The Naira to US dollar, has been currently pegged at an official exchange rate of $1 to N305.5.
Although most Nigerians prefer to transact their foreign exchange business on the black market, transactions are still guided and regulated by the Central Bank of Nigeria.
Currently, the rates are fluctuating between N360 to $1 for those buying and N362 to $1 for those selling, Naija News understands.
For the British Pound, the rates, though officially fixed at N427.5, exchanges for N498 to £1 for those buying and N505 to £1 for those selling.
Also, the Euro exchanges at N438 to €1 for those buying, and N445 to 1€ for those selling, though it has an official rate of N373.2.