As at today Tuesday 18th march 2025, the Nigerian Naira (NGN) is battling against the US Dollar (USD), British Pound (GBP), and Euro (EUR) today. Here are the latest official and black market rates.
Official Exchange Rates (CBN)
According to the Central Bank of Nigeria (CBN) as of March 17, 2025:
- 1 USD = ₦1,539.50 (down ₦1.50 from yesterday’s ₦1,541.00)
- 1 GBP = ₦2,004.05
- 1 EUR = ₦1,687.20
Parrarel Market Exchange Rates
From street traders and online reports:
- 1 USD = ₦1,580 (buy) | ₦1,590 (sell)
- 1 GBP = ₦2,000 (buy) | ₦2,030 (sell)
- 1 EUR = ₦1,680 (buy) | ₦1,700 (sell)
What This Means
The Naira gained slightly against the dollar in the official market, but black market rates remain much higher (₦40.50–₦50.50 more per dollar). This difference affects businesses that use official rates and individuals who depend on black market rates.
Final Thoughts
Today’s exchange rates show Nigeria’s ongoing forex struggles. The official rate for the dollar is ₦1,539.50, while in the black market, it’s ₦1,580–₦1,590. This situation is crucial for businesses and individuals making financial plans.
