Naira strengthens to N1,597.70/$1 as CBN reforms narrow official-black market exchange rate gap

Nigeria’s currency, the naira, recorded a notable appreciation against the US dollar at the official foreign exchange window on Monday, May 12, 2025, closing at N1,597.70/$1, according to data published by the Central Bank of Nigeria (CBN). This marks a 0.58% gain or N9.30 compared to last Friday’s closing rate of N1,607.00/$1. [...]The post Naira strengthens to N1,597.70/$1 as CBN reforms narrow official-black market exchange rate gap appeared first on National Daily Newspaper.

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