According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦428.00/$1 on Monday 22nd August and closed at ₦429.05 to $1.
BLACK MARKET RATE FOR AUGUST 22, 2023
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today Buying Rate 680 Selling Rate 710 Naija News reports that the US dollar to naira exchange rate changes hourly. The exchange rate fluctuates depending on the volume of dollars available and the demand for it. This means the exchange rate you buy and sell the dollar could be different hours later (high or low).