For today, August 31, 2023, see the dollar to naira exchange rate listed below.
The Bureau De Change (BDC) rate and CBN rates, as well as the official dollar to naira exchange rate in Nigeria today, have been obtained by Findwhosabi News.
What Is the current official exchange rate between the dollar and the naira?
According to information published on the FMDQ Security Exchange, the official currency trading portal, the exchange rate between the Naira and the US dollar on Wednesday, August 30, 2023, revealed that the Naira began at 781.24 Naira to $1 and finished at 738.18 Naira to $1.
On June 14, 2023, the Central Bank of Nigeria (CBN) declared that all parts of the foreign exchange (FX) market would be combined.
Circularly, theThe action is a part of a number of immediate modifications to operations in the Nigerian FX market, according to the top bank.
Segmentation is to be eliminated, it said. Currently, the Investors and Exporters (I&E) pane contains all segments. Application processing through deposit money banks would still be used for medicals, school fees, BTA/PTA, and SMEs.
“Re-introduction of the Willing Buyer, Willing Seller” model at the I&E Window. The current window establishment circular, FM/DIR/CIR/GEN/08/007, dated 21 April 2017, will serve as the operational manual for this window. At this time, foreign exchange is accessible to all qualified transactions.
The weighted average rate of the executed transactions from the previous day should serve as the operating rate for all government-related transactions.