Naira Exchange Rate Today At Official. Parallel Markets

What is the exchange rate of the Naira in the New Year 2025?

Well, today, the Naira, the national currency, did not fare particularly well in the market today

The Eagle findings shows relying on official data shows that the Naira performed poorly against the Dollar, exchanging at N1,660 per Dollar

It was N1,655 to the Dollar as at Thursday.

According to data from the Central Bank of Nigeria (CBN), the apex monetary policy agency in the country, the story was slightly different at the official market with the Naira appreciating to N1,535 against the Dollar.

Data from the CBN, showed that the exchange rate for Nigerian Foreign Exchange Market (NFEM) fell to N1535 per dollar from N1,538.5 per dollar on Thursday, indicating N3.5 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N125 per dollar from N116.5 per dollar on Thursday.

Irrespective of the Naira Exchange rate today, the officials want operators to keep hope alive.

The Eagle reports the CBN Governor, Olayemi Cardoso, telling stakeholders last November: “over the past year, we have undertaken critical reforms to unify Nigeria’s exchange rate, eliminating distortions and restoring transparency.

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This was at the Chartered Institute of Bankers (CIBN) annual dinner, where he added that: “Unification has enabled us to clear the outstanding foreign exchange obligations, giving businesses ranging from manufacturers, to airlines, the confidence to plan and invest in the future.

To further enhance the functionality of the foreign exchange market, we are introducing an electronic FX marching system, which has proven effective in other markets”.