Naira Holds at ₦1,379.22 per Dollar

The naira traded at N1,379.22 per dollar at the official foreign exchange window on Monday, according to data from the Nigerian Foreign Exchange Market (NFEM).

In the parallel market, the dollar traded around N1,390 for buying and between N1,400 and N1,405 for selling, depending on location and transaction volume.

The NFEM rate is a volume-weighted average of transactions conducted in the official foreign exchange market and serves as the country’s benchmark exchange rate.

Naira Rises Slightly Against Dollar. Credit: Punch.

At current rates, $100 exchanges for approximately N137,922 at the official window and roughly N140,000 in the parallel market.

Exchange rates may vary across banks, bureaux de change, and parallel market locations due to fluctuations in supply and demand.

Nigeria’s external reserves stood at $50.96 billion as of June 17.

Author

Jimisayo Opanuga

Jimisayo Opanuga is a web writer in the Digital Department at News Central TV, where she covers African and international stories. Her reporting focuses on social issues, health, justice, and the environment, alongside general-interest news. She is passionate about telling stories that inform the public and give voice to underreported communities.