Naira Gains Strength Against Dollar – Thursday, February 27

Thursday, February 27, 2025, the naira is exchanging for ₦1,495 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 ₦1,495 on February 27, 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 as published in Nigerian news platforms is typically higher than the official exchange rate because it is not regulated by the government.

Today’s February 27 exchange shows that the naira has improved against the dollar, as it strengthened compared to what it traded on Wednesday, February 26, when the naira exchanged ₦1,498.

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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