See latest naira to dollar exchange rates, other currencies

• Th worth of the Nigerian currency has appreciated against the US dollar successful the authoritative overseas speech markets
• New information shows that the naira improved by 0.09% astatine the adjacent of trading week connected Friday successful the NFEM window
• Financial experts person predicted that the naira volition proceed to beryllium stable, but person ruled retired further strengthening

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

The Nigerian currency has closed trading week connected a affirmative enactment against the United States dollar successful the authoritative overseas speech market.

According to information from the Central Bank of Nigeria, the naira connected Friday, May 30 exchanged N1585.5 a dollar successful the authoritative Nigerian Foreign Exchange Market (NFEM).

Nigerian currency rises against US dollar successful forex markets Photo credit: Bloomberg/contributor
Source: Getty Images

Friday's speech complaint represents a flimsy appreciation of N2 oregon 0.09% from the erstwhile day’s closing complaint of N1,587/$1.

What this means is that for different week, the naira successful the authoritative marketplace traded beneath N1,600 a dollar mark.

Naira against different currencies

The naira appreciated against the lb sterling successful the spot marketplace connected Friday, gaining N4.29 to adjacent astatine N2,136.38/£1, compared to Thursday’s complaint of N2,140.67/£1. This continued the strengthening inclination seen during the week.

Similarly, the naira besides gained crushed against the euro, appreciating by N2.53 to settee astatine N1,797.11/€1 connected Friday, stronger than Thursday’s closing complaint of N1,799.64/€1.

The gains successful the overseas speech marketplace bespeak improving assurance and accrued supply, helping to easiness unit connected the section currency up of month-end demand.

Here is simply a snapshot of the latest speech rates May 30

• CFA Franc: N2.73
• Chinese Yuan (Renminbi): N220.27
• Danish Krone: N240.92
• Euro: N1,797.11
• Japanese Yen: N11.02
• Saudi Riyal: N422.86
• South African Rand: N88.25
• Swiss Franc: N1,926.81
• Pound Sterling: N2,136.39

Traders merchantability dollar astatine caller speech complaint Photo credit: Nurphoto
Source: Getty Images

Naira falls against dollar astatine achromatic market

In the parallel market, besides known arsenic the achromatic market, it was a the aforesaid communicative for the naira against the US dollar.

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

Abdullahi, a Bureau De Change (BDC) trader said:

He said:

"The dollar complaint appreciated somewhat betwixt Thursday and Friday, rising from N1,625 to a selling complaint of N1,623 and a buying complaint of N1,610, leaving a borderline of N13. "While the dollar experienced immoderate movement, the speech rates for the euro and the British lb remained unchanged passim the period. Both currencies held dependable astatine N1,800 for the euro and N2,160 for the pound."

Experts foretell caller naira speech rates

Earlier, Legit.ng reported that Financial experts person predicted that the naira volition proceed to beryllium stable, but have ruled retired further strengthening

They disclosed that the naira gained 1.1% past week astatine N1,585 per dollar arsenic the Central Bank of Nigeria (CBN) sold $190.40 cardinal to dealers

Data from the Nigerian Foreign Exchange Market showed that the naira appreciated to N1,580.44 per dollar connected Friday, May 23, 2025, from N1,584.95

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng