Forex Volatility – USD-Naira Exchange Rate Fluctuates Between ₦739.01 and ₦808,427.75

According to the latest information received by TDPel Media, the exchange rate for the Nigeria dollar on Binance stands at an alarming 1 USD to N1,600.

This significant rate has prompted a closer examination of the value of the US Dollar against the Nigerian Naira in recent times.

Historical Comparison:

As of October 9, 2023, the exchange rate was recorded at 771.732, indicating that $1,025 would be equivalent to ₦791,023.25.

However, considering the 30-day high and low exchange rates, the value of $1,025 fluctuates between ₦757,485.25 and ₦808,427.75.

This substantial variance of ₦50,942.5 over the last 30 days highlights the instability in the exchange market.

Weekly Analysis:

Zooming into the weekly dynamics, the highest exchange rate within the past 7 days values $1,025 at ₦791,023.25, while the weekly low sets it at ₦781,162.75.

This weekly fluctuation accounts for ₦9,860.5, underlining the shorter-term volatility in the exchange rates.

Real-time Conversion:

For a more immediate perspective, the current conversion of 1025 US Dollars to Nigerian Naira stands at 776,867.30 NGN, with an exchange rate of 757.9193 as of October 11, 2023.

This real-time calculation provides insight into the present value of the US Dollar in the Nigerian Naira.

Additional Tools for Convenience:

To facilitate easy tracking of currency exchange rates, online tools such as the history chart and table of popular currency pairs, including USD to NGN, are available.

The convenience of utilizing currency converter widgets or exchange rate widgets for websites is also highlighted for those who prefer not to visit the site regularly.

Conclusion:

The presented information sheds light on the significant fluctuations in the exchange rate between the US Dollar and the Nigerian Naira.

The market’s susceptibility to variations in the past month and week underscores the need for individuals and businesses to stay vigilant in monitoring currency values.

As the rates continue to evolve, the tools provided offer users the means to stay informed and make timely financial decisions.

Business News

TDPel Media

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