HomeFinanceForex: Dollar To Naira...

Forex: Dollar To Naira Trading For Today 27th September 2023

Updated: September 27, 2023

Today, Findwhosabi News provides the official exchange rate for the US Dollar to the Nigerian Naira, including rates for the Bureau De Change (BDC) and the Central Bank of Nigeria (CBN).

Official Exchange Rate (FMDQ Security Exchange):

  • Opening Rate: ₦771.98 per US Dollar on September 25, 2023
  • Closing Rate: ₦773.25 per US Dollar on September 25, 2023

Black Market Rate:

  • Currently as high as N995 per US Dollar

Despite the Central Bank of Nigeria (CBN) announcing the unification of all segments of the foreign exchange market, the Naira is trading significantly higher at the black market.

The CBN’s circular on June 14, 2023, abolished segmentation in the foreign exchange market and collapsed all segments into the Investors and Exporters (I&E) window. It also reintroduced the “Willing Buyer, Willing Seller” model at the I&E Window, among other changes.

These operational changes imply that Nigeria has eased its control over the Naira, allowing it to float freely in the foreign exchange market. A free-floating exchange rate means that the exchange rate is determined purely by market forces, and there is no attempt by the central bank to influence its external value.

Please note that exchange rates may fluctuate, so it’s essential to check for real-time rates when conducting currency transactions.

Download our official mobile app

Most Popular

More from Findwhosabi

Dollar To Naira Exchange Rate, July 17, 2024

Findwhosabi News has gotten the official dollar to the naira exchange...

Dollar To Naira Exchange Rate, July 16, 2024

Findwhosabi News has obtained the official dollar to the naira exchange...

Dollar To Naira Exchange Rate, July 15, 2024

Findwhosabi News has obtained the official dollar to the naira exchange...

Dollar To Naira Exchange Rate , July 13, 2024

Findwhosabi  News has obtained the official dollar to the naira exchange...