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Forex

Naira Trades at N465 Against the United States Dollar at the Black Market

Published

2 years ago

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Naira - Investors King

The Nigerian Naira remained under pressure against global currencies across key foreign exchange markets.

The Naira dipped slightly against the United States Dollar by N1 from N464 it exchanged on Monday to N465 on Tuesday.

This decline continues against the Chinese Yuan as it exchanged at N60 to a Yuan at the black market on Tuesday.

Similarly, it remained pressure against the Euro common currency at N543, the rate it plunged to on Monday from N540 it traded on Friday.

As expected, the local currency was exchanged at N596 to a British Pound, down from the N595 it traded on Monday.

On the Investors and Exporters’ forex window, the Naira traded N385.67 against the United States dollar. Investors traded $140.95 million on the I&E fx window on Tuesday.

The Central Bank of Nigeria’s exchange rate to a United States Dollar remains N379/US$.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Forex

Dollar to Naira Exchange Rate Today March 31, 2023

Published

2 days ago

on

March 31, 2023

By

Naira Dollar Exchange Rate - Investors King

As of March 31, 2023, the dollar to naira exchange rate is 1 USD to 745 NGN at the black market. This means that for every one US dollar, you can exchange it for ₦745, Investors King reports.

This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. However, you can buy and sell 1 USD at ₦745 and ₦741 as of the time of writing today.

What is the current exchange rate of the dollar to naira in the black market today?

According to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for N745 and sold for N741.

Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 741
Selling Rate 745

Investors King understands that although the dollar to naira opened at N745 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.

On Friday, March 31st, 2023, individuals in the black market purchased one US dollar for N741 and sold it for N745. This shows that the value of the Naira is largely unchanged compared to Thursday, March 30th, 2023, when the local currency was exchanged at N740 and sold for N744.

To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Here are some tips for staying up-to-date:

  • Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
  • Follow financial news outlets: Financial news outlets such as Investors King, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
  • Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
  • Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.

By staying informed about the dollar to naira exchange rate, you can make informed decisions when buying or selling foreign currencies. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. Keep these tips in mind and stay informed about the latest trends in the global currency markets.

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Black Market Rate

Dollar to Naira Exchange Rate Today March 30, 2023

Published

3 days ago

on

March 30, 2023

By

Naira - Investors King

As of March 30, 2023, the dollar to naira exchange rate is 1 USD to 744 NGN at the black market. This means that for every one US dollar, you can exchange it for ₦744, Investors King reports.

This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. However, you can buy and sell 1 USD at ₦744 and ₦740 as of the time of writing today.

What is the current exchange rate of the dollar to naira in the black market today?

According to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for N744 and sold for N740.

Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 740
Selling Rate 744

Investors King understands that although the dollar to naira opened at N744 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.

On Thursday, March 30th, 2023, individuals in the black market purchased one US dollar for N740 and sold it for N744. This shows that the value of the Naira is largely unchanged compared to Wednesday, March 29th, 2023, when the local currency was exchanged at N738 and sold for N744.

To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Here are some tips for staying up-to-date:

  • Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
  • Follow financial news outlets: Financial news outlets such as Investors King, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
  • Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
  • Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.

By staying informed about the dollar to naira exchange rate, you can make informed decisions when buying or selling foreign currencies. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. Keep these tips in mind and stay informed about the latest trends in the global currency markets.

Continue Reading

Black Market Rate

Dollar to Naira Exchange Rate Today March 29, 2023

Published

4 days ago

on

March 29, 2023

By

Naira Exchange Rates - Investors King

As of March 29, 2023, the dollar to naira exchange rate is 1 USD to 744 NGN at the black market. This means that for every one US dollar, you can exchange it for ₦744, Investors King reports.

This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. However, you can buy and sell 1 USD at ₦744 and ₦738 as of the time of writing today.

What is the current exchange rate of the dollar to naira in the black market today?

According to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for N744 and sold for N738.

Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 738
Selling Rate 744

Investors King understands that although the dollar to naira opened at N744 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.

On Wednesday, March 29th, 2023, individuals in the black market purchased one US dollar for N738 and sold it for N744. This shows that the value of the Naira has improved slightly compared to Tuesday, March 28th, 2023, when the local currency was exchanged at N739 and sold for N745.

To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Here are some tips for staying up-to-date:

  • Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
  • Follow financial news outlets: Financial news outlets such as Investors King, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
  • Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
  • Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.

By staying informed about the dollar to naira exchange rate, you can make informed decisions when buying or selling foreign currencies. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. Keep these tips in mind and stay informed about the latest trends in the global currency markets.

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