The official exchange rate between the Nigerian Naira (₦) and the US Dollar ($) for today, October 18, 2023, is as follows:
- Opening rate: ₦758.50 per dollar
- Closing rate: ₦848.12 per dollar
However, it’s important to note that the Naira is trading at a higher rate of ₦1045 per Dollar in the black market, despite the Central Bank of Nigeria’s announcement of the unification of all segments of the foreign exchange market. The recent changes in the foreign exchange market indicate a move toward a more flexible exchange rate system.
Please be aware that exchange rates can fluctuate frequently, and it’s advisable to check with official sources or financial institutions for the most up-to-date rates and any recent policy changes.