Naira to Dollar Exchange Rate Today, Thursday, August 19, 2021

The Nigerian Naira depreciated further against the United States Dollar at the parallel market, popularly known as the black market to N520, a N5 decline when compared to N520 it exchanged on Tuesday.

Against the British and Euro common currency, the Naira lost N1 each to N708 and N607, respectively.

At the Bureau de Change section, the Naira lost N4 against the United States Dollar from N516 it exchanged on Wednesday to N520 on Thursday, while against the British Pound and Euro, the local currency traded at N708 to a British Pound and N606 to a single Euro.

Economic uncertainty continues to dictate the Nigerian Naira’s outlook, especially after the series of changes implemented by the Central Bank of Nigeria (CBN) to prop up the value of the local currency, curb the activities of speculators and hoarders at the unregulated black market and converge the nation’s exchange rates.

However, weak foreign reserves amid chronic forex scarcity remained the bane of Nigeria’s forex predicament. The inability of the Central Bank of Nigeria to service the economy with enough forex given the structure of the economy as an import-dependent economy continues to escalate the price of import goods and the profit of imports dependent businesses. See other exchange rates below.

Naira Black Market Exchange Rates

Morning * Midday** Evening *** Final Rates

Bureau De Change Naira Rates

Central Bank of Nigeria’s Official Naira Rates

N.B: These tables are updated three times a day.