NGN → USD Rates
NFEM (Official) Rate
Official Market:
- Buying: ₦ 1,441.85/ USD
Parallel Market:
- Buying: ₦ 1,455/ USD
- Selling: ₦ 1,465/ USD
Market Drivers: Market watchers link the slower divergence to tighter monetary controls and reduced speculative activity. Market analysts note that the volume of liquidity in the official window remains a key factor in price discovery as the government continues its efforts to unify exchange rates.
OUTLOOK:Manufacturers and importers seeking to replenish stocks for early 2026 are increasing pressure on the dollar. Additionally, investors are keeping a close eye on the CBN’s foreign reserve levels and any potential interventions in the market to provide liquidity.