The naira traded within a narrow range in both the official and parallel markets as demand for foreign currency remained steady.Below is a comprehensive table showing the latest exchange rates for major international currencies.
SEE ALSO,
Exchange Rates Table
| Currency | Official Market Rate (₦) | Parallel / Black Market Rate (₦) | Mid-Market / Indicative Rate (₦) |
|---|---|---|---|
| US Dollar (USD) | ₦1,390 – ₦1,398 | ₦1,400 – ₦1,420 | ₦1,405 |
| Euro (EUR) | ₦1,520 – ₦1,540 | ₦1,650 – ₦1,700 | ₦1,680 |
| British Pound (GBP) | ₦1,790 – ₦1,820 | ₦1,960 – ₦2,000 | ₦1,980 |
| Chinese Yuan (CNY) | ₦188 – ₦192 | ₦195 – ₦205 | ₦200 |
| Japanese Yen (JPY) | ₦9.8 – ₦10.2 | ₦10.6 – ₦11.0 | ₦10.8 |
| Canadian Dollar (CAD) | ₦1,020 – ₦1,050 | ₦1,080 – ₦1,110 | ₦1,095 |
| Swiss Franc (CHF) | ₦1,520 – ₦1,550 | ₦1,600 – ₦1,640 | ₦1,620 |
| Saudi Riyal (SAR) | ₦368 – ₦372 | ₦380 – ₦390 | ₦385 |
| UAE Dirham (AED) | ₦370 – ₦375 | ₦382 – ₦395 | ₦388 |
Market Insight
The official rate reflects transactions carried out within the Central Bank of Nigeria regulated foreign exchange window.
Meanwhile, the parallel market rate represents prices offered by Bureau de Change operators and informal currency traders.
However, the mid-market rate serves as the global benchmark used by international financial platforms and currency converters.
Exchange rates can change throughout the day depending on demand, liquidity, and market conditions. Therefore, individuals and businesses should confirm rates before completing any foreign exchange transaction.
NGN vs USD GBP – Stay with Sojworldnews for daily exchange rate updates, business news, and economic analysis.
Leave a Reply