Economy
Naira in 9th position as Weakest Currency In Africa-Report
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The Nigerian Naira has been positioned as the ninth weakest currency in Africa, according to the latest Forbes currency calculator report for September 2025.
The ranking, which relies on real-time data provided through the Open Exchange Rates API, updates every five minutes to reflect live trading activity. It factors in demand and supply dynamics, economic stability, and overall market sentiment affecting different African currencies.
According to the report, the São Tomé & Príncipe Dobra topped the list as the weakest African currency at 22,282 per $1, followed by the Sierra Leonean Leone at 20,970 per $1, and the Guinean Franc at 8,680 per $1.
Other currencies on the weak list included:
Ugandan Shilling – 3,503 per $1
Burundian Franc – 2,968 per $1
Congolese Franc – 2,811 per $1
Tanzanian Shilling – 2,465 per $1
Malawian Kwacha – 1,737 per $1
Nigerian Naira – ₦1,490 per $1
Rwandan Franc – rounding off the top 10
On the other hand, the continent’s strongest currencies were listed as:
Tunisian Dinar – 2.90 per $1
Libyan Dinar – 5.40 per $1
Moroccan Dirham – 9.91 per $1
Ghanaian Cedi – 12.31 per $1
Botswanan Pula – 14.15 per $1
Africa currently consists of 54 recognized countries, according to the United Nations.
Naira’s Weakness Amid Signs of Economic Stability
Although the Naira remains among Africa’s weakest-performing currencies, recent figures suggest that Nigeria’s broader economy may be experiencing some relief.
Data from the National Bureau of Statistics (NBS) shows that headline inflation dropped from 24.5% in January 2025 to 20.12% in August 2025, representing the fifth consecutive month of disinflation.
Analysts attribute this improvement to:
Steady foreign exchange inflows from oil exports and diaspora remittances
A boost in agricultural output
The Central Bank of Nigeria’s (CBN) tight monetary stance, which kept the benchmark interest rate at 27.5%
Expert View and Outlook
According to Dr. Omoniyi Akinsiju, chairman of the Independent Media and Policy Initiative (IMPI):
“Nigeria recorded a rare disinflation in 2025, with inflation falling from 24.5% in January to 20.12% in August the sharpest mid-year slowdown in over a decade.”
Looking ahead, IMPI projects that inflation could fall further to 17% by December 2025, offering hope that consumer prices may stabilize and provide some relief to households battered by years of rising costs.
While the Naira continues to rank low against other African currencies, signs of easing inflation and stable forex inflows suggest that Nigeria may be inching toward economic stability, even if currency strength remains a major challenge.
The Black Market Dollar-to-Naira Exchange Rate for 21st May 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 21st May 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦11399 and buy at ₦1386 on Thursday, 21st May, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1399
Buying Rate ₦1386
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1374
Lowest Rate ₦1372
Disclaimer:NEWSRAIN NIGERIA does not set or determine forex rates.
The official NAFEX rates are obtained from the FMDQOTC website. Parallel market rates (black market rates) are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
The Central Bank of Nigeria (CBN) on Wednesday retained its benchmark interest rate at 26.5 percent following the conclusion of its two-day Monetary Policy Committee (MPC) meeting, a decision largely anticipated by analysts who expected policymakers to maintain the status quo.
CBN Governor Olayemi Cardoso said the committee decided to keep rates unchanged amid caution over global shocks, particularly uncertainties stemming from developments in the United States and the ongoing conflict in the Middle East.
The decision highlights the MPC’s cautious stance as policymakers seek to balance the need to rein in inflationary pressures and anchor market expectations while sustaining economic recovery.
Data from the National Bureau of Statistics (NBS) showed that Nigeria’s headline inflation rate continued its upward trend in April 2026, rising by 31 basis points to 15.69 percent year-on-year from 15.38 percent recorded in March.
The latest increase marks the second consecutive monthly rise in headline inflation, reversing the disinflationary trend that had persisted for 11 months and pushed inflation down from 34.8 percent in late 2024 to 15.06 percent in February 2026.
“While prevailing inflationary risks may justify a cautious policy posture by the MPC, the CPPE strongly urges the monetary authorities to avoid excessive reliance on monetary policy orthodoxy in managing what is fundamentally a structurally-driven inflation environment,” said Muda Yusuf, chief executive officer of the Centre for the Promotion of Private Enterprise.
Dollar To Naira Exchange Rate Today 27 January 2023(Black Market)
The Black Market Dollar-to-Naira Exchange Rate for 20th May 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 20th May 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦11400 and buy at ₦1385 on Wednesday, 20th May, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1400
Buying Rate ₦1385
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1374
Lowest Rate ₦1370
Disclaimer:NEWSRAIN NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the FMDQOTC website. Parallel market rates (black market rates) are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
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