As of today Friday 11 April 2025, the Nigerian Naira fluctuates against major currencies. The Central Bank of Nigeria (CBN) sets lower official rates, while parallel market rates are higher due to demand and supply issues.
Official CBN Rates:
- USD: ₦1,600.00
- GBP: ₦1,950.00
- EUR: ₦1,650.00
Parallel Market Rates:
- USD: ₦1,710.00
- GBP: ₦2,150.00
- EUR: ₦1,670.00
Key Factors:
Global trade wars, low oil prices, and forex shortages drive the gap. Reports indicates Public concern over rising costs, while analysts urge CBN reforms to boost reserves and stabilise the Naira.