Sele Media Africa
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Reported by Amos Dachung – Sele Media Africa Reporter
September 17, 2025
Naira Drops to ₦1,535/$ in Parallel Market Amid Liquidity Strains
The Nigerian naira has depreciated to ₦1,535 per US dollar in the parallel market, up from ₦1,525 the previous trading day, as traders cite reduced foreign exchange supply and rising demand for the dollar.[1]
What’s Driving the Slide
• Dealers in the parallel market report a tightening of dollar liquidity, with fewer dollars available for sale.[1]
• Speculative demand has picked up, pushing the black‑market rate higher.[2]
• The gap between the parallel rate (₦1,535) and the official Nigerian Foreign Exchange Market (NFEM) rate (₦1,485.05) has widened.[1]
Implications
• Importers and businesses who depend on foreign currency will face increased costs, which could feed into higher prices for imported goods.
• Inflation pressures may intensify if the naira’s weakness persists, particularly for essentials.
• The widening spread between official and parallel rates could incentivize more trading in unofficial channels.
For more updates on foreign exchange movements and economic news, stay tuned to www.selemedia.org.
Citations:
1. Vanguard News: www.vanguardngr.com/2025/09/naira-down-to-n1535-in-parallel-market-2/?utm_source=chatgpt.com
2. Prime Business Africa: www.primebusiness.africa/naira-strengthens-to-n1535-1-as-market-confidence-improves/?utm_source=chatgpt.com
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