Dollar to Naira Exchange Rate Today – ₦1,499.21 Per $1 March 1, 2025

Naira Strengthens Amid Economic Reforms

As of March 1, 2025, the Nigerian naira has appreciated to ₦1,499.21 against the US dollar, reflecting the impact of recent economic reforms. This marks a significant improvement from previous rates, where the naira traded at approximately ₦1,700 per dollar.

Download Now

Get Ready for the Federal Inland Revenue (FIRS) Aptitude Test!
Access Our Exclusive Past Questions & Answers PDF Below!

Download Federal Inland Revenue Recruitment Test 2025 PDF Past Questions and Answers (PDF File)

Key Factors Influencing the Naira’s Appreciation:

1. Economic Reforms: The Nigerian government has implemented substantial fiscal and monetary reforms aimed at stabilizing the economy and strengthening the naira.
2. Increased Remittances: Efforts to boost remittance inflows have yielded positive results, with monthly remittances reaching significant levels.

1. Oil Production and Prices: The government’s budget projections are based on an oil price of $75 per barrel and a production target of 2 million barrels per day, contributing to foreign exchange earnings. citeturn0news0

Outlook:

Analysts remain optimistic about the naira’s trajectory, citing ongoing reforms and improved economic indicators. However, they emphasize the need for sustained policy implementation to maintain currency stability and foster economic growth.

For the latest updates on currency exchange rates, platforms like XE.com provide real-time data and historical trends.