NGN → USD Rates
NFEM (Official) Rate
Official Market:
Buying: ₦ 1,426.69 / USD
Parallel Market:
Buying: ₦ 1,475/ USD
Selling: ₦ 1,490/ USD
Market Drivers: Analysts note that daily turnover will be closely monitored to assess the scale of corporate dollar demand for January.
Outlook: The current stability observed today is attributed to a combination of factors, including steadying oil revenues and the central bank’s ongoing monetary tightening measures. However, pressure remains as importers begin to place orders for the first quarter of the year, potentially testing the resilience of the current exchange rate levels.