UPDATED: See Naira To Dollar Rate Today

UPDATED: See Naira To Dollar Rate Today

The Naira remains under significant pressure against major global currencies—the United States Dollar, British Pound, and Euro.

For both individuals and businesses, monitoring daily exchange rates has become crucial, especially as disparities persist between the Central Bank of Nigeria’s (CBN) official rates and parallel market figures.

Dollar to Naira Exchange Rate:

According to the CBN, the official “buy/sell” rate for the Dollar stood at ₦1,487.37 per $1 as of 23 September 2025.

However, real-time data from Wise.com, which tracks street and peer-to-peer market activity, places the Dollar at roughly ₦1,518 per $1 on the parallel market.

Pound to Naira Exchange Rate:

The British Pound continues to command higher value than the Dollar.

The CBN’s rate currently sits at ₦2,036.96 per £1, while Wise reports the black market average at around ₦2,090 per £1.

Quick Reference:

CBN Rate: ₦2,036.96 → £1

Parallel Market: ₦2,090 → £1

Euro to Naira Exchange Rate:

For the Euro, the CBN quotes ₦1,622.48 per €1. By contrast, Wise shows the Euro trading at approximately ₦1,680 per €1 in the parallel market.

Quick Reference:

CBN Rate: ₦1,622.48 → €1

Parallel Market: ₦1,680 → €1

Reason for the margin:

The persistent gap between the official and parallel rates is rooted in Nigeria’s foreign exchange framework.

The official CBN rate reflects regulated supply to banks and authorised dealers.

Meanwhile, the parallel market, driven by high demand, restricted forex access, and informal trade channels tends to push prices upward.