The official exchange rate for the US Dollar (USD) to the Nigerian Naira (NGN) on September 14, 2023, is as follows:
- Opening rate: ₦761.24 per USD
- Closing rate: ₦742.10 per USD
It’s important to note that the Central Bank of Nigeria (CBN) has recently announced the unification of all segments of the foreign exchange (FX) market, collapsing them into the Investors and Exporters (I&E) window. This move is part of efforts to streamline and unify the FX market in Nigeria. The CBN has also reintroduced the “Willing Buyer, Willing Seller” model at the I&E window and implemented other changes to the FX market operations.
As a result of these changes, the exchange rate may fluctuate in response to market forces. It’s advisable to check with official sources or financial institutions for the most up-to-date exchange rates.