Naira rises as Tinubu takes the helm

The Nigerian Naira appreciated against the US dollar on Tuesday, the same day that President Bola Ahmed Tinubu was sworn into office.

The Naira traded at N464.50 to the dollar at the Investors’ and Exporters’ window, slightly higher than the N464.51 to the dollar on May 26.

The open indicative rate also closed at N464.10 to the dollar on Tuesday.

The Naira recorded a high of N467 to the dollar and a low of N460 to the dollar during the day’s trading.

A total of 120.36 million dollars was traded at the official Investors and Exporters window on Tuesday.

Meanwhile, at the Lagos Parallel Market (Black Market), the Naira sold for N760 to buy and N775 to sell on Tuesday, according to sources at Bureau De Change (BDC).

The Central Bank of Nigeria (CBN) does not recognize the parallel market, and has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)                Black Market Exchange Rate Today

Buying Rate                                            N760

Selling Rate                                            N775

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

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