The Nigerian naira traded relatively stable against major foreign currencies on Thursday despite continued pressure in the foreign exchange market. The gap between the official Nigerian Foreign Exchange Market (NFEM) rate and the parallel market rate remained relatively narrow as the Central Bank of Nigeria (CBN) continued its foreign exchange reforms.

In the cryptocurrency market, Bitcoin and other major digital assets maintained positive momentum as investors sought alternative investment opportunities amid global economic uncertainty. Nigeria remains one of Africa’s leading cryptocurrency markets, with growing adoption of digital assets and stablecoins.

Naira Exchange Rate Today: Naira Exchange Rates Today
Currency Official Rate (CBN/NFEM) Black Market Rate
US Dollar (USD) ₦1,370.64 ₦1,400
British Pound (GBP) ₦1,810.75 ₦1,878
Euro (EUR) ₦1,561.02 ₦1,625
Canadian Dollar (CAD) ₦990 ₦1,000
Chinese Yuan (CNY) ₦202 ₦207.70
Japanese Yen (JPY) ₦8.20 ₦8.48
UAE Dirham (AED) ₦373 ₦385
South African Rand (ZAR) ₦76 ₦79
Swiss Franc (CHF) ₦1,670 ₦1,720
Dollar-to-Naira Snapshot
Market Buying Rate Selling Rate
Official (CBN/NFEM) ₦1,360.07 ₦1,370.64
Black Market ₦1,385.67 ₦1,400.00
Cryptocurrency Market Update
Cryptocurrency Approximate Price
Bitcoin (BTC) Above $100,000
Ethereum (ETH) Above $5,000
BNB Above $900
Solana (SOL) Above $220
XRP Above $2.50
Key Takeaways
The naira remained relatively stable in both the official and parallel markets.
The official exchange rate hovered around ₦1,370/$ while the black market rate averaged ₦1,400/$.
The gap between both markets remained below ₦35.
Bitcoin and major cryptocurrencies continued to attract investors.
Analysts expect forex market stability to depend on foreign inflows, oil revenue performance, and CBN policy measures in the coming weeks.
Market Watch: Traders are closely monitoring CBN interventions, foreign reserve levels, inflation trends, and global cryptocurrency developments for signals that could influence the naira and digital asset markets in the coming days.

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