The US dollar to Naira exchange rate has experienced a notable decrease today, July 8, 2024, with 1 USD now equaling ₦1520.813. This marks a drop from last week’s rate on Friday, July 5, 2024, when 1 USD was ₦1530.493.
The updated rates for other major currencies today, July 8, 2024 are as follows:
- 1 GBP = ₦1931.808 (up from ₦1917.426)
- 1 EUR = ₦1657.677 (up from ₦1653.734)
- 1 CAD = ₦1137.757 (up from ₦1105.327)
This shift indicates ongoing fluctuations in the foreign exchange market, influenced by various economic factors affecting Nigeria. The Central Bank of Nigeria (CBN) has been actively managing the foreign exchange market to stabilize the Naira amid these external pressures.
The impact of the new exchange rate will be felt across multiple sectors, including import and export businesses, likely resulting in adjustments to the prices of goods and services. Individuals and businesses are encouraged to monitor these rates closely to make informed financial decisions.
For those seeking real-time updates on the exchange rate, searching “today’s dollar exchange rate” on Google or visiting reliable financial news websites is recommended.
