GTBank Adjusts FX Rate for International Transactions
Guaranty Trust Bank (GTBank) has slightly lowered the foreign exchange (FX) rate applied to international card transactions, bringing it down to ₦1,543 per dollar as of Wednesday, compared to ₦1,545 charged earlier in the week.
The bank disclosed the new rate in a customer notice, stating: “The FX rate for international payments on your GTBank Naira card today, 20-08-2025, is N1,543. Kindly note that this rate is subject to change and is updated intraday and daily, in line with prevailing market conditions.”
The move comes a month after GTBank and other leading financial institutions — including UBA, Ecobank, Wema Bank, and Stanbic IBTC — reinstated international usage on naira-denominated debit cards. This development followed an extended period when most banks suspended foreign transactions due to persistent foreign exchange shortages and volatility.
With improved liquidity conditions, customers are once again able to use their naira cards for international purchases, online subscriptions, and travel expenses. Analysts view the development as a sign of gradual recovery in Nigeria’s FX market, reflecting progress in ongoing financial and monetary sector reforms.
