As at Today 21th March 2025, the Naira’s value against major currencies reflects Nigeria’s ongoing forex dynamics. Here are today’s exchange rates for the US Dollar (USD), British Pound (GBP), and Euro (EUR), based on the latest official Central Bank of Nigeria (CBN) data and parallel market trends.
Official CBN Rates: (March 21, 2025)
- USD: Buy: ₦1,527.03 | Sell: ₦1,528.03
- GBP: Buy: ₦1,983.31 | Sell: ₦1,984.61
- EUR: Buy: ₦1,667.36 | Sell: ₦1,668.46
These rates, set via the Nigerian Autonomous Foreign Exchange Market (NAFEM), guide formal transactions but are often inaccessible to many.
Parallel Market Rates: (March 21, 2025)
- USD: Buy: ₦1,615 | Sell: ₦1,625
- GBP: Buy: ₦2,070 | Sell: ₦2,090
- EUR: Buy: ₦1,750 | Sell: ₦1,780
Sourced from Bureau de Change operators in Lagos and Abuja, these rates show a premium of ₦88–97 (USD), ₦85–105 (GBP), and ₦82–112 (EUR) over CBN figures, driven by forex scarcity and high demand.
Outlook
The persistent gap between official and parallel rates highlights Nigeria’s economic challenges, including limited dollar inflows and reliance on the informal market. While the CBN aims to stabilize the Naira, the dual-rate system continues to impact costs for businesses and individuals alike.
