Nigerian Foreign Exchange Market (NFEM) Rates Update: July 25, 2025

Nigerian Foreign Exchange Market (NFEM) Rates Update: July 25, 2025 - Complete Guide

The Nigerian Foreign Exchange Market continues to evolve as the Central Bank of Nigeria (CBN) maintains its unified exchange rate system. Here's everything you need to know about the latest NFEM rates and what drives Nigeria's currency fluctuations.

Current Nigerian Foreign Exchange Market (NFEM) Rates (July 25, 2025)

The Central Bank of Nigeria has published the official foreign exchange rates for July 25, 2025, under the Nigerian Foreign Exchange Market framework. These rates apply to all formal foreign exchange transactions across Nigeria's banking system

Major Currency Exchange Rates

US Dollar (USD)

Buying Rate: ₦1,533.72

Central Rate: ₦1,534.22

Selling Rate: ₦1,534.72

British Pound Sterling (GBP)

Buying Rate: ₦2,061.32

Central Rate: ₦2,061.99

Selling Rate: ₦2,062.66

Chinese Yuan/Renminbi (CNY)

Buying Rate: ₦213.95

Central Rate: ₦214.02

Selling Rate: ₦241.23

Euro (EUR)

Buying Rate: ₦1,799.67

Central Rate: ₦1,800.25

Selling Rate: ₦1,800.84

Additional International Currencies

Swiss Franc (CHF)

Buying Rate: ₦1,925.33

Central Rate: ₦1,925.96

Selling Rate: ₦1,926.59

Japanese Yen (JPY)

Buying Rate: ₦10.39

Central Rate: ₦10.39

Selling Rate: ₦10.39

Saudi Riyal (SAR)

Buying Rate: ₦408.81

Central Rate: ₦408.94

Selling Rate: ₦409.07

South African Rand (ZAR)

Buying Rate: ₦86.32

Central Rate: ₦86.35

Selling Rate: ₦86.38

Danish Krona (DKK)

Buying Rate: ₦241.07

Central Rate: ₦241.15

Selling Rate: ₦241.23

Regional African Currencies

CFA Franc

Buying Rate: ₦2.73

Central Rate: ₦2.74

Selling Rate: ₦2.75

West African Unit of Account (WAUA)

Buying Rate: ₦2.72

Central Rate: ₦2.73

Selling Rate: ₦2.74

Understanding Nigeria's Unified Exchange Rate System

Since 2023, the Central Bank of Nigeria has operated under a "willing buyer, willing seller" model, effectively unifying the foreign exchange market under the NFEM framework. This system replaced the previous multiple exchange rate structure that had created significant arbitrage opportunities and market distortions.

Eligible Transactions Under NFEM

The unified system processes various legitimate foreign exchange needs through authorized Deposit Money Banks:

• Medical expenses abroad
• International school fees and education costs
• Business Travel Allowance (BTA)
• Personal Travel Allowance (PTA)
• Small and Medium Enterprise (SME) transactions
• Import and export trade financing

Key Factors Influencing Nigerian Exchange Rates

Nigeria's economy heavily depends on crude oil exports, which account for over 80% of foreign exchange earnings. Fluctuations in global oil prices directly impact the naira's strength against major currencies.

2. Foreign Investment Flows

Portfolio investments, Foreign Direct Investment (FDI), and diaspora remittances significantly influence foreign exchange supply and demand dynamics in Nigeria.

3. Monetary Policy Decisions

The Central Bank of Nigeria's interest rate policies, money supply management, and intervention strategies in the foreign exchange market affect currency stability.

Global Economic Conditions

International trade tensions, global inflation trends, and major economies' monetary policies create ripple effects on emerging market currencies like the Naira.

5. Domestic Economic Indicators

Nigeria's GDP growth, inflation rates, current account balance, and fiscal policy implementations impact investor confidence and currency demand.

6. Political Stability and Governance

Political developments, policy consistency, and governance quality influence foreign investor sentiment and capital flows.

7. Import Demand Patterns

Nigeria's high import dependency for consumer goods, machinery, and refined petroleum products creates consistent demand for foreign currencies.

8. Agricultural Performance

As Nigeria diversifies its economy, agricultural output and food security issues increasingly affect exchange rate stability through their impact on import requirements.

Implications for Businesses and Individuals

The current exchange rates reflect ongoing efforts to maintain market-determined pricing, while ensuring adequate foreign exchange liquidity for legitimate transactions. Businesses planning international operations should monitor these rates closely, as they directly impact:

• Import and export costs
• International service payments
• Foreign Investment Returns 
• Travel and education expenses

Looking Ahead

The Nigerian Foreign Exchange Market continues to evolve as the CBN works to strengthen the Naira through improved foreign exchange policies, increased non-oil exports, and enhanced investor confidence. Market participants should stay informed about policy changes and global economic developments that could impact future exchange rate movements.

For the most current rates and foreign exchange market updates, businesses and individuals should consult with their authorized Deposit Money Banks or monitor official CBN communications.

The exchange rates published are official Central Bank of Nigeria rates for formal transactions. Rates may vary slightly between different authorized dealers based on market conditions and transaction

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The added  information here is not Professional, Financial, Economic or Business advise , all due diligence must be carried out  to verify it's accuracy and authenticity before it can be acted on.

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