Nigerian exchange rate policy has been changing since the introduction of the Naira as the official Nigerian currency. For instance, the U.S. Dollar to Naira exchange rate was N0.658 in 1972. Timeline of Dollar to Naira Exchange Rate from 1972 to 2023 Kindly note that the US to Naira black market exchange rate is completely different from the rate. In this post, we rely on the official rate (CBN rate) which has now metamorphosed into Importers’ and Exporters’ Window, following the FX unification. For simplicity, InfomediaNG divided the year under review into four as follows: 1. 1972 to 1983 2. 1984 to 1998 3. 1999 to 2015 and 4. 2015 to 2023 So, let’s get started! Dollar to Naira exchange rate between 1972 to 1983 From below you can see that one US dollar was N0.658 in Nigeria in 1972, that’s two years after the end of the Civil War. 1972: $1 = N0.658 1973: $1 = N0.658 1974: $1 = N0.63 1975: $1 = N0.616 1976: $1 = N0.62 1977: $1 = N0.647 1978: $1 = N0.606 ...
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