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Naira Further Depreciates To N1,880/$1 For February 21 Exchange
Despite efforts made by the Federal Government of Nigeria to stabilize the harsh economy, naira is exchanging today, February 21 2024, for 1 US Dollar to 1,880.268 Naira at the parallel market (black market). This means that you can get 1880.268 Naira for every 1 Dollar that you exchange.
This information was disclosed by Naira rates via a tweet on its X official account on Wednesday. See tweet below 👇
Note that the Black Market Exchange rate is typically higher than the official exchange rate because it is not regulated by the government.
Factors that affect the Dollar to Naira Black Market Exchange rate include supply and demand for the Dollar; the political and economic situation in US and Nigeria and the value of the US dollar.
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