NGN → USD Rates
NFEM (Official) Rate
Official Market:
- Buying: ₦ 1,455.95/ USD
Parallel Market:
- Buying: ₦ 1,720/ USD
- Selling: ₦ ₦1,745/ USD
Market Drivers: Regular interventions by the CBN, including foreign exchange auctions, have helped limit sharp movements in the official market. Global crude oil prices also remain critical, as oil exports are Nigeria’s main source of foreign exchange earnings.
OUTLOOK: Economic analysts expect the naira to continue trading within its current range in the coming days. They note that stability will depend largely on sustained foreign exchange supply through official channels and controlled demand in the wider market.