CBN Exchange Rate Update on 1st September ‘ 25: Naira Struggles as Dollar, Pound, and Euro Strengthen
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Fatima Saif
- . September 1, 2025
- . Update: September 2, 2025 3:29 am
The Central Bank of Nigeria (CBN) has issued the most recent exchange rates, which indicate that the naira is still under pressure due to the fluctuation of global currencies. Monday saw the official rate of the naira at ₦1,520 to $1, ₦2,057 to £1, ₦1,107 to C$1, and ₦1,783 to €1. These numbers highlight the fact that Nigeria continues to struggle to stabilize its local currency against major currencies in the world. Businesses and individuals are paying close attention to the trends in the foreign exchange market with inflationary issues, increasing import prices, and economic insecurity.
Current CBN Exchange Rates (NGN)
| Currency | Rate (₦ per 1 unit) |
| US Dollar ($1) | ₦1,520 |
| British Pound (£1) | ₦2,057 |
| Canadian Dollar (C$1) | ₦1,107 |
| Euro (€1) | ₦1,783 |
Economic Impact and What Lies Ahead
The long-term underperformance of the naira has serious implications for various sectors. In the case of local businesses, an increase in import costs means higher operating values, and this cost is sometimes transferred to consumers through higher prices. The increasing prices of daily essential commodities further tighten the budget of households.
Economists claim that it will require policy reforms, more local production, and foreign investment to rebuild confidence in the naira. The interventions by the Central Bank in the forex market have been deemed as critical, though analysts are warning that interventions cannot be sustained without structural changes in the economy.
In the future, the stakeholders are paying close attention to the economic climate in the world, especially the interest rate decisions made by the US, the oil prices, and the trend in trade. These are the external forces that will decisively determine the currency outlook of Nigeria.
In the meantime, the exchange rate explains why Nigeria needs to diversify its economy, increase non-oil exports, and build domestic industries to decrease dependence on imports. The volatility of the naira will probably continue to be a burning topic up to that time.
