United States dollar nigerian naira history for August 2023. The highest quote for this month is 786.61 (07/08/2023) and the lowest 770.99 (28/08/2023). The difference between high and low is 1.99.
USD NGN average rate for August 2023 is 764.52583, the change between 01/08/2023 and 31/08/2023 is -1.44 %.
| 01 August 2023 | 1 USD = 759.9 NGN |
| 04 August 2023 | 1 USD = 777.5 NGN |
| 07 August 2023 | 1 USD = 765.1 NGN |
| 08 August 2023 | 1 USD = 750.6 NGN |
| 10 August 2023 | 1 USD = 768.8 NGN |
| 12 August 2023 | 1 USD = 767.8 NGN |
| 14 August 2023 | 1 USD = 771.7 NGN |
| 15 August 2023 | 1 USD = 765.9 NGN |
| 17 August 2023 | 1 USD = 785.4 NGN |
| 20 August 2023 | 1 USD = 744.9 NGN |
| 21 August 2023 | 1 USD = 745.9 NGN |
| 28 August 2023 | 1 USD = 770.8 NGN |
20/03/2020: Impact of COVID-19 Pandemic
The outbreak of the COVID-19 pandemic resulted in a significant decline in oil prices, affecting Nigeria's economy and putting pressure on the Naira's exchange rate.
20/06/2016: Adoption of Flexible Exchange Rate Policy
The Central Bank of Nigeria adopted a flexible exchange rate policy, allowing the Naira to float freely against other currencies based on market forces.
29/05/1999: Transition to Democratic Governance
Nigeria transitioned to democratic governance, leading to economic reforms and stability, positively affecting the value and management of the Naira currency.
12/06/1993: Introduction of the Third Nigerian Naira
The third Nigerian Naira (NGN) was introduced after the country's return to civilian rule following years of military regimes.
31/12/1984: Implementation of the Structural Adjustment Program
The Nigerian government implemented the Structural Adjustment Program, leading to a significant devaluation of the Naira and the adoption of a floating exchange rate.
01/07/1979: Adoption of the Second Nigerian Naira
The second Nigerian Naira (NGN) was introduced following the adoption of a new constitution and the country's transition to civilian rule.
01/07/1973: Introduction of decimal currency
The Nigerian Naira was introduced as the official currency of Nigeria, replacing the pound sterling with a decimal currency system.