As of today 13th February 2025, the exchange rates for the United States Dollar (USD), British Pound Sterling (GBP), and Euro (EUR) against the Nigerian Naira (NGN) are as follows:
Official Rates (Central Bank of Nigeria):
- USD to NGN: ₦1,558.70 per USD
- GBP to NGN: ₦2,031.94 per GBP
- EUR to NGN: ₦1,611.56 per EUR
These rates are sourced from the Central Bank of Nigeria‘s official data.
Parallel Market Rates:
- USD to NGN: ₦1,555.00 per USD
- GBP to NGN: ₦1,868.76 per GBP
- EUR to NGN: ₦1,580.00 per EUR
Factors Influencing the Naira:
The Naira’s value is influenced by various factors, including fluctuations in oil revenue, foreign exchange reserves, and economic policies. The disparity between official and parallel market rates often reflects supply and demand dynamics in the foreign exchange market.
Please note that exchange rates are subject to change and may vary based on location and market conditions. It’s advisable to consult multiple sources or financial institutions for the most current rates before making currency transactions.