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Dollar To Naira Rate Today February 16, 2024
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What is the black market Dollar to Naira rate today February 16, 2024?
Parallel market operators in Lagos and Abuja are trading Dollar to Naira at N1600/$ today, February 16, 2024.
In the Peer2Peer trading session, currency traders are exchanging dollars at N1610/$1 in the morning session.
READ ALSO: Dollar To Naira Rate Today February 14, 2024
Currency dealers claim that the naira depreciated as a result of speculators’ strong demand for dollars as well as travelers’ needs for business, vacation, education, and health.
The naira however gained by 0.3 percent to N1498/$ in the official market on Thursday, according to data from FMDQ Securities Exchange, which calculates the rate. The currency gained after the Central Bank of Nigeria (CBN) sold a little above $100 million to banks that did not get dollars in Tuesday’s sale of about $86 million.