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Information reaching Kossyderrickent has it that 1 USD is N1220 in Nigeria black dollar to naira exchange market as at today, October 23, 2023.
The free-fall of the Naira against the Dollar in the parallel market segment of the foreign exchange (FX) market continued on Monday morning.
Business Post reports that in the unofficial market window, the Nigerian Naira crumbled against the greenback in the black market today by N67 or 5.81 per cent to quote at N1,220/$1 compared with last Friday’s value of N1,153/$1.
One of the FX traders on the streets of Lagos, identified as Alhaji Isa, informed this newspaper that with the way things are going, the street value of the country’s legal tender could go as low as N1,500 before December 2023.
The Central Bank of Nigeria (CBN) under the leadership of Mr Yemi Cardoso is yet to impress observers as to how he intends to save the Naira from total collapse.
A few weeks ago, in an effort to salvage the situation, he announced the lifting of the forex embargo earlier placed on the importation of 43 items, which included cement, rice, sugar, milk and others.
In 2015, under the leadership of Mr Godwin Emefiele, who was removed from office in June 2023, the apex bank restricted importers of these items from accessing FX from the official window.
At the exchange rate of 771.732 on 9th October 2023, a sum of $1,025 is worth ₦791,023.25.
Using the 30 day high exchange rate of 788.71, a sum of $1,025 would be worth ₦808,427.75, while at the 30 day low of 739.01 it would be worth ₦757,485.25. This variance equates to ₦50,942.5 over the last 30 days.
At the highest exchange rate seen in the last 7 days, $1,025 would be worth ₦791,023.25, while at the weekly low it would be worth ₦781,162.75. This weekly variance equates to ₦9,860.5.
How much is 1025 US Dollar in Nigerian Naira? – 1025 USD to NGN (1025 US Dollar to Nigerian Naira) is 776,867.30 NGN with exchange rate 757.9193 for today. For your convenience Mconvert has online US Dollar to Nigerian Naira (USD vs NGN) history chart and a table of popular currency pairs with their latest exchange rates for 10/11/2023. If you don’t feel like visiting the site every day, currency converter widget or exchange rates widget can be installed on your website in a matter of minutes. Don’t stop, there is a currency converter sidebar to your right so you can make more conversions.
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