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CBN Naira To Dollar Exchange Rate Today 21st October 2023

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Checkout CBN Official Naira To Dollar Exchange Rate Today, 5 July 2023

BY IYABO AINA

CBN Naira To Dollar Exchange Rate Today 21st October 2023 Can Be accessed Below.

News Rain Nigeria has provided an update on the official CBN Dollar To Naira exchange rate today, which also includes exchange rates of Pounds to Naira, Euro to Naira, and more popular currencies used by Nigerians.

IMPORTANT NOTICE: Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has recommended individuals interested in Forex contact their respective banks before proceeding.

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.

What is the CBN naira to dollar rate today?

The CBN Dollar to naira exchange rate today: The exchange rate for a dollar to naira at the official window is N764as of Saturday, 21 October 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 = 764 NGN
1 Dollars = 764 Nigerian Naira
The USDNGN rate as of 21 Oct 2023
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