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Daily Naira Exchange Rates; Monday December 28, 2020

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Naira - Investors King

Daily Naira Black Market Exchange Rates

Morning * Midday** Evening ***

Date USD GBP EURO YUAN Canadian Australian
NGN BUY/SELL BUY/SELL BUY/SELL BUY/SELL BUY/SELL BUY/SELL
28/12/2020 460/465 615/625 560/570 60/70 350/367 245/293
25/12/2020 460/465 615/625 560/570 60/70 350/367 245/293
24/12/2020 460/465 615/625 560/570 60/70 350/367 245/293
23/12/2020 470/475 622/632 575/580 60/70 350/367 245/293
22/12/2020 472/476 622/630 570/578 60/70 340/362 250/295
21/12/2020 472/476 622/632 570/580 55/68 340/362 250/295
18/12/2020 472/477 622/630 570/577 55/68 340/362 250/295
17/12/2020 472/478 623/633 570/577 55/68 340/362 250/295
16/12/2020 472/476 620/627 570/576 55/68 340/362 250/295

Bureau De Exchange Naira Rates

Date USD GBP EURO
NGN BUY/SELL BUY/SELL BUY/SELL
28/12/2020 455/475 605/628 555/573
25/12/2020 455/475 600/628 550/575
24/12/2020 455/474 600/628 555/575
23/12/2020 460/475 621/632 568/580
22/12/2020 470/475 620/631 568/577
21/12/2020 470/475 620/631 568/577
18/12/2020 460/475 620/630 568/577
17/12/2020 460/475 618/633 565/580
16/12/2020 460/480 618/633 565/580

Central Bank Official Naira Rates

Date Currency Buying(NGN) Central(NGN) Selling(NGN)
12/24/2020 US DOLLAR 379 379.5 380
12/24/2020 POUNDS STERLING 514.9852 515.6646 516.344
12/24/2020 EURO 462.1526 462.7623 463.372
12/24/2020 SWISS FRANC 426.3697 426.9322 427.4947
12/24/2020 YEN 3.6551 3.6599 3.6648
12/24/2020 CFA 0.6881 0.6981 0.7081
12/24/2020 WAUA 545.8027 546.5227 547.2428
12/24/2020 YUAN/RENMINBI 58.0211 58.0981 58.1751
12/24/2020 RIYAL 100.9993 101.1326 101.2658
12/24/2020 SOUTH AFRICAN RAND 25.8615 25.8956 25.9297

 

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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Black Market Rate

Dollar To Naira Black Market Exchange Rate For Today 14th January 2023

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New Naira notes

You can access the black market Dollar to Naira exchange rate for today, 14th January on Investors King.

This online 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.

How Much Is Dollar To Naira Exchange Rate Today?

Dollar to naira exchange rate today black market (Aboki dollar rate):

Investors King understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N742 and sell at N745 as of the time of filing this report.

Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 742
Selling Rate 745

The local currency (abokiFx) opened at N745.00 per $1 at the parallel market otherwise known as the black market, today, Saturday, 14th January 2023, in Lagos Nigeria, after it closed at N742.00 per $1 on Friday, 13th January 2023.

 

Factors Influencing Foreign Exchange Rates

 

Here are some of the causes of the dwindling dollar to naira exchange rate.

Inflation Rates: It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is controlled, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.

Interest Rates: Another tool to keep an eye on is interest rates. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall.

Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. If inflows are high, the naira exchange rate will rise in favour of the naira.

Speculators: Speculators frequently impact the naira-to-dollar exchange rate. They stockpile money in anticipation of a gain, causing the naira to plummet even lower.

Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. Everything comes from China, India, and the majority of Asian countries.

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CBN Exchange Rate

Dollar To Naira Black Market Exchange Rate For Today 12th January 2023

Published

on

New Naira Notes

You can access the black market Dollar to Naira exchange rate for today, 12th January on Investors King.

This online 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.

How Much Is Dollar To Naira Exchange Rate Today?

Dollar to naira exchange rate today black market (Aboki dollar rate):

Investors King understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N742 and sell at N745 as of the time of filing this report.

Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 742
Selling Rate 745

The local currency (abokiFx) opened at N745.00 per $1 at the parallel market otherwise known as the black market, today, Thursday, 12th January 2023, in Lagos Nigeria, after it closed at N745.00 per $1 on Tuesday, 11th January 2023.

 

Factors Influencing Foreign Exchange Rates

 

Here are some of the causes of the dwindling dollar to naira exchange rate.

Inflation Rates: It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is controlled, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.

Interest Rates: Another tool to keep an eye on is interest rates. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall.

Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. If inflows are high, the naira exchange rate will rise in favour of the naira.

Speculators: Speculators frequently impact the naira-to-dollar exchange rate. They stockpile money in anticipation of a gain, causing the naira to plummet even lower.

Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. Everything comes from China, India, and the majority of Asian countries.

Continue Reading
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