Findwhosabi News has obtained the official dollar to the naira exchange rate in Nigeria, including the Bureau De Change (BDC) rate and CBN rates.
The exchange rate between the Naira and the US dollar according to the data released on the FMDQ Security Exchange, the official forex trading portal showed that the Naira opened at ₦1569.52 per $1 on Friday, July 12, and closed at ₦1577.29 per $1 on Monday, July 15, 2024.
The Naira is trading At a height of ₦1,560 per Dollar at the black market even though the Central Bank of Nigeria (CBN) announced the unification of all segments of the foreign exchange market.
The bank of apex, in a circular on Wednesday 14th June 2023, said all FX windows were now collapsed into the investors & exporters (I&E) window.
The statement read, “Abolishment of segmentation. All segments are now collapsed into the Investors and Exporters (I&E) window. Applications for medicals, school fees, BTA/PTA, and SMEs would continue to be processed through deposit money banks.
“Re-introduction of the “Buyer, Seller” model at the I&E Window. Operations in this window shall be guided by the extant circular on the establishment of the window, dated 21 April 2017, and referenced FM/DIR/CIR/GEN/08/007. All eligible transactions are permitted to access foreign exchange at this window.
All government-related transactions shall be the weighted average rate of the preceding day’s executed transactions at the I&E window, calculated to two (2) decimal places.
The changes to operations in the country’s FX market imply that Nigeria has eased its control of the naira, allowing the local currency to float freely.
