Naira Steady Against Dollar Today February 18

Tuesday, February 18, 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 18, 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 18 exchange shows that the naira remains the same against the dollar, as it is neither worse nor improved compared to what it traded on Monday, February 17, when the naira exchanged ₦1,575 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.

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