![]() ![]() ![]() We therefore do not expect a currency float to succeed over 2024-28, although it seems likely that the fuel subsidy will end when the Dangote refinery is able to replace imports, from late 2024 onwards. It argued, “However, other factors undermining the naira, such as deeply negative short-term real interest rates, require an orthodox monetary policy that the authorities have not demonstrated enough appetite for. Dollar to Naira Exchange Rates Dollar to Naira exchange rate is 908.16 in CBN, 800.21 in FX Market, 378.52 in Moneygram, and 380. The research and analysis division of the Economist Group also highlighted that the decision of the government to scrap import controls on 43 imported items - while being positive for a market-led naira -will generate added demand in the formal market against limited supply. It added that high inflation and a continued spread with the parallel market will leave the exchange-rate regime unstable and result in periodic devaluations. It stated that it does not expect lasting commitment to a market-led naira, as the apex lacks experience of conducting monetary policy under a float. As of today, at 04:00AM UTC one us dollar is equal to 823.68 (NGN) or eight hundred twenty-three naira 68 kobos. 100 US dollars to Nigerian nairas Convert USD to NGN at the real exchange rate Amount USD Converted to NGN 1.00000 USD 790. It further declared that the naira would end 2024 at N822.9/$, 2025 at N1,142.5/$, and 2028 at N1,262.1/$. Convert NGN to USD at the real exchange rate with Wise, a smart and efficient currency converter. In the short to medium term, the official exchange rate will continue to be propped up by access restrictions, implying long lead times at the NFEM.” “Official foreign reserves are reported at US$33bn, but up to one-third of the assets are encumbered, tied up in derivative contracts or loans. The web page shows the USD to Naira exchange rate for today, December 5, 2023, in different zones and cities of Nigeria. Commenting on the CBN’s attempt to clear its backlog, it said, “The CBN lacks the firepower to adequately supply the market or clear a backlog of foreign exchange orders, valued at over $6bn, which will keep foreign investors unnerved. Select the receive method and delivery partner to check the exchange rate, transfer fees and the total amount your receiver will get in. Choose a receive method, pay for your transfer and. Fast, low-cost and secure online money transfers to Nigeria. It highlighted that this unsupportive monetary policy would continue to put the naira under pressure. Transfer money in Naira or US dollar via bank transfer or cash pickup. In a country report released in November, the EIU stated that after floating the naira in June, the CBN has since reverted to guiding the exchange rate by limiting access to foreign-exchange sales for banks and other dealers that quote hard currency outside a preferred rate. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.Meanwhile, the naira is expected to close 2023 at N810/$ on the official market, Economist Intelligence has disclosed. compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. On Septemthe Official USD to NGN Exchange Rate: Close: 1 USD 779.8 NGN. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. We may also receive compensation if you click on certain links posted on our site. XE’s free live currency conversion chart for Nigerian Naira to US Dollar allows you to pair exchange rate history for up to 10 years. We may receive compensation from our partners for placement of their products or services. XEs free live currency conversion chart for Nigerian Naira to US Dollar allows you to pair exchange rate history for up to 10. Zimbabwean Dollar to Nigerian Naira conversion Last updated Dec 18, 2023, 23:45 UTC. You won’t receive this rate when sending money. South African Rand to Nigerian Naira conversion Last updated Dec 14, 2023, 00:31 UTC. We use the mid-market rate for our Converter. While we are independent, the offers that appear on this site are from companies from which receives compensation. We use the mid-market rate for our Converter. ![]() All international money transfer servicesį is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. ![]()
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