What the naira pays, in dollars.
Nigerian rates are far above dollar rates. That gap pays for the risk that the naira falls. Here's what markets price today, and how far the naira can fall before you'd lose.
| $1,000 for a year, before fees | Rate | Naira holds | Naira falls 20% | Break-even fall |
|---|---|---|---|---|
| Naira futuresThe annualised gap on the nearest series on Numo, live | ||||
| 364-day naira T-billAuction stop rate, 4 November 2026 | 15.8% | $1,158 | $926 | 13.6% |
Illustrative arithmetic, not a forecast. These are market prices, not returns anyone has earned, and a one-year figure for a short futures series assumes the same gap can be renewed. T-bill source: Nairametrics.
The risk is the whole story
The naira has lost most of its dollar value in recent years. If it falls further than the rate pays for, you lose dollars. Futures can also be closed out early, and thin markets may not let you leave at the price you expect.
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This page is information only. It isn't an offer, a recommendation or financial advice. LandedFX doesn't currently offer access to these markets to the public.