The dollar opened April at ₦1,531.2451 on April 2, resulting in a 4.78% increase so far this month on the CBN’s official platform.
Key Figures at a Glance (As of 9:03 AM, April 14, 2025):
- Sell Rate: ₦1,604.4809
- Buy Rate: ₦1,603.4809
- Change from Previous Day: +₦63
- Percentage Change: +0.79%
- Naira to Dollar Equivalent: ₦1 = $0.00062
Highs and Lows:
- 30-Day High: ₦1,629.94 on April 9, 2025
- 30-Day Low: ₦1,531.25 on April 2, 2025
- 52-Week High: ₦1,629.94 on April 9, 2025
- 52-Week Low: ₦1,478.22 on January 31, 2025
The latest data suggests continued volatility in the forex market, with pressures from both domestic and global economic activities influencing exchange rates. Analysts say the CBN’s gradual intervention, as well as recent efforts to unify the FX market, may be helping to slow the rate of depreciation.
Market watchers will be monitoring closely as the Federal Government resumes key trade policies and reforms, which are expected to impact forex supply and demand in the coming weeks.
