As of today, the INR to Naira street rate is positioned at ₦19.00. With the official rate at ₦14.39, the current 32.1% spread indicates significant market decoupling.
Analyst Note: The high spread suggests a shortage of INR in the official window, driving buyers to the street.
| Amount | Street Rate | Bank Rate |
|---|---|---|
| 1 INR | ₦19.00 | ₦14.39 |
| 100 INR | ₦1,900.00 | ₦1,438.72 |
| 1,000 INR | ₦19,000.00 | ₦14,387.16 |
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