Trump’s Tariff Pause: Naira Breaks Record Against Dollar

The naira recorded its highest appreciation against the dollar at the official foreign exchange market on Thursday after United States of America President, Donald Trump paused tariff increase.

Data from the Nigerian Exchange Marker, NFEM, showed that the naira strengthened to N1,605 per dollar on Thursday at the official market from N1,629.93 traded on Wednesday.

This means that the naira gained N24.93 against the dollar on a day-to-day basis.

This is the second time the naira has appreciated and the highest gain so far this week.

Meanwhile, at the black market, several Bureau De Change operators in Wuse Zone 4, Abuja confirmed to the Newsmen that the naira remained stable at N1,620 per dollar on Thursday, the same exchange rate as the previous day.

Recall that in past days the naira has recorded more depreciation than appreciation following the global impact of Trump’s April 2, 2025 tariff announcement.

However, on Wednesday Trump announced a 90-day pause in reciprocal tariffs on countries except China.

 

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