GTBank on Wednesday reduced the foreign exchange (FX) rate for international transactions to N1,543, down from N1,545 charged on Monday.
The bank announced the adjustment in a notice sent to customers.
“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 statement read.
Last month, major commercial banks including Guaranty Trust Bank (GTBank), United Bank for Africa (UBA), Ecobank, Wema Bank, and Stanbic IBTC resumed international usage on Naira-denominated debit cards, allowing customers to make purchases and withdrawals abroad.
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The development followed months of tight restrictions driven by foreign currency shortages and volatility in the exchange market, during which most banks had suspended international card transactions.
With FX conditions improving, banks have lifted those restrictions, offering relief to customers who rely on Naira cards for online subscriptions, travel expenses, and payments on international platforms.
The resumption of cross-border Naira card usage, alongside improved liquidity, is viewed by analysts as a positive sign for Nigeria’s FX market, reflecting cautious optimism as financial sector reforms gain momentum.
