FX Spread & Quote Checker
Check a rate you were quoted against today's market range, and compare two quotes side by side.
Type in the rate someone offered you, in naira per 1 unit of the foreign currency, and this tool shows where it sits against today's parallel market range and the official reference rate. Add a second quote to compare two offers directly. It only tells you where a rate sits, not whether to accept it.
Check a Quote
What are you doing?Today's Reference Range
- Buy (low)
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- Average
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- Sell (high)
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- Official
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Updated hourly.
Go Deeper
What "Spread" Means Here
A spread is the gap between a quoted rate and a reference rate. On this page it is worked out two ways: against today's parallel market average, the average of quotes published on Nigerian rate-tracking websites, and against the official reference rate, an interbank figure from Open Exchange Rates. The tool also checks your quote against the observed buy and sell levels, the lowest and highest of today's published quotes.
Why the Direction You Choose Matters
A single naira number can be good news or bad news depending on which side of the deal you are on. If you are selling foreign currency to get naira, a higher quote gives you more naira, so a rate above the market's buy level works in your favour. If you are buying foreign currency with naira, a lower quote costs you less naira, so a rate below the market's sell level works in your favour. Choosing the wrong direction will read the same number backwards, so check it before you rely on the verdict.
Comparing Two Quotes
If you have offers from two providers, turn on the second quote to see which one is better for you, and by how much per unit and on the amount you entered. This only compares the numbers you type in: it does not know about fees, minimum amounts or how quickly a provider pays out, so ask about those separately.
Frequently Asked Questions
What is an FX spread?
It is the gap between a rate someone quotes you and a reference rate. This tool measures your quote against today’s parallel market average, the observed buy and sell levels (the lowest and highest published quotes), and the official reference rate.
I was quoted a rate. How do I know if it is reasonable?
Type it into Quote A, choose whether you are buying or selling, and pick the currency. The tool shows where your quote sits against today’s range and by how much, as a percentage and in naira. It does not tell you whether to accept it.
Why do I have to choose "buying" or "selling"?
The same number means the opposite thing depending on which side of the deal you are on. If you are selling foreign currency, a higher quote gives you more naira. If you are buying, a lower quote costs you less naira. The tool reads your quote against the correct side of the market for your situation.
What do "buy" and "sell" mean in the reference range?
"Buy" is the lowest quote collected today, roughly what a dealer would pay you for foreign currency. "Sell" is the highest quote, roughly what a dealer would charge you for it. They are not a specific dealer’s prices, just the spread across the quotes we collect.
Can I compare two quotes from different providers?
Yes. Turn on "Compare with a second quote" and enter both. The tool shows which one is better for you and by how much, on a per-unit basis and on the amount you enter. It does not know about fees, minimum amounts or payout speed, so ask about those separately.
Does a wide spread mean I am being cheated?
Not necessarily. Providers price in their own costs, location, liquidity and the size of the transaction, and small or one-off exchanges often carry a wider spread than large or repeat business. A wide spread is worth asking about, not automatically a red flag.
Which currencies does this tool support?
US Dollar, British Pound, Euro and Canadian Dollar, the same four covered by the site’s parallel market average elsewhere. A currency is shown only when at least two quotes from at least two different websites are available for it today.
Is this a live rate?
The reference range updates hourly and shows when it was last collected. It is not real-time, and the rate you are offered can differ by the time you transact.
