As at today Wednesday March 12, 2025, the Nigerian Naira (NGN) continues to navigate a complex foreign exchange landscape against major currencies the US Dollar (USD), British Pound (GBP), and Euro (EUR):
Official Rates (CBN)
- USD: ₦1,529.00
- GBP: ₦1,970.00
- EUR: ₦1,660.00
Parallel Market Rates
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- USD: Buy ₦1,560 / Sell ₦1,580
- GBP: Buy ₦1,945 / Sell ₦2,000
- EUR: Buy ₦1,630 / Sell ₦1,660
The Naira remains under pressure, with parallel rates exceeding official ones due to forex shortages and high demand. The CBN’s efforts to stabilize the currency continue, but the gap persists, impacting businesses and consumers alike.
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