Naira exchange rates today — The Nigerian Naira traded relatively stable against major global currencies on Tuesday despite persistent demand in the foreign exchange market. While the official Nigerian Foreign Exchange Market (NFEM) continued to benefit from improved dollar liquidity, the parallel market remained active as businesses, travelers, and importers sought foreign currencies outside the official window.
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Foreign Exchange Rates Today
| Currency | Official Rate (₦) | Black Market Buy (₦) | Black Market Sell (₦) |
|---|---|---|---|
| US Dollar (USD) | 1,373.25 | 1,375 | 1,385 |
| British Pound Sterling (GBP) | 1,848.62 | 1,830 | 1,870 |
| Euro (EUR) | 1,601.48 | 1,585 | 1,630 |
| Canadian Dollar (CAD) | 990.00 | 996 | 1,004 |
| Australian Dollar (AUD) | 885.50 | 890 | 910 |
| Swiss Franc (CHF) | 1,710.40 | 1,690 | 1,740 |
| Chinese Yuan (CNY) | 191.20 | 195 | 205 |
| Indian Rupee (INR) | 16.10 | 17.00 | 18.00 |
| South African Rand (ZAR) | 75.30 | 77.00 | 82.00 |
| UAE Dirham (AED) | 374.00 | 375 | 385 |
| Saudi Riyal (SAR) | 362.00 | 365 | 375 |
| Japanese Yen (JPY) | 9.00 | 9.20 | 10.00 |
| Ghana Cedi (GHS) | 123.50 | 125.00 | 130.00 |
| West African CFA Franc (XOF) | 2.44 | 2.50 | 2.70 |
Crypto Market Rates in Naira
| Cryptocurrency | Approximate Value (₦) |
|---|---|
| Bitcoin (BTC) | ₦164,500,000 |
| Ethereum (ETH) | ₦8,250,000 |
| Tether (USDT) | ₦1,380 |
| BNB | ₦935,000 |
Market Outlook
Forex dealers expect the naira to remain largely stable this week as foreign exchange inflows from oil exports, diaspora remittances, and portfolio investors continue to support liquidity. However, global oil price movements, inflation data, and monetary policy decisions from major central banks will remain key factors influencing the foreign exchange market.
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