Naira Weakens Against Dollar On February 17, 2025

Today, Monday, February 17, 2025, the naira is exchanging for ₦1,575 to 1 US Dollar at the parallel market (black market) in Nigeria.

This means that for every one dollar, you can get the equivalent in naira of ₦1,575 on February 17, 2025.

The black market rate signifies the value at which individuals can trade their dollars for naira outside the official or regulated exchange channels.

Note that the Black Market Exchange rate is typically higher than the official exchange rate because it is not regulated by the government.

Today’s February 17 exchange shows that the naira has weakened slightly against the dollar, as it is worse compared to what it traded on Saturday, February 15, when the naira exchanged ₦1,545 to the $1.

The value of any nation’s currency is determined by aggregate supply and demand.

The forces of supply and demand are themselves influenced by a number of factors, including interest rates, inflation, capital flow, and money supply.

The most common method to value currency is through exchange rates. The two main exchange rate systems are fixed rate and floating rate systems.

Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics.

Send Us A Press Statement Advertise With Us Contact Us

 And For More Nigerian News Visit GWG.NG