Business

Dollar To Naira Exchange Rate Today 31st August 2021

Naira has fallen to an all-time low against dollar.

Truetells Nigeria gathered that Nigeria’s currency, Naira, extended its decline on Monday, August 30, sliding to an all-time low of N527 against the United States dollar at the parallel market otherwise known as the black market.

The Naira, which has been on a downward trend in recent weeks, fell to N524 against the greenback last Friday from 522/$1 the previous day (Thursday).

Dollar To Naira Exchange Rate Today 31st August 2021

 

 

On the other, the local currency, however, strengthened to N411.63/$1 on Monday from 412/$1 on Friday, at the Investors and Exporters’ window, according to data published on FMDQ Group, the official website where the naira is traded.

Recall that the Naira had strengthened to N506/$1 on August 4 after plunging to 525/$1 at the parallel market on July 28, a day after the Central Bank of Nigeria (CBN) stopped foreign exchange sales to Bureaux de Change.

Also, recall that Godwin Emefiele, the CBN Governor, had on July 27, at the end of the Monetary Policy Committee meeting, announced the stoppage of forex sale to the BDCs, saying they had turned themselves into ‘agents that facilitate graft and corrupt activities of people who seek illicit fund flow and money laundering in Nigeria.’

TruetellsNigeria

Recent Posts

Crusoe Osagie’s Misleading Statements About Edo Broadcasting Service (EBS) – By Sulaiman Aledeh

Crusoe Osagie I initially chose to remain silent in response to your recent statements, but…

5 hours ago

Over 20 Children Reportedly Killed In Stampede Over Xmas Gift At Ibadan Radio Station

Tragedy has struck in the city of Ibadan following a stampede that occurred at Agidigbo…

6 hours ago

TECNO’s Journey in 2024 Shaped by Innovation, Value, and Connection

As 2024 draws to a close, TECNO’s impact on the tech landscape is undeniable. This…

6 hours ago

President Tinubu ‘Declares’ Automatic Second Term For All Lawmakers (VIDEO)

There was drama at the national assembly  when President Bola Ahmed declared an automatic re-election…

6 hours ago

President Tinubu presents N47.9tn 2025 Budget proposal to the National Assembly

President Bola Tinubu is currently at the National Assembly a 2025 budget estimate of N47.9…

6 hours ago

How FG paid N199billion as electricity subsidy for Nigerians in December

The Nigerian Electricity Regulatory Commission (NERC) has stated that the government of Nigeria paid N199…

6 hours ago