United States dollar nigerian naira history for March 2024. The highest quote for this month is 1625.37 (11/03/2024) and the lowest 1624.23 (12/03/2024). The difference between high and low is 0.07.
USD NGN average rate for March 2024 is 1580.377, the change between 01/03/2024 and 31/03/2024 is -0.44 %.
| 01 March 2024 | 1 USD = 1617.05 NGN |
| 03 March 2024 | 1 USD = 1543.58 NGN |
| 04 March 2024 | 1 USD = 1577.56 NGN |
| 05 March 2024 | 1 USD = 1511.99 NGN |
| 06 March 2024 | 1 USD = 1560.51 NGN |
| 07 March 2024 | 1 USD = 1590.67 NGN |
| 08 March 2024 | 1 USD = 1591.00 NGN |
| 10 March 2024 | 1 USD = 1593.34 NGN |
| 11 March 2024 | 1 USD = 1593.84 NGN |
| 12 March 2024 | 1 USD = 1624.23 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.