Naira To Dollar Exchange Rate For Today, 10th May
The decision of the Central Bank of Nigeria, (CBN), to further injecte another $210m into the nation’s foreign exchange market, seems to be yielding desired result as Naira strenghtens against major international currencies.
A survey by Naija News reveals the Naira to US dollar, is currently pegged at an official exchange rate of $1 to N305.25.
However, on the black market, which seems like where most Nigerians take care of their forex needs, the rates are fluctuating between N360 to $1 for those buying and N364 to $1 for those selling, Naija News understands.
For the British Pound, the rates, though officially fixed at N414.86, exchanges for N495 to £1 for those buying and N505 to £1 for those selling.
Also, the Euro exchanges at N428 to €1 for those buying, and N438 to 1€ for those selling, though it has an official rate of N362.7.
The decision by President Donald Trump to pull out of the Iran nuclear deal has also increased oil prices, thereby further strengthening the Nigerian Naira.