DOLLAR EXCHANGE RATE IS NGN 980 TO USD 1

Babatunji Wusu –

The Naira is now valued between N980 and N1000 to $1 in Lagos, Port Harcourt, Abuja, and Kano as a result of Nigeria’s currency rate’s continued free float.

When this report was filed on Thursday, the dollar was trading for N1000 in Lagos, where prices are higher. The exchange rate between the dollar and the Naira is N980 to $1 in Abuja and N965 to $1 in Port Harcourt.

The official exchange rate for the dollar is N768.5 to $1.

Despite the government’s pledge to drive down the price of the dollar to boost the value of the naira, a market analysis conducted by our correspondent on Thursday revealed that the dollar is strengthening against the local currency on the underground or black market.

According to a currency trader in Abuja’s Wuse Zone 4 neighborhood named Mallam Abu, the price of the dollar is anticipated to rise over its current level in the coming days.

He claimed that because there is currently less demand for the hard currency, the price is essentially staying at N980.