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Currency News
Nigerians trading foreign currency today saw the naira largely hold its ground. A dollar changed hands for roughly ₦1,382 in the parallel market, while banks and licensed dealers quoted the official CBN figure near ₦1,328.
This report breaks down what you would pay for the dollar, the pound, the euro, and several other currencies right now, comparing the street price with the government-backed rate.
Dollar, Pound, Euro: Black Market Rates Today
The figures below reflect what “aboki” dealers in Lagos, Abuja, and other commercial hubs are currently charging for foreign notes.
| Currency | Code | Buy (₦) | Sell (₦) |
|---|---|---|---|
| US Dollar | USD | 1,382 | 1,387 |
| British Pound | GBP | 1,865 | 1,880 |
| Euro | EUR | 1,560 | 1,575 |
| Canadian Dollar | CAD | 1,000 | 1,050 |
| Australian Dollar | AUD | 850 | 1,000 |
| South African Rand | ZAR | 70 | 90 |
| UAE Dirham | AED | 370 | 385 |
| Chinese Yuan | CNY | 190 | 210 |
| Ghanaian Cedi | GHS | 100 | 115 |
| CFA Franc (West Africa) | XOF | 2,350 | 2,390 |
| CFA Franc (Central Africa) | XAF | 2,250 | 2,300 |
Black market rates change often. They also vary slightly by city and dealer.
Official CBN Exchange Rates Today
For comparison, here is what the Central Bank of Nigeria has set as the official benchmark. Commercial banks and licensed Bureau de Change operators price their transactions off these numbers.
| Currency | Code | CBN Rate (₦) |
|---|---|---|
| US Dollar | USD | 1,328.50 |
| British Pound | GBP | 1,762.92 |
| Euro | EUR | 1,514.89 |
| Swiss Franc | CHF | 1,612.65 |
| Chinese Yuan | CNY | 198.05 |
| Saudi Riyal | SAR | 353.78 |
| South African Rand | ZAR | 81.16 |
| Japanese Yen | JPY | 8.41 |
Why the Two Rates Don’t Match
Nigeria’s foreign exchange supply flows mainly through the CBN, which limits how many dollars enter the official system at any time. That supply rarely keeps pace with demand from importers, travelers, and families paying school fees abroad.
When banks can’t fill every request, buyers head to street dealers instead. That extra demand is exactly why the parallel market consistently prices currency higher than the official window.
Other Economic Developments Shaping the Naira
A few other stories from the wider economy are worth watching alongside today’s rates:
- Consumer prices grew more slowly again, with inflation cooling to 15.39% for the third month running.
- Nigeria’s foreign reserves climbed to $55.25 billion, and the current account surplus jumped by nearly 68% year on year.
- Trading volume on the official FX window fell almost 30%, to $2.74 billion, even though the naira still firmed up by ₦1.40 there.
- Government officials and the CBN put pen to a fresh six-point agreement aimed at cooling inflation and keeping fuel prices steady.
- Crude oil prices eased after Washington and Tehran sat down for talks at the United Nations.
Be wary of anyone offering to “reserve” or “lock in” today’s rate ahead of a payment — that’s a common trick used to collect money upfront. Verify any rate directly with a licensed BDC or your bank before you send a kobo.
Bottom Line
Today’s naira picture looks calm on the surface, but parallel market prices can move within hours. Before you buy or sell, it pays to double-check a live rate rather than relying on numbers from earlier in the day.
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