Nigeria currency

The Markets Insider Nigerian naira to United States dollar within seconds. Vacationers in Nigeria can make conversions at the current exchange rate. The currency calculator provides an ideal tool for investors investing in international stock exchanges with different currencies. Conversion from Nigerian naira to United States dollar can be done at current rates as well as at historical rates – to do this, select the desired exchange rate date. Today’s date is set by default. Additionally, the currency calculator shows the closing rate of the previous day as well as the highest and lowest rates of the conversion Nigerian naira - United States dollar. The results are displayed in a clearly arranged table. In addition to the Nigerian naira - United States dollar rate, the Markets Insider currency calculator also offers other exchange rates for about 160 international currencies. You have currently selected the base currency Nigerian naira and the target currency United States dollar with an amount of 1 Nigerian naira. In the menu, you can select the desired exchange rates of about 160 international currencies from the two lists. Additionally, the currency calculator allows you to calculate historical exchange rates in addition to the current rate. The results are displayed in a table with the closing rate of the previous day, the opening rate as well as the lowest and highest rates of the respective date.

ABUJA, June 14 (Reuters) - Nigeria's central bank allowed the naira currency to drop as much as 36% on the official market on Wednesday, days after President Bola Tinubu A web of multiple exchange rates under Godwin Emefiele had led to foreign currency shortages and made it difficult for investors to take out money from Africa's biggest economy. Traders said the central bank had removed trading restrictions on the official market, which drove the naira to a record low of 750 to the dollar on the official market, down from Tuesday's low of 477 naira to the dollar, Refinitiv Eikon data showed. This was the first time since 2016 that the naira had recorded a big fall on the official market before the central bank introduced a managed exchange rate in 2017. Charlie Robertson, head of macro strategy at FIM Partners, said: "A much needed devaluation which takes the currency from 50% overvalued to about 5-10% (cheaper). This should improve the current account and improve the long term investment climate." The central bank did not immediately comment. Tinubu inherited anaemic economic growth, record debt and shrinking oil output but he has promised to put the economy back on track and asked the public to support some painful decisions. Foreign investors had flagged the forex restrictions as one of the biggest impediments to investing in Nigeria, which is Africa's biggest oil producer. Unifying the exchange rate and "What we are seeing is the removal of distortions created by ineff...

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