CBN dollar to naira exchange rate today 16 September 2023 can be accessed below.
The parallel exchange rate (black market rate) always differs from the CBN rate. The exchange rate between the USD and the Nigerian Naira significantly impacts the Nigerian economy.
As the Naira falls in value, inflation takes over the economy, which usually impacts the inhabitants. The Central Bank has stated that the Nigerian economy needs a significant turnaround and has asked Nigerians to work toward this goal, such as increasing exports.
The black market rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website.
News Rain Nigeria reports that the dollar-to-naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. These rates are almost always cheaper than those on the black/parallel market.
CBN Dollar To Naira Exchange Rate Today
The CBN Dollar to naira exchange rate today: The exchange rate for a dollar to naira at the official window is N783.2 as of Saturday, 16 September 2023, according to the data published by CBN.
The CBN exchange rate of dollar to naira today, according to the data posted on the Central Bank of Nigeria (CBN) Currency Exchange Rate where forex is official is as follows:
Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.
|1 USD = 783.2486 NGN|
|1 Dollars = 783.2486 Nigerian Naira|
|The USDNGN rate as of 16 Sep 2023 at 12:08 PM|