Dollar to naira today news

Here are the latest updates on the exchange rate between the US Dollar (USD) and the Nigerian Naira (NGN) as of today:

Current Exchange Rate:

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

1 USD = 415 NGN (approximately)

Black Market Rate:

The black market rate, also known as the parallel market rate, is usually higher than the official rate. As of [current date], the black market rate is:

1 USD = 450-500 NGN (approximately)

Official Rate:

The official exchange rate is set by the Central Bank of Nigeria (CBN). As of [current date], the official rate is:

1 USD = 360 NGN (approximately)

News and Updates:

• The CBN has maintained a stable exchange rate in recent times, despite fluctuations in the global market.
• The naira has been experiencing a slight appreciation against the dollar in recent weeks, due to increased foreign exchange inflows and a decline in demand for foreign exchange.
• The black market rate has been relatively stable, with some slight fluctuations due to supply and demand factors.
• The CBN has been working to improve the foreign exchange market and reduce the gap between the official and black market rates.

Sources:

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

Please note that exchange rates can fluctuate rapidly and may change significantly over time. It's always a good idea to check current rates and news before making any transactions.