The Canadian dollar exchanged at an average of ₦1,030 to ₦1,040 against the Nigerian naira on Monday, December 1, based on the latest online currency indicators and updates from the parallel market.
Data from public currency-conversion platforms show that 1 Canadian dollar (CAD) currently equals approximately ₦1,028 to ₦1,037 at the mid-market rate.
In the informal foreign exchange market, CAD transactions were recorded at about ₦1,035 for buying and ₦1,043 for selling, though rates continue to differ across bureaux-de-change and individual traders.
Financial analysts note that the persistent gap between mid-market and street-market CAD/NGN rates is largely driven by low official supply of Canadian dollars. As a result, many small-scale importers, travellers, and recipients of remittances depend heavily on parallel market sources for quicker and more accessible forex
