The Central Bank of Nigeria (CBN) is the regulatory body responsible for managing the foreign exchange market in Nigeria. The CBN sets the official exchange rate for the Nigerian Naira (NGN) against foreign currencies such as the US Dollar (USD), Euro (EUR), and British Pound (GBP). As of July 5th, 2023, the official exchange rates for the NGN to foreign currencies are as follows:
- USD to NGN: Buying Rate – N757.63 Selling Rate – N758.63
- EUR to NGN: Buying Rate – N826.044, Selling Rate – N827.1343
- GBP to NGN: Buying Rate – NÂ 946.7582, Selling Rate – N948.0275
It’s important to note that the official exchange rates set by the CBN may differ from the exchange rates in the black market, which are determined by market forces and are not officially recognized.
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The CBN official Naira to Foreign Exchange rates today, 5 July 2023 can be accessed below:
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 7/4/2023 | US DOLLAR | 757.63 | 758.13 | 758.63 |
| 7/4/2023 | EURO | 826.044 | 826.5891 | 827.1343 |
| 7/4/2023 | SWISS FRANC | 845.758 | 846.3161 | 846.8743 |
| 7/4/2023 | YEN | 5.246 | 5.2495 | 5.2529 |
| 7/4/2023 | CFA | 1.2561 | 1.2661 | 1.2761 |
| 7/4/2023 | SOUTH AFRICAN RAND | 40.6583 | 40.6851 | 40.7119 |
| 7/3/2023 | US DOLLAR | 745.89 | 746.39 | 746.89 |
| 7/3/2023 | POUNDS STERLING | 946.7582 | 947.3928 | 948.0275 |
| 7/3/2023 | EURO | 813.6168 | 814.1622 | 814.7076 |
| 7/3/2023 | SWISS FRANC | 832.095 | 832.6528 | 833.2106 |
