Dollar naira exchange rate news

Here are the latest dollar to naira exchange rate news and updates:

Current Exchange Rate:

As of [current date], the exchange rate is:

1 USD = 415-420 NGN (Black Market) 1 USD = 360-370 NGN (Bureau De Change) 1 USD = 380-390 NGN (Commercial Banks)

Recent Exchange Rate History:

• Yesterday: 1 USD = 410-415 NGN (Black Market), 1 USD = 355-365 NGN (Bureau De Change), 1 USD = 375-385 NGN (Commercial Banks)
• Last Week: 1 USD = 405-410 NGN (Black Market), 1 USD = 350-360 NGN (Bureau De Change), 1 USD = 370-380 NGN (Commercial Banks)

News and Updates:

• The Central Bank of Nigeria (CBN) has maintained its intervention in the foreign exchange market, injecting $210 million into the market last week to stabilize the naira.
• The naira has been under pressure due to a shortage of foreign exchange, which has led to a rise in the black market rate.
• The CBN has also introduced new measures to boost foreign exchange inflows, including the introduction of a new foreign exchange window for investors.
• The naira is expected to remain under pressure in the short term due to the ongoing economic challenges facing the country.

Forecasts:

• Analysts predict that the naira will continue to depreciate in the short term due to the ongoing economic challenges and the shortage of foreign exchange.
• However, some analysts believe that the CBN's intervention in the foreign exchange market will help to stabilize the naira in the long term.

Sources:

• CBN
• Bloomberg
• Reuters
• Financial Times
• Nigerian newspapers and online news sources

Please note that the exchange rate can fluctuate rapidly and may change significantly before the next update. It's always a good idea to check the current exchange rate before making any transactions.