table. This was a strategy employed by the regulatory body, the CBN to shore up the value of the Naira. Exported refined petroleum products will fetch the country a better and much improved foreign exchange rate.
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Further information on the performance of the Naira against major currency pairs can be found. CBN Official Exchange Rate of Dollar to Naira Today. The interest on the rate of 1 Dollar to Naira black market today is high. We spend more Naira than we earn in dollars. Convert South African Rand(ZAR) To United States Dollar(USD). Although there has recently been some stability in the value of the Naira against major currencies, especially the dollar, this has not always been so, as the exchange value of the naira against the dollar witnessed a dip from 2015 to its present exchange rate. The Dollar to Naira bank rate today is a sensitive issue mainly because Nigeria is a consumer based economy. Also, there is a harmful culture among Nigerians for preference of foreign goods and products over locally produced ones.
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