How Much is Dollar to Naira?

Filed in Articles by on September 27, 2023

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How Much is Dollar to Naira – This is a commonly asked questions in the exchange rate market daily. The dollar to naira rate fluctuates regularly thereby impacting massively on investment, trade and even travels between the two countries who use this currency.

how much is dollar to naira

How Much is Dollar to Naira?

Before we move ahead, we must understand the meaning of  Buying and Selling of Dollars. Buying a Dollar means you are getting a dollar with naira, while Selling implies exchanging dollars for naira.

Today, the exchange rate of 1 dollar to naira is 763 naira.

Dollar to Naira CBN Rate Today

Today being 10 October 2023, the Central Bank of Nigeria sells at the rate of 764 Naira and buys at the rate of 763 naira.

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Conversion from US Dollar to Nigerian Naira

The Conversion from US dollars to Nigerian naira can be performed at the current rates and also the  historical rates – to achieve this, pick your desired exchange rate date. Today’s date is usually set by default.

In addition, the currency calculates previous day’s closing rate as well as the lowest rates and the highest rate of the conversion US dollars – Nigerian Naira.

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Countries Using the US Dollars

American Samoa, British indian ocean territory, Ecuador, El salvador, Guam, Haiti, Marshall islands, Northern Mariana Islands, Palau, Panama;

Also, Puerto Rico, Timor-leste, Turks and caicos islands, United states, United states minor outlying islands, Virgin islands (british), Virgin islands (u.s.).

Countries Using the Naira

Nigeria is the only Country that makes use of the Naira.

Factors Affecting Exchange Rates

Exchange rates are not fixed; they fluctuate based on various factors which includes economic factors, policies of government, and speculations of the market.

The economic stability, inflation rates, interest rates and political stability also play massive roles in determining the value of a currency. These listed factors is key to predicting exchange rate movements.

CSN Team.

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