The official exchange rate for the US dollar to the Nigerian Naira today, September 7, 2023, is as follows:
- Opening rate: ₦766.67 per dollar
- Closing rate: ₦771.59 per dollar
These rates are based on data released on the FMDQ Security Exchange, the official forex trading portal in Nigeria.
It’s important to note that the Central Bank of Nigeria (CBN) recently announced the unification of all segments of the forex exchange market, collapsing all FX windows into the investors and exporters (I&E) window. This move is part of efforts to streamline and reform the forex market in Nigeria.
As a result of these changes, the Naira’s exchange rate is expected to be influenced more by market forces, as the country eases its control over the currency, allowing it to float more freely. Please note that exchange rates can fluctuate, so it’s advisable to check for real-time rates from reliable sources if you need the most up-to-date information.