Findwhosabi News has uncovered the latest dollar to naira exchange rate for April 28, 2024, shedding light on the official rates provided by both Bureau De Change (BDC) and the Central Bank of Nigeria (CBN).
As per data from the FMDQ Security Exchange, the official forex trading portal, the naira opened at ₦1346.35 per $1 on Thursday, April 25, and closed at ₦1339.23 per $1 on Friday, April 26, 2024.
Despite the official figures, the black market paints a different picture, with the naira trading as high as ₦1,300 per Dollar. This comes amidst the Central Bank of Nigeria’s (CBN) announcement of unifying all segments of the foreign exchange market.
In a circular issued on Wednesday, June 14, 2023, the CBN abolished segmentation, consolidating all segments into the Investors and Exporters (I&E) window. This move reintroduces the “Willing Buyer, Willing Seller” model, allowing eligible transactions access to foreign exchange at this window.
Furthermore, the operational changes signify Nigeria’s shift towards a more liberalized exchange rate regime, easing control over the naira and allowing market forces to determine its value.