The naira recorded a marginal gain against the dollar in August, supported by a boost in Nigeria’s external reserves and rising foreign exchange inflows from foreign portfolio investors (FPIs) and diaspora remittances.
The local currency closed the month at N1,531.57 in the official foreign exchange (FX) market, reflecting improved liquidity conditions.
By the end of the month, the naira appreciated slightly by 0.14 percent as the dollar was quoted at N1,531.57 on Friday, the last trading day of the month, compared to N1,533.74 quoted on August 1, 2025, at the Nigerian Foreign Exchange Market (NFEM), according to data from the Central Bank of Nigeria (CBN).