Naira exchange value against the Pound as of Thursday, May 27, 2026

The Nigerian Naira demonstrated stability against the British Pound Sterling in the foreign exchange market on Wednesday morning, with trading characterized by minimal fluctuations and low volatility across various segments.

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According to official data from the Nigerian Foreign Exchange Market, the Naira was trading at 1,846.90 Naira per Pound, marking a slight deviation from Tuesday's closing rate of 1,846.94 Naira.

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The central bank's liquidity management strategies appear to be supporting the Naira's resilience against major European currencies, as evidenced by the steady exchange rate.

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In the parallel market, currency dealers in major cities such as Lagos, Kano, and Abuja reported similar stability, with the British Pound being bought at an average of 1,895 Naira and sold at a range of 1,910 Naira to 1,915 Naira.

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The narrow gap between official and parallel market rates suggests a balance in demand and a lack of speculative pressure among local buyers, contributing to the Naira's relatively stable valuation.

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Currency analysts attribute the Naira's sustained valuation to the steady inflow of foreign remittances and moderate corporate demand for the British Pound ahead of mid-year settlements, which has helped mitigate pressure on the local currency.