NGN → USD Rates
NFEM (official) Rate
Official Market:
- Buying: ₦1,451.19/ USD
Parallel Market:
- Buying: ₦1,465/ USD
- Selling: ₦1,475/ USD
Market Drivers: Central Bank of Nigeria (CBN) liquidity management; High benchmark Monetary Policy Rate (MPR) at 27.00%; Early stages of anticipated year-end corporate and personal FX demand.
OUTLOOK: Currency analysts attribute the relative stability in the official window to a combination of increased liquidity injections by the Central Bank and a general slowdown in corporate FX demand towards the end of the year.