Today Exchange Rates: Naira Appreciates to N1460 Per Dollar in Black Market

The Nigerian Naira has seen an appreciation today February 28, 2024, gaining against the US dollar and selling at N1460 to a dollar in the black market.

The black market rate is subject to certain factors like Supply and demand for the Dollar, official value of naira to dollar, economic policies in the US and Nigeria as well as the political situation of both nations.

The rate was also collaborated by popular FX speculating website, Abokiforex.com.

The new FX rates were also shared by an online FX update platform, Naira Rates on their verified handle on X, with a slight difference. Naira Rates published !USD to N1463,098.

REPORT AFRIQUE earlier reported of reforms embarked upon by the Nigerian government as part of the efforts to stabilize the naira against the dollar.

One of such reforms was the daily injection of $20,000 each to verified BDC operators by the Nigerian apex bank, the CBN.