NGN → USD Rates
NFEM (Official) Rate
Official Market:
- Buying: ₦ 1,431.47/ USD
Parallel Market:
- Buying: ₦ 1,495/ USD
- Selling: ₦ 1,510/ USD
Market Drivers: Imported goods and living costs continue to react quickly to any movement in the foreign exchange market. Analysts attribute the relative stability to balanced demand for school fees and seasonal imports.
OUTLOOK: The wide gap between both markets remains under close watch by investors and policymakers. The Central Bank of Nigeria continues measures aimed at improving liquidity and encouraging transparent price discovery.