As a result of the devaulation of the Naira by the Nigerian government, the Naira to dollar exchange rate has hit a new mark in the parallel market as at August 6th, 2020.

US Dollar closed at ₦486/US$1 in the parallel market.

The exchange rate between the naira and the US dollar on Thursday, August 6th 2020 closed at ₦486/US$1 in the parallel market.

Naira to dollar exchange rate

The exchange rate closed at ₦483/$1 on Wednesday 5th August 2020.

  • Naira: ₦486
  • Dollar: $1
  • Date: August 6th, 2020

The exchange rate between the naira and the British pound sterling closed at  ₦585/₤1 on Thursday 6th August as against ₦587/₤1 recorded on Wednesday 5th August 2020.

  • Naira: ₦585
  • Pounds Sterling: ₤1
  • Date: August 6th, 2020
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The exchange rate between the naira and the European euro closed at ₦550/€1 on Thursday 6th August 2020. The exchange rate closed at ₦545/€1 on Wednesday 5th August 2020.

  • Naira: ₦550
  • Euro: €1
  • Date: August 6th, 2020

Many Nigerians are concerned about the new dollar mark as many businesses and companies struggle to meet foreign target with the new exchange rate.

The new naira to dollar exchange rate has also caused a hike in commodities across the country.

 

The African Media News

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