As of January 28, 2025, the Nigerian Naira (NGN) continues to experience fluctuations against major global currencies, reflecting ongoing economic dynamics.
Official Exchange Rates:
- US Dollar (USD): The Central Bank of Nigeria (CBN) lists the official exchange rate at ₦1,533.45 per USD.
- British Pound Sterling (GBP): The official rate stands at ₦1,850.60 per GBP.
- Euro (EUR): The Euro is officially exchanged at ₦1,724.87 per EUR.
Parallel Market Rates:
In the parallel market, rates often differ from official figures due to various market factors. As of today:
- US Dollar (USD): Approximately ₦1,540 per USD.
- British Pound Sterling (GBP): Around ₦1,860 per GBP.
- Euro (EUR): About ₦1,730 per EUR.
These variations highlight the ongoing challenges in Nigeria’s foreign exchange markets. The CBN continues to implement measures aimed at stabilising the Naira and ensuring liquidity in the official market.