Naira – CBN Rate Closed at N1586 against Dollar
The naira official rate quote on the Central Bank of Nigeria (CBN) FX platform settled at N1586 per dollar, unchanged from the previous day’s close in the absence of demand pressures.
The market experienced some level of stability for the last trading session in May 2025. The Nigerian Foreign Exchange Market (NFEM), the official rate for the CBN, closed at N1586.1524 per dollar, from N1586.20 on Thursday.
Forex market liquidity remains sufficient to match aggregate corporate demand for foreign currency, traders said, noting that the local currency will stay range-bound with the CBN FX interventions.
The authority has continued to keep eyes on the exchange rate at the official window and intervened when US dollar demand pressures redirect the rate to a level unacceptable to the CBN.
The closing exchange rate suggests that the Nigerian naira lost value when compared with the official exchange rate quote of N1580.44 per greenback at the beginning of the week. Analysts said FX interventions provided strong support for the naira value in the official window in the month. BVN Database Dispute: Court Delivers Judgment in NIBSS vs CBN Suit
