CBN Releases Latest Exchange Rates as Naira Falls

The value of the naira depreciated once again against the United States dollar on Wednesday, May 28, closing at N1,592 per dollar. This latest decline marks three consecutive days of poor performance in the official market.
Wednesday’s closing rate is a 0.12% or N2 fall for the naira when compared to the previous exchange rate of N1,590.

During trading on Wednesday, the dollar was sold as high as N1,595 and the lowest rate quoted was N1,589.5. The simple average rate is N1,591. Naira against pound, euro The Nigerian currency tumbled against the Pound Sterling in the same market segment on Wednesday, depreciating by N3.29 to close at N2,145.28/£1, compared to N2,141.99/£1 on Tuesday. It also lost N4.15 against the Euro, settling at N1,801.52/€1 versus N1,797.37/€1 the previous day.

The CBN also provided the updated currency exchange rate changes as of May 28, 2025:

• CFA: N2.71
• Yuan/Renminbi: N220.99
• Danish Krona: N241.43
• Euro: N1800.95
• Yen: N10.99
• Riyal: N423.95
• South African Rand: N88.78
• Swiss Franc: N1925.70
• Pound Sterling: N2144.61

Source:legit.ng

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