Market analysts say the gap between the official window and the parallel market remains relatively small. However, exchange rates continue to fluctuate based on demand, supply, and liquidity in the forex market.
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Exchange Rates Table
| Currency | Official Market Rate (₦) | Parallel / Black Market Rate (₦) | Mid-Market / Indicative Rate (₦) |
|---|---|---|---|
| US Dollar (USD) | ₦1,390 – ₦1,405 | ₦1,405 – ₦1,415 | ₦1,400 |
| Euro (EUR) | ₦1,520 – ₦1,540 | ₦1,630 – ₦1,660 | ₦1,640 |
| British Pound (GBP) | ₦1,800 – ₦1,830 | ₦1,920 – ₦1,950 | ₦1,935 |
| Chinese Yuan (CNY) | ₦190 – ₦195 | ₦200 – ₦205 | ₦202 |
| Japanese Yen (JPY) | ₦9.5 – ₦9.9 | ₦10.2 – ₦10.6 | ₦10.4 |
| Canadian Dollar (CAD) | ₦1,010 – ₦1,040 | ₦1,090 – ₦1,120 | ₦1,105 |
| Swiss Franc (CHF) | ₦1,560 – ₦1,590 | ₦1,650 – ₦1,680 | ₦1,670 |
| Saudi Riyal (SAR) | ₦370 – ₦375 | ₦385 – ₦395 | ₦390 |
| UAE Dirham (AED) | ₦375 – ₦380 | ₦390 – ₦400 | ₦395 |
Market Notes
The official rate represents transactions within the Nigerian Foreign Exchange Market (NFEM) regulated by the Central Bank of Nigeria.
Meanwhile, the parallel market rate reflects prices quoted by Bureau de Change operators across major cities such as Lagos, Abuja, and Kano.
The mid-market rate is the global benchmark rate used by international currency platforms. It does not include transaction charges or local dealer margins.
Exchange rates can change several times during the day. Therefore, traders and travellers should always confirm the current rate before carrying out foreign exchange transactions.
Stay with Sojworldnews for daily dollar to naira today exchange rate updates and economic news.
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