See latest naira to dollar exchange rates against US dollar, pound, euro

• The worth of the naira has appreciated against the United States dollar successful the authoritative overseas speech market
• The caller speech complaint comes connected the backmost of consecutive losses for the naira crossed each markets
• Pressure connected the naira against the US dollar successful the parallel marketplace continued arsenic BDC traders accrued speech rates

Legit.ng writer Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

The naira has recovered against the United States dollar successful the authoritative overseas speech marketplace aft respective days of losses.

New information from the Central Bank of Nigeria shows that successful the Nigerian Foreign Exchange Market (NFEM), the naira closed astatine N1,597.70/$1 connected Monday, May 12, 2025.

Naira's worth appreciates against US dollar Photo credit: Bloomberg/contributor
Source: Getty Images

Monday’s speech rate represents an appreciation of N9 oregon 0.5% from the erstwhile day’s closing complaint of N1,607/$1.

It is besides the archetypal clip since April 28 that the naira achieved a closing speech complaint beneath N1,600 against the naira.

Naira against different currencies

Similar appreciation was recorded for the naira against the Pound Sterling and euro successful the authoritative market.

On Friday, May 9, the Nigerian naira closed astatine N2,145.48/£1 against the Pound Sterling and N1,818.42/€1 against the Euro successful the authoritative overseas speech market.

By Monday, the naira had appreciated against some currencies. The speech complaint for the Pound Sterling dropped to N2,114.02/£1, portion the Euro fell to N1,780.80/€1, reflecting an improved show of the section currency.

Here is simply a snapshot of the latest speech rates

• CFA: N2.76
• Yuan/Renminbi: N222.05
• Danish Krona: N238.71
• Euro: N1780.81
• Yen: N10.81
• Riyal: N426.68
• South African Rand: N87.52
• Swiss Franc: N1900.99
• Pounds Sterling: N2114.02

Naira's vaue driblet against the US dollar successful the achromatic market Photo credit: Bloomberg.contributor
Source: Getty Images

Naira falls against dollar astatine achromatic market

In the parallel market, besides known arsenic the achromatic market, the naira told a antithetic communicative against the US dollar.

Traders who spoke to Legit.ng confirmed that the Nigerian currency depreciated against the dollar.

Abdullahi, a BDC trader, told Legit.ng:

"The dollar selling speech complaint has accrued to N1,627, portion we bargain astatine N1,617 from customers. However, the lb and euro speech rates stay astatine N2,155/£1 and N1,815/€1, respectively."I expect that by the extremity of the week, the speech complaint for the naira volition person improved."

CBN releases magnitude spent to print, distribute, destruct naira notes

Earlier, Legit.ng reported that the CBN has released the magnitude it spent connected printing, distributing, and disposing of naira notes successful 2024.

The CBN explained that currency issuance expenses subordinate to costs incurred successful the printing, processing, distribution, and disposal of currency notes.

The CBN regularly destroys unfit banknotes nether strict information measures, authorised by Section 18(d) of the CBN Act 2007.

There is simply a mandate fixed to Zenith, UBA, Wema, and different commercialized banks successful Nigeria to guarantee currency availability.

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Source: Legit.ng