Commercial Bank Exchange Rates Today in Nigeria — Access Bank, Sterling Bank & Fidelity Bank
Nigerian commercial banks publish their own foreign exchange rates which may differ slightly from the Central Bank of Nigeria (CBN) official rate. These rates — covering the US Dollar (USD), British Pound (GBP), Euro (EUR), and South African Rand (ZAR) — are what you will pay or receive when buying or selling foreign currency through a branch or a Naira debit/credit card used abroad.
| Currency | Sell |
|---|---|
| USD / NGN | ₦1396.00 |
| Currency | Buy | Sell |
|---|---|---|
| USD / NGN | ₦1350.00 | ₦1385.00 |
| GBP / NGN | ₦1797.21 | ₦1885.35 |
| EUR / NGN | ₦1523.91 | ₦1604.97 |
| ZAR / NGN | ₦81.43 | ₦85.98 |
| Currency | Sell |
|---|---|
| USD / NGN | ₦1385.00 |
| GBP / NGN | ₦1892.60 |
| EUR / NGN | ₦1612.00 |
What Are Commercial Bank Exchange Rates?
Commercial bank exchange rates in Nigeria are the rates at which licensed commercial banks buy and sell foreign currencies to their customers. These rates are derived from the interbank FX market and the CBN's daily official rate, with a small spread added by each bank. They apply to:
- Naira card transactions abroad (ATM withdrawals, POS payments, online purchases)
- Telegraphic transfers (TT) for international payments
- PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) purchases
- School fees and medical payments abroad
Access Bank Dollar to Naira Rate
Access Bank publishes a Daily Naira Card Global Rate — the rate applied to all USD transactions made with an Access Bank Naira card outside Nigeria. This rate is updated daily and applies to online and in-person purchases, ATM withdrawals, and international transfers funded from a Naira account.
Sterling Bank Exchange Rate Today
Sterling Bank publishes both a buy rate and a sell rate for USD, GBP, EUR, and ZAR. The buy rate is what Sterling Bank will pay you when you exchange foreign currency for Naira. The sell rate is what you will pay when buying foreign currency from Sterling Bank at its branches.
Fidelity Bank Exchange Rate Today
Fidelity Bank publishes a PTA/BTA Customer Sell Rate — the rate at which Fidelity Bank sells foreign currency to customers for travel purposes. This rate applies to Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) purchases at Fidelity Bank branches.
Commercial Bank Rates vs CBN Rate vs Black Market Rate
There are three main exchange rate tiers in Nigeria:
- CBN Official Rate: Set daily by the Central Bank of Nigeria. The benchmark rate that all commercial banks must stay close to.
- Commercial Bank Rate: Slightly above the CBN rate, includes the bank's spread. Available to customers with verifiable FX needs (travel, school fees, medical).
- Black Market Rate: Market-driven rate in the parallel market. Typically higher than both CBN and commercial bank rates. No documentation required.
For most Nigerians, commercial bank rates are the most accessible official rate — they can be accessed by any account holder with proper documentation. The black market rate remains more relevant for those who cannot access bank forex.