NGN → USD Rates
NFEM (Official) Rate
Official Market:
- Buying: ₦ 1,419.37/ USD
Parallel Market:
- Buying: ₦ 1,482/ USD
- Selling: ₦ 1,495/ USD
Summary of Rates
The opening rate for the day was 1,419.37 per dollar at the NFEM, with the current trading average sitting at 1,421.33. In the informal sector, the average rate across major hubs remains around 1,488.
Looking ahead, the market will be focused on the closing figures of the week to determine if the Naira will regain its footing below the 1,420 mark. With inflation forecasts for 2026 trending downward and a positive balance of payments, the broader outlook for the local currency remains resilient in the face of temporary market fluctuations.