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Foreign exchange

See the Current Exchange Rate Of Dollar To Naira And Others

The exchange rate is the major indicator of the standard of living of people in a country like Nigeria. This is because in any import dependent economy like Nigeria, many of the items used by the citizens are imported.

Secondly every businessman whether importer or not needs to keep abreast of the exchange rate of major currencies of the world.This is important for planning your economic affairs

The Naira exchange rate for the dollar in the parallel market came to all time high this week as a dollar which was previously exchanged for N475 appreciated to N484 in the parallel market. Conversally, the Naira depreciation to all time low of N484 to 1 dollar.

The British Pounds also sold at N675 instead of 688 it sold in the previous week. However, the Naira is sold N412/$1 in the Importers and Exporters (I&E) window.

Below is the Naira exchange rate for major currencies of the world in the parallel market.

1. US dollars - N484/$1

N1 = $0.00207

2. British Pounds - N675/£1

N1 = £0.00148

3. Japanese Yen - N3.50/¥1

N1 = ¥0.28587

4. Euro - N578/€1

N1 = €0.00173

5. Chinese Yuan - N68/¥1

N1 = ¥0.01471

Content created and supplied by: Businesshub1 (via Opera News )

British Naira Nigeria


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