Key points:
Official CBN Rate: N1528 / USD
Black-Market Rate: N2,000 / USD
Drivers: IMF support for CBN policies, Naira card transactions, global market fluctuations
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Top Tools: Naira Live Rates, Currency Converter, Black-Market Snapshots
The Naira is nearing the N1,500/$ threshold, trading at N1528 in the official market, influenced by recent banking reforms, including the resumption of Naira card transactions for international payments.
This is bolstered by the IMF’s backing for Nigeria’s monetary tightening. Meanwhile, the black-market rate has surged to N2,000/$ due to the global economic uncertainty and ongoing trade negotiations.…Read Original&Full. CQntent Here.
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