Findwhosabi News brings you the latest exchange rate for the Dollar to Naira, sourced from official channels, including the Bureau De Change (BDC) and CBN rates.
As per data from the FMDQ Security Exchange, the Naira opened at ₦1383.74 per $1 on Thursday, May 2, and closed at ₦1400.40 per $1 on Friday, May 3, 2024.
However, the black market rate is currently soaring at ₦1,360 per Dollar, despite the recent unification of all foreign exchange market segments by the Central Bank of Nigeria (CBN).
In a circular dated June 14, 2023, the CBN abolished segmentation in FX windows, collapsing them into the Investors and Exporters (I&E) window. This move includes the reintroduction of a free-floating exchange rate system, allowing the Naira’s value to be determined solely by market forces.