Findwhosabi News has obtained the latest exchange rates for the US dollar to the Nigerian naira. According to data from the FMDQ Security Exchange, the official forex trading portal, the naira opened at ₦1471.42 per $1 on Thursday, June 13, and closed at ₦1482.72 per $1 on Friday, June 14, 2024.
In the black market, the naira is trading as high as ₦1,470 per dollar despite the Central Bank of Nigeria’s (CBN) recent announcement of unifying all segments of the foreign exchange market.
The CBN’s circular on June 14, 2023, stated that all FX windows are now consolidated into the Investors and Exporters (I&E) window. The new guidelines allow for the “Willing Buyer, Willing Seller” model at the I&E Window and remove trading limits on oversold FX positions, promoting a free-floating exchange rate determined by market forces.