Dollar to Naira exchange rate today : Dollar to Naira CBN rate and Dollar to Naira Bank rate today for November 2, 2023.
- I & E window rate today
The Nigerian naira has faced substantial difficulties primarily because of two major factors: the erratic shifts in oil prices and a deficiency in foreign exchange reserves. These elements have led to a significant depreciation of the naira compared to the US dollar, resulting in a noticeable gap between the official and unofficial exchange rates.
Current Dollar to Naira exchange rate today According to CBN.
The Central Bank of Nigeria (CBN) is responsible for regulating the official exchange rate, which is used in foreign currency transactions involving authorized entities like banks and bureau de change (BDCs). The CBN utilizes various policies and interventions to ensure equilibrium in the supply and demand for foreign exchange within Nigeria.
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100 Dollar to Naira CBN rate:
As of November 2, 2023, the CBN exchange rate Dollar to Naira today stands at:
- Buying: ₦905.75 for $1
- Selling: ₦906.75 for $1
This signifies that the CBN sells one US dollar for ₦906.75 and purchases one US dollar for ₦905.75 from authorized dealers.
100 Dollar to Naira is about 9,5000
Dollar to Naira black market exchange rate today Nov 2, 2023: Aboki dollar to Naira today
FMDQ Exchange Rate Today
According to the FMDQ Securities Exchange Limited, the Investment and Export Window ( I&E) Dollar to Naira exchange rate today is as follows:
- Buying: ₦905.75 for $1
- Selling: ₦906.75 for $1
This signifies that banks sell one US dollar for 906.75 naira and buy one US dollar for 905.75 naira from their customers.
Dollar to Naira Bank rate today
The exchange rate for the dollar to naira varies from bank to bank, but it is generally between 995.83 and 906.75 naira per dollar. Some banks may offer a slightly higher or lower rate, depending on the market conditions.
The dollar to naira bank rate today, Wednesday, November 2, 2023, varies depending on the bank. Here are the rates for some of the major banks in Nigeria:
Access Bank dollar rate
Access Bank: ₦993.83/USD – Buying, ₦905.75/USD – Selling.
Zenith Bank dollar rate
Zenith Bank: ₦993.83/USD – Buying, ₦997.83/USD – Selling
Gtbank dollar to naira exchange rate.
Guaranty Trust Bank: ₦995.83/USD – Buying, ₦906.75/USD – Selling.
First bank dollar rate today in Nigeria
First Bank of Nigeria: ₦980.83/USD – Buying, ₦905.75/USD – Selling
UBA dollar to naira exchange rate today
United Bank for Africa: ₦991.83/USD – Buying, ₦996.83/USD – Selling.
Dollar to Naira Exchange Rate Hits All-Time Low at Official Window
GTBank Dollar to Naira exchange rate black market is as same as the FMDQ Exchange Rate.
It’s crucial to acknowledge that bank exchange rates may exhibit variances among different banks due to factors such as the availability of foreign exchange, demand, and profit margins. However, banks must adhere to the CBN’s guidelines and regulations governing forex transactions.
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Factors Influencing the Dollar to Naira exchange rate today.
Numerous internal and external factors play pivotal roles in driving fluctuations in the Dollar to Naira exchange rate. Some of these influential factors encompass:
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- Oil Prices: Nigeria’s economy heavily hinges on revenue generated from oil exports. Consequently, alterations in global oil prices wield significant influence on Nigeria’s foreign exchange earnings.
- Forex Demand: Nigeria consistently contends with substantial demand for foreign exchange to facilitate imports, service debts, repatriate profits, and meet other financial obligations. This persistent high demand frequently surpasses the available supply, exerting pressure on the naira’s value.
In an ever-evolving currency market, it is wise staying well-informed about the daily Dollar to Naira exchange rate today. Always visit
