Exchange Rates Today: USD, GBP, and EUR Against the Naira

As of today February 3rd 2025, the Nigerian Naira (NGN) exhibits the following exchange rates against major currencies:

Official Rates:

US Dollar (USD): ₦1,491.09 per USD.
Euro (EUR): ₦1,635.07 per EUR.
British Pound Sterling (GBP): ₦1,950.00

Parallel Market Rates:

US Dollar (USD): ₦1,610.00 per USD.
Euro (EUR): ₦1,640.00 per EUR.
British Pound Sterling (GBP): ₦1,964.56 per GBP.

The disparity between official and parallel market rates underscores ongoing challenges in Nigeria’s foreign exchange landscape. Factors such as fluctuating oil prices, foreign investment flows, and domestic economic policies significantly influence these rates.

The Central Bank of Nigeria (CBN) continues to implement measures aimed at stabilising the Naira and narrowing the gap between the official and parallel market rates. Market participants are advised to stay informed through official CBN communications and consult authorised dealers when engaging in foreign exchange transaction.

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Precious Innocent

Innocent Precious is a writer with a keen eye on Nigeria’s oil and gas sector, economic policy, and downstream petroleum developments. He translates complex industry trends, refinery operations, fuel pricing, tanker movements, and regulatory shifts into engaging, data-driven narratives. His work blends analytical depth with clarity, producing SEO-optimised content that informs, educates, and captivates readers. Passionate about storytelling, Goli Innocent bridges the gap between technical insights and public understanding, making the energy landscape accessible to all.

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