Findwhosabi News has obtained the latest official exchange rates for the dollar to the naira in Nigeria, including Bureau De Change (BDC) and Central Bank of Nigeria (CBN) rates.
The Naira opened at ₦1481.03 per $1 on Monday, June 10, and closed at ₦1473.66 per $1 on Tuesday, June 11, 2024, according to data from the FMDQ Security Exchange. Despite the CBN’s unification of all foreign exchange segments, the black market rate is trading as high as ₦1,470 per dollar.
The CBN announced on June 14, 2023, that all FX segments are now merged into the Investors and Exporters (I&E) window. The bank has introduced a “Willing Buyer, Willing Seller” model at the I&E Window, reintroduced order-based two-way quotes, and removed trading limits on oversold FX positions. These changes imply a shift towards a free-floating exchange rate, where the value of the naira is determined by market forces.
