Today's USD to NGN Price Update

Rugman_Walking · 2026-02-03T00:00:31+00:00

This report analyzes the USD/NGN exchange rate, highlighting recent volatility, technical signals, and trading opportunities amid a strong downtrend, encouraging traders to monitor market dynamics closely.

Rugman_Walking

2026-02-03 00:00:31

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Summary

This report provides the real-time exchange rate between the U.S. Dollar (USD) and Nigerian Naira (NGN), helping traders quickly grasp market dynamics and identify potential trading opportunities.

Definition

The U.S. Dollar (USD) is one of the world’s most dominant fiat currencies, while the Nigerian Naira (NGN) is the official currency of Nigeria. The exchange rate between them reflects market sentiment regarding currency stability and foreign exchange demand dynamics in the Nigerian economy.

Today’s Price

1 USD = 1,387.78 NGN (as of February 3, 2026)
24h High: 1,396.27 NGN
24h Low: 1,389.82 NGN

Market Analysis

Recently, USD/NGN has exhibited a strong downtrend with mixed technical signals. The pair demonstrates significant volatility within the current trading range.

Technical levels: Key support at 1,415.00 NGN, resistance at 1,423.00 NGN
Technical indicator: The 14-day Relative Strength Index (RSI) stands at 42.248, suggesting bearish momentum
Risk note: The pair is experiencing a strong downtrend that may continue in the short term, presenting potential downside risks for USD strength
Trading opportunities: Monitor for potential reversals near established support levels; consider sell signals given current technical weakness

Conclusion

Continue to monitor the USD/NGN pair closely, integrating technical indicators and market sentiment. Traders should remain vigilant regarding the ongoing downtrend while watching for potential reversal opportunities at key support zones.

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