The naira fell to N1,600 per dollar at the close of trading on April 4, 2025, marking a 1.9% decline from N1,569/$1 the previous day, according to data from the Central Bank of Nigeria.
The drop comes as Trump-era tariffs continue to disrupt global markets, weighing on investor sentiment and currency stability.
This marks the naira’s weakest level since December 4, 2024, when it closed at N1,608 to the dollar.
The currency has depreciated by 3.9% in just the first four days of April, following a closing rate of N1,537/$1 at the end of March.
According to data from the CBN, the naira closed at ₦1,600/$1 on Friday, April 4th, reflecting a 1.9% depreciation from the previous day.
Intra-day trading saw the naira fluctuate between a high of ₦1,625/$1 and a low of ₦1,519/$1.
The NFEM rate, which represents the average exchange rate, closed at ₦1,567, marking the weakest performance of the naira this year and the lowest since December 4, 2024.
The Central Bank of Nigeria recently revealed that after accounting for liabilities, the country’s net external reserves stood at approximately $23 billion.
As of the end of 2024, the NFER rose significantly to $23.11 billion, the highest level in over three years.
