Value Of Naira Falls Again As Forex Scarcity Worsens Now 1 USD To 487 NGN
The
value of the Nigerian Naira continues to fall in the foreign exchange
market as dollar scarcity continues in the country. The recent fall in
the value of the naira has taken the Dollar to Naira exchange rate in
the black market today Saturday 17th December to 1 US Dollar to 487
Naira.Dollar scarcity in Nigeria worsened ahead of the festive season and experts are predicting that this might lead to further drop in the value of the Naira in coming days, some have predicted the Naira to be exchanged for a dollar at about N500 before the end of the year.
The Nigerian currency exchanged at N487 to a US Dollar as at this morning, this was though a rise of 2 Naira from the N485 to $1 which it had maintained for close to two weeks. The Pound Sterling was exchanged for N605 while the Euro closed 1 EUR to N510.
Though the Naira remained stable at the inter-bank market, trading at N305 to 1 US Dollar. Traders said that the demand for dollars was putting pressure on the Naira. And while some blamed the recent crackdown on Bureau De Change (BDC) operators by the DSS as a reason for Dollar scarcity in the country. The crackdown led to many Bureau De Change (BDC) operators going underground. Below are the updated dollar to naira exchange rate for today Saturday December 17 2016.
1 USD To NGN : US Dollar To Naira Exchange Rate Today
• Official CBN Rate Of The US Dollar To Naira
-1.00 USD = 315.46 NGN
• Black Market Rate Of The US Dollar To Naira Today
-1.00 USD = 487 NGN
• GTBank Rate Of The US Dollar To Naira Today
-1.00 USD = 320 NGN
• Access Bank Rate Of The US Dollar To Naira Today
-1.00 USD = 324 NGN
• Standard Chartered Bank Rate Of The US Dollar To Naira Today
-1.00 USD = 320 NGN
• Skye Bank Rate Of The US Dollar To Naira Today
-1.00 USD = 350 NGN
• FirstBank Rate Of The US Dollar To Naira Today
-1.00 USD = 371 NGN
• Stanbic Ibtc Bank Rate Of The US Dollar To Naira Today
-1.00 USD = 450 NGN
• UBA Rate Of The US Dollar To Naira Today
-1.00 USD = 315 NGN
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