United States dollar nigerian naira history for February 2024. The highest quote for this month is 1630.16 (28/02/2024) and the lowest 1604.55 (23/02/2024). The difference between high and low is 1.57.
USD NGN average rate for February 2024 is 1469.80185, the change between 01/02/2024 and 29/02/2024 is -36.53 %.
| 01 February 2024 | 1 USD = 1194.00 NGN |
| 02 February 2024 | 1 USD = 1192.00 NGN |
| 03 February 2024 | 1 USD = 1413.12 NGN |
| 04 February 2024 | 1 USD = 1413.12 NGN |
| 05 February 2024 | 1 USD = 1192.00 NGN |
| 06 February 2024 | 1 USD = 1400.10 NGN |
| 07 February 2024 | 1 USD = 1407.50 NGN |
| 08 February 2024 | 1 USD = 1417.63 NGN |
| 09 February 2024 | 1 USD = 1403.51 NGN |
| 12 February 2024 | 1 USD = 1474.12 NGN |
| 13 February 2024 | 1 USD = 1503.00 NGN |
| 14 February 2024 | 1 USD = 1515.09 NGN |
| 15 February 2024 | 1 USD = 1516.00 NGN |
| 16 February 2024 | 1 USD = 1516.70 NGN |
| 17 February 2024 | 1 USD = 1492.73 NGN |
| 18 February 2024 | 1 USD = 1492.73 NGN |
| 19 February 2024 | 1 USD = 1493.23 NGN |
| 20 February 2024 | 1 USD = 1493.23 NGN |
| 21 February 2024 | 1 USD = 1605.80 NGN |
| 22 February 2024 | 1 USD = 1606.50 NGN |
| 23 February 2024 | 1 USD = 1606.50 NGN |
| 24 February 2024 | 1 USD = 1488.40 NGN |
| 25 February 2024 | 1 USD = 1488.40 NGN |
| 26 February 2024 | 1 USD = 1606.50 NGN |
| 27 February 2024 | 1 USD = 1544.00 NGN |
| 28 February 2024 | 1 USD = 1578.58 NGN |
| 29 February 2024 | 1 USD = 1630.16 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.