As of today Wednesday 19th 2025, the value of the Nigerian Naira compared to the US Dollar (USD), British Pound (GBP), and Euro (EUR) has shifted slightly today. Below are the latest exchange rates from both the official market and the parallel market.
Official Exchange Rates (CBN)
The Central Bank of Nigeria (CBN) sets these rates through the Nigerian Autonomous Foreign Exchange Market (NAFEM):
- 1 USD = ₦1,537.03
- 1 GBP = ₦1,997.16
- 1 EUR = ₦1,680.60
The Naira has weakened slightly against the US Dollar, dropping by about 0.5% compared to recent days.
Parallel Market Exchange Rates
The unofficial or black market rates, which are monitored by the CBN, show slightly higher figures due to demand and forex shortages:
- USD to NGN: Buy – ₦1,568.05 | Sell – ₦1,572.05
- GBP to NGN: Buy – ₦1,996.86 | Sell – ₦2,000.86
- EUR to NGN: Buy – ₦1,691.94 | Sell – ₦1,695.94
Why the Difference in Rates?
The gap between official and parallel market rates remains because of Nigeria’s ongoing forex challenges. The availability of foreign currency and global economic factors, such as oil prices, play a major role in determining the Naira’s value.