The Central Bank of Nigeria (CBN) publishes the daily exchange rate of the Nigerian naira to the US dollar. This information is crucial for businesses and individuals who need to convert between the two currencies.
As of July 20, 2023, the latest data from the Central Bank of Nigeria (CBN), the Official exchange rate of naira to dollar today is as follows:.
Official naira to dollar rate today
- Buying rate: 782.81 naira per US dollar
- Selling rate: 783.81 naira per US dollar
These rates, effective as of today, play a significant role in facilitating financial transactions and conversions between the Nigerian naira and the US dollar. It is important to note that exchange rates may fluctuate in response to market conditions and other factors.
Dollar to Naira naira yesterday.
The Nigerian Naira to the US Dollar closed yesterday at 791.51
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This means that if you want to buy 1 US dollar, you will need to pay 782.81 naira. And if you want to sell 1 US dollar, you will receive 783.81 naira.
The exchange rate can fluctuate from day to day, so it is important to check the CBN website for the latest rates before making any transactions.
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Nigerian Stock Market Stalls Amidst Selloffs: Geregu Power and Prestige Stocks Lead the Decline.
On Wednesday, the Nigerian stock market experienced a pause in its upward movement due to selloffs in Geregu Power, Prestige, and other stocks. Despite gains recorded by Honeywell, Eterna, and some other companies on the advance list, the overall market was unable to avoid a loss of N5.16 billion.
At the close of trading, this dip resulted in a slight reduction in market capitalization from N34.72 trillion to N34.71 trillion. Additionally, 9.49 basis points were wiped off the All-Share Index, bringing it down from 63,766.72 to 63,757.23.
During Wednesday’s trading session, the capital market saw 473.49 million shares traded in 7,403 deals, valued at N10.08 billion. This was lower than Tuesday’s trading activity, which saw 868.80 million shares traded in 8,970 deals, worth N42.80 billion.
Among the gainers’ list, Honeywell Flour stood out with a rise of N0.33 kobo in share value, closing at N3.63 kobo from N3.30 per share. Eterna also made significant gains, gaining N2.60 kobo to reach N28.65 kobo per share from N26.05.
Academy saw an increase of N0.20 kobo, closing at N2.21 kobo, surpassing its opening price of N2.01 per share. Skyway Aviation experienced a notable rise in share price by N1.45 kobo, moving from N14.75 kobo to N16.20 per share.
On the other hand, RT Briscoe recorded an impressive 9.80 percent rise in share price, appreciating from N0.51 kobo to N0.56 kobo per share. However, Prestige topped the losers’ table with a 10 percent decline, dropping from N0.50 kobo to N0.45 kobo per share. Geregu’s share price also dropped by N35, ending trading at N315 from N350 per share.
FTN Cocoa experienced a loss of N0.22 kobo, ending trading at N2.07 from N2.29 kobo per share. Linkage Assurance also saw its share drop from N0.77 kobo to N0.70 kobo per share after a 9.09 percent loss during trading. Jaiz Bank lost N0.17 kobo, dropping from N1.88 kobo to N1.71 kobo per share.
Japaul Gold led the day’s trading with 77.98 million shares valued at N64.58 million. Following closely, FCMB traded 36.62 million shares worth N221.83 million. Sterling Bank sold 31.23 million shares worth N109.04 million, and Dangote Sugar traded 30.70 million shares valued at N845.90 million. Fidelity Bank sold 22.28 million shares valued at N160.85 million.
Here are some of the factors that can affect the CBN exchange rate between the Nigerian naira and the US dollar:
- Demand and supply: If there is more demand for the US dollar than there is supply, the exchange rate will go up. Conversely, if there is more supply of the US dollar than there is demand, the exchange rate will go down.
- Economic factors: The state of the Nigerian economy and the US economy can also affect the exchange rate. For example, if the Nigerian economy is doing well, the naira will be more valuable. Conversely, if the Nigerian economy is doing poorly, the naira will be less valuable.
- Political factors: Political instability in Nigeria or the US can also affect the exchange rate. For example, if there is a coup in Nigeria, the naira will likely lose value.
If you are planning to travel to Nigeria or the US, it is important to factor in the exchange rate when budgeting for your trip. You can use a currency converter to get an estimate of how much your money will be worth in the other currency.
You can also check the CBN website for the latest exchange rates. The website also has a currency converter that you can use.
That is all for now in the Official Naira to Dollar exchange rate today which is all the I & E dollar to naira exchange.
I hope this cbn exchange rate us dollar to naira post has been helpful. If you have any questions, please feel free to leave a comment below.
