The Central Bank of Nigeria has continued to make frantic efforts at improving the stance of the falling naira in the foreign exchange market without success.
The naira has continued to edge closer and closer to the 1000 naira predicted by analysts.
So are you an importer of goods or a businessman who deals in dollars, then you need to monitor dealings around forex.
As part of the efforts of the CBN in reducing the volatility of the naira and curbing black market activities.
A price verification system has been launched, though to provide access to forex for importers.
The naira however on the black market continues to exchange at between ₦870 and ₦915, when buying.
While selling is done between ₦835 and ₦900, depending on the currency dealers.
Here is the USD to Naira rate for today:August 18, 2023
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Black Mark Table Rate
$1 ₦870
$5 ₦4350
$10 ₦8700
$15 ₦13050
$20 ₦17400
$25 ₦21750
$30 ₦26100
$40 ₦34800
$50 ₦43500
$100 ₦87000
$150 ₦130500
$200 ₦174000
$250. ₦217500
$300 ₦261000
$350 ₦304500
$500 ₦435000
$750 ₦652500
$1000 ₦870000
$1500 ₦1305000
$2000 ₦1740000
$5000 ₦4350000
$10000 ₦8700000
Black Market Rate For Pounds And Euro
The Euro to Naira trades at 950 buy and 920 sell respectively in the black market.
It would have been expected that the naira would rise against the Euro, in view of the recession the European economy is witnessing.
The Pound to Naira continues to exchange at 1180 buy, and 1140 sell at the black market rate.
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