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See How Much Naira Gained Against Dollar

Dollar To Naira Exchange Rate For Today 23 April 2024
On Monday, February 26, 2024, the official exchange rate of the Nigerian Naira against the US dollar strengthened by 5.22% to N1,582.94 per dollar, indicating a significant appreciation of the domestic currency.

Gatekeepers News reports that the Naira faced heightened demand pressure, which resulted in an intraday high of N1,778 against the dollar.

According to data obtained from the Nigerian Autonomous Foreign Exchange Market (NAFEM), which is the official platform for forex trading, the Naira experienced an N82.56 drop or a 5.22% increase in the local currency compared to the N1,665.5 closed on Friday.

The intraday high recorded a record high of N1,778/$1, while the intraday low was N1,300/$1, representing a wide spread of N478/$1.

Furthermore, forex turnover at the close of trading was $154.16 million, representing a 1.47% increase compared to the previous day.

Similarly, in the parallel forex market, where forex is unofficially traded, the Naira appreciated against the dollar, with the exchange rate quoted at N1,650/$1, indicating a 6.06% increase from the N1,750 rate it closed at the previous day.

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