NGN → USD Rates

NFEM (official) Rate

Official Market:

Buying: ₦1,451.86/ USD

Parallel Market:

Buying: ₦1,475 / USD

Selling: ₦1,490 / USD

Market Drivers: Balanced seasonal year-end demand pressures; Anticipation of a US Federal Reserve interest rate decision; Gradual market adjustment awaiting further CBN policy signals.

OUTLOOK: Nigeria’s external reserves, now around $45.3 billion, continue to support market confidence. Experts say the usual December surge in dollar demand is being cushioned by stronger liquidity and tighter regulations for BDC operators.