The fight in the black market between the Naira and the dollar, has not favoured the Nigerian currency at all, as the dollar continues to beat the Naira down on all fronts.
Against every known tactics adopted by the government, the Naira has not been able to rise from all the beatings it gets from the dollar.
When the multiple exchange rate was unified in June by the Central Bank of Nigeria (CBN), it was with a view to giving the Naira extra life, to favourably fight against the dollar and win.
You might not be able to say that purpose has been achieved, seeing the upper cuts and body slams the Naira has been receiving from the dollar in the exchange arena.
Have You Read: Dollar To Naira Black Market Exchange Rate
So it is not surprising that when trade began in the black market on Monday, the dollar was up by 0.07% trading at ₦918 against the Naira.
As of today, Wednesday, August 30, 2023, in Lagos, dollar is being traded at ₦925 in black market.
In the last few months, the battle between the United States Dollar and the Nigerian Naira has not favoured the Naira at all. In fact, the dollar has maintained a steady rise in the black market.
This is happening at a time when BRICS nations have agreed to stop using the dollar for international trade and traders are very cautious in America due to scare of interest rate hike.
Dollar to Naira Rate for Past 7 Days
| Date | Buy | Sell |
| August 29, 2023 | 918 | 907 |
| August 28, 2023 | 915 | 906 |
| August 27, 2023 | 918 | 907 |
| August 26, 2023 | 915 | 906 |
| August 25, 2023 | 915 | 910 |
| August 24, 2023 | 920 | 906 |
| August 23, 2023 | 915 | 910 |
