Naira To Dollar Exchange Rate Today April 22, 2024

Here is a report on the Naira to Dollar exchange rate today April, 22, 2024.

The Eagle reports that the Naira still did not do well in exchange against the United States Dollar at the NAFEM market today, trading at N1,234.49 to a $1.

Data obtained from the FMDQ showed the Nigerian national currency depreciate from the N1,169.99 it exchanged with the dollar on Friday April 19, 2024, again dampening hopes of a sustained improvement of value.

READ ALSO: Dollar To Naira: Traders Point To N900/$1 As Black Market Rate Now Double Official Rate

There have though been divergent views concerning the exchange rate of the Naira in the recent, though on a bounce-back overall.

Meanwhile, the Central Bank of Nigeria, remains optimistic Naira to Dollar exchange rate going forward.

Its governor, Olayemi Cardoso, has spoken about a relative stability being achieved particularly in the FX market, saying the economy was successfully transiting from firefighting to strategic planning across key areas.

“April saw the naira emerge as the best-performing currency globally, supported by bullish sentiment from leading international investment institutions.

“Our FX market is experiencing robust activities, with turnover reaching levels not seen in over seven years. This liquidity boost instils confidence among investors, businesses, and other partners”, he asserted in an address to journalists at the World Bank/IMF spring meetings.

READ ALSO: What We Must Do To Make The Naira Rise Again – Adeboye

The exchange rate of the Naira, closed at N1,234.49/$ representing a 5.22% decline in one day, according to trading data obtained by the Eagle.

The Eagle will sustain its overview on the Naira to Dollar exchange rate to properly guide users.