🇳🇬 NIGERIA TV INFO – FX MARKET UPDATE (July 23–24, 2025)
📉 Naira Depreciates in Official Window
The Nigerian naira slipped to ₦1.537 per US dollar on Wednesday in the Nigerian Foreign Exchange Market (NFEM), marking a further decline amid ongoing forex pressures.
💱 Outpaces Parallel Market
Surprisingly, this official rate slightly underestimated the parallel (black‑market) rate, where the naira traded around ₦1,535/US$1—₦2 stronger than the NFEM rate—revealing a rare inversion in the spread.
📊 Market Context
The uptick in the NFEM rate comes even as the parallel market showed resilience, pushing the disparity to an unusually negative ₦2.
Central Bank of Nigeria (CBN) data confirm the official rate moved from ₦1,536 to ₦1,537, while the parallel rate improved from