| Time series key
|
BBEX3.D.NGN.USD.CA.AB.000 |
| Unit
|
NGN |
| Dimension
|
one |
| Timespan
|
from
1995-02-28 to
2024-04-30 |
| Last update
|
07.05.2024 02:31:25 PM |
| |
|
| Source
|
Central Bank of Nigeria, Lagos / Abuja. |
| |
|
| Comment on
2023-06-15 |
On 14 June 2023, the exchange rates were adjusted more sharply. We recorded the following exchange rates (buying/selling): 9 June 2023: USD 1 = NGN 462.38 / 463.38 14 June 2023: USD 1 = NGN 631.77 / 632.77 Calculated devaluation: 26.8%. |
| Comment on
2016-06-30 |
On 20 June 2016, the naira was allowed to float freely. We recorded the following exchange rates (buying/selling): 17 June 2016: USD 1 = NGN 196 / 197 20 June 2016: USD 1 = NGN 279 / 280 Calculated devaluation: 29.7 % (on average). |
| Comment on
2015-02-27 |
The naira was devalued on 19 February 2015. We recorded the following exchange rates (buying / selling): 18 February 2015: USD 1 = NGN 167 / 168 19 February 2015: USD 1 = NGN 198 / 199 Calculated devaluation: 15.6 % (on average). |
| Comment on
1995-02-28 |
On 14 January 1995, the introduction of a legal free foreign exchange market was announced; however, the central bank only began to report exchange rates (buying/selling) on 23 February 1995: official exchange rate: USD 1 = NGN 21.7761 / 21.9960, free market rate: USD 1 = NGN 81.18 / 82.00. |
