Understanding the Nigerian Naira's Exchange Rate: A Look at CBN's Official NFEM Rates - Naira Today 28th December 2025
The Nigerian Naira (NGN) has long been a barometer of the country's economic health, influenced by factors like oil prices, foreign reserves, inflation, and government policies. As Nigeria's official currency, its exchange rate against major global currencies, particularly the US Dollar (USD), plays a crucial role in trade, investment, and everyday life for millions. The Central Bank of Nigeria (CBN) serves as the primary authority on official exchange rates, providing transparency through its platforms. One key metric is the Nigerian Foreign Exchange Market (NFEM) rate, which represents the official window for foreign exchange transactions. This post delves into the current NFEM rates, their implications, and broader context, drawing from the CBN's latest data.