Business
Naira Gains Value Versus Dollar – July 4 Update
By Benjamin Abioye
On Friday, July 4, 2025, the naira exchanged for ₦1,535 to 1 US dollar at the parallel market in Nigeria.
This rate reflects how individuals and businesses are trading dollars for naira outside official financial institutions, where the forces of demand and supply determine value without regulatory control.
This means that for every one US dollar, you could get ₦1,535 on July 4, 2025. Compared to Thursday’s rate of ₦1,555, this shows a notable improvement in the naira’s value by ₦20. The naira gained more strength against the dollar, signaling a clearer positive shift in sentiment in the informal currency market.
This stronger gain may suggest reduced demand pressures or increased supply of dollars, pointing to a more favorable market balance for traders and currency users.
The parallel market continues to offer a real-time snapshot of currency trends in Nigeria, especially amid ongoing volatility and uncertainty in the official market. Although unofficial, it is closely monitored by businesses, importers, and investors who rely on more accessible, flexible exchange channels.
Typically, the exchange rate in this market is higher than the official rate, as it operates without Central Bank regulation and responds more directly to investor sentiment, currency availability, and market dynamics.
Today’s rate reflects a clear improvement in the naira compared to Thursday, July 3, when the exchange rate stood at ₦1,555 per dollar. While fluctuations remain, the naira’s stronger showing offers a rare boost in an otherwise turbulent exchange environment.
Currency values are shaped by multiple economic indicators, including inflation, interest rates, capital flows, trade balances, and monetary policy. Exchange rates fluctuate based on these forces, with both fixed and floating systems influencing global currency markets.
As a result, many observers look to this market as a practical gauge of short-term economic sentiment and currency direction.
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