Nigerian Naira opened at N414.05 to a United States Dollar on Wednesday at the Investors and Exporters Forex Window, slightly better than N414.50 it closed on Tuesday.
Investors traded $127.68 million worth of currency at the fx window during the trading hours of Tuesday.
However, Naira future fx rose as high as N420.99 while spot fx hits at N415.00 against the United States Dollar.
Dollar to Naira exchange rate varies depending on forex segment, for instance despite the Central Bank of Nigeria (CBN) ‘s efforts at ensuring no media outlet publish black market rates, Dollar to Naira exchange rate at the unregulated forex section is over N550. This, experts have blamed on forex scarcity caused by CBN inability to efficiently service the Nigerian economy with enough forex. Below is GTCO and CBN forex rates as at today September 29, 2021.
Guaranty Trust Holding Company Plc (GTCO) USD to Naira, Euro to Naira and Pounds to Naira rates
| Currency |
Bid |
Offer |
|
USD
|
413.500
|
413.500
|
|
GBP
|
1.356
|
1.386
|
|
JPY
|
113.030
|
108.030
|
|
EUR
|
1.158
|
1.188
|
Central Bank of Nigeria Official Rate
