GTBank, Access Bank Release Updated Dollar, Pound, Euro Exchange Rates for International Payment
- Guaranty Trust Bank has disclosed its dollar exchange rate for international payments to its customers
- The lender said the naira to dollar exchange rate was in line with the market conditions and the intraday rate
- Naira in the official and black foreign exchange markets recorded a drop in value against the US dollar
Don't miss out! Join Legit.ng's Sports News channel on WhatsApp now!
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Guaranty Trust Bank has set its forex rate for international transactions at N1,545, aligning with the rate traded at the parallel market, commonly referred to as the black market.
This was disclosed in a notice to customers on Monday, August 18, 2025. According to GTbank, the rate is subject to change and it is pegged with prevailing market conditions.
Source: Getty Images
The notice to customers reads:
“FX rate for international payments on your GTBank naira card today, 18-08-2025, is N1,545. Kindly note that this rate is subject to change and is updated intraday and daily, in line with prevailing market conditions.”
Some of the services available for international payments using naira card include School fees, medical bills, training Courses, mortgage and others.
Applicants are, however, expected to register via tradesystem.gov.ng.
In a related message to customers, Ecobank said:
Although the bank did not disclose its rate, it said:
"Follow these simple steps: visit www.tradesystem.gov.ng select Form Α, choose educational services' under application type, follow the prompts, select Ecobank as your preferred bank, upload all supporting documents, submit your request, and send your AF number to assist@ecobank.com."
This process is similar for all banks.
Naira to dollar exchange rate
Meanwhile, the value of the naira kicked off the new week on a low against the United States dollar in the official and unofficial markets.
In the parallel market, also known as the black market, several Bureau de Change operators confirmed that the naira closed weaker to the US dollar.
Similarly, the naira declined against the US dollar in the official market on Monday, August 19, 2025.
CBN data showed that the naira weakened by N1.04 or 0.07% to close at N1,533.77/$1, in contrast to last Friday’s value of N1,532.73/$1.
Source: Getty Images
Here is a snapshot of the currency buying rate for school fees, medicals, and others released by Access Bank.
- IMTO US Dollar: N1,528.00
- US Dollar: N1,500.00
- British Pound Sterling: N1,993.02
- Euro: N1,720.88
- Swiss Franc: N1,825.08
- Japanese Yen: N9.83
- Canadian Dollar: N1,076.91
- Australian Dollar: N957.47
- South African Rand: N82.25
- United Arab Emirates Dirham: N402.35
- Swedish Krona: -
- Singapore Dollar: N1,153.78
- Chinese Yuan/Renminbi: N200.45
Forex inflow increases
Earlier, Legit.ng reported that the Nigerian currency has continued to appreciate in the official foreign exchange market, as forex inflows from critical sources raised the supply side.
The development also came as Nigeria’s external reserves rose by $70 million to $40.654 billion this week, boosting investor confidence.
The dollar turnover has been supported by forex inflows from portfolio investors (FPIs) who bet on Nigeria’s OMO bills and exporters’ contributions, including the latest foreign currency streams from international oil companies (IOCs).
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
