1 Dollar to Naira Today: 11, October 2023
How much is 1 dollar to naira? You may have asked this question due to the fact that you intend to change your dollar to naira today at the authorized exchange market or the Aboki Fx or Black Market.
How Much is 1 Dollar to Naira (CBN Rate)
The CBN rate of for 1 Dollar is 763.65naira.
How Much is 1 Dollar to Naira (Black Market)
1 dollar to naira exchange rate is 1002 naira at a buying rate and 1008 naira at a selling rate.
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Factors Regulating the Exchange Rates
Several factors influence the exchange rate of 1 Dollar to Naira today and they include:
1. Financial Conditions: The strength and the stability of the Nigerian Economy being in comparison to the United States can impact greatly on the rate of exchange.
2. Interest: Fluctuating interest rates between the concerned countries that uses the affected currencies, can draw foreign capital and influence currency values.
3. Rising Prices: High inflation in Nigeria can destroy the ability to purchase with Naira, thereby affecting exchange rates.
CSN Team.
