NGN Market Update
25 Jul 2026 • 01:27 GMT
The Nigerian naira is currently trading near 30-day highs against the US dollar, around 0.000732, slightly above its recent 3-month average. The currency has been relatively stable within a narrow 2.2% range from 0.000724 to 0.000740. This stability follows recent interventions by the Central Bank of Nigeria, which injected significant dollar liquidity into the market earlier this year, supporting the naira’s strength.
Looking ahead, the positive outlook is supported by sustained economic reforms, higher external reserves, and better access to foreign currency through resumed bureau de change operations. Experts expect the naira to stay within the N1,400 to N1,500 per dollar range in 2026, providing a cautious sense of stability.
Meanwhile, the US dollar remains supported by geopolitical tensions and rising oil prices, which have kept it strong in the global markets. Although the USD has shown some slight pullback recently, it still trades at elevated levels. Overall, the Nigerian currency maintains its recent gains amid favorable economic prospects, but traders should remain alert to the global and local developments that could influence its course.
