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Dollar to Naira Today December 13, 2021

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December demand for the United States Dollar seems to have dragged on the value of the Nigerian Naira at the parallel market, popularly called the black market on Monday, December 13, 2021. The Naira declined against the United States Dollar on the back of rising demand for the US Dollar by importers and businesses struggling to meet the usual increase in demand for items during the Christman period.

Dollar to Naira Exchange Rate at Black Market

At the unregulated black markt, the Naira saw another fall as it went down to sit at N572 per dollar, inching closer to its all-time low of N575 per dollar recorded back in September 2021 when the Central Bank of Nigeria stopped selling dollars to the bureau de change operators.

Dollar to Naira Exchange Rate at Official Market Today

The Naira maintained its recent range, closing at N415.10 per dollar on Friday according to the Investors and Exporters window where the Naira is traded officially.

It took a decline of N0.03 from the N415.07 per dollar at which it closed on Thursday. The currency opened at N413.69 per dollar, but by the end of all the trading for the day the value of the Naira had gone down to sit at N415.10.

On Monday, December 13 2021, the Naira saw a slight fall in its value and opened at N414.05 per dollar which saw a decline of about N0.36 from Friday’s opening of N413.69 per dollar.

As had been touted since weeks back, the Naira seems to have finally found a resting place. Since about a month ago, the Naira started trading at N415 per dollar consistently and only ever witnessed marginal changes in the value, whether appreciation or depreciation.

The stability would however be welcomed, as it is better than the alternative of having the currency crash steadily.

The FMDQ published the Spot and Forward rates for Friday on its website, as it usually does. Friday’s trading saw all transactions on Friday involving the Naira and Dollar trade between a high of N404 per dollar and a low of N452 per dollar.

For the Forward rate, the currency traded at a high of N418 per dollar but fell up to N446 per dollar.

The rates were different from their usual values, as the usual low of N444 per dollar for the Spot rate went further down to N452 per dollar on Friday. For the Forward rate, its high was better than the N430 per dollar which it recorded on Thursday.

The daily turnover was also considerably lower than what was recorded on Thursday, sitting at $84.44 million. This was considerably lower than the $453 million which it saw on Thursday.

Bitcoin to Naira Exchange Rate

Cryptocurrency rebounded from Omicron caused decline recorded last. Bitcoin, the world’s most dominant cryptocurrency, is presently trading at N20,204,481 per coin, with a market cap of N381.86 trillion. Eth, the second most capitalised cryptocurrency gained 0.23 percent to N1.659 million per coin.

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Naira

Black Market Dollar to Naira Exchange Rate Today 18th June 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of June 18th, 2024 stood at 1 USD to ₦1,480.

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New Naira notes

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of June 18th, 2024 stood at 1 USD to ₦1,480.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,510 and sold it at ₦1,500 on Monday, June 17th, 2024.

This indicates an improvement in the Naira exchange rate value when compared to today’s rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.

How much is dollar to naira today in the black market

For those navigating the currency exchange landscape, here are the latest figures for the black market exchange rate:

  • Buying Rate: ₦1,480
  • Selling Rate: ₦1,470

As economic conditions continue to evolve, staying informed about currency exchange rates empowers individuals to make informed financial decisions. While the black market provides immediate insights, adherence to regulatory guidelines ensures stability and transparency in forex transactions.

Continue Reading

Naira

Black Market Dollar to Naira Exchange Rate Today 17th June 2024

Published

on

New Naira notes

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of June 17th, 2024 stood at 1 USD to ₦1,510.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,490 and sold it at ₦1,480 on Thursday, June 13th, 2024.

This indicates a decline in the Naira exchange rate value when compared to today’s rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.

How much is dollar to naira today in the black market

For those navigating the currency exchange landscape, here are the latest figures for the black market exchange rate:

  • Buying Rate: ₦1,510
  • Selling Rate: ₦1,500

As economic conditions continue to evolve, staying informed about currency exchange rates empowers individuals to make informed financial decisions. While the black market provides immediate insights, adherence to regulatory guidelines ensures stability and transparency in forex transactions.

Continue Reading

Naira

Black Market Dollar to Naira Exchange Rate Today 13th June 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of June 13th, 2024 stood at 1 USD to ₦1,490.

Published

on

NAIRA - Investors King

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of June 13th, 2024 stood at 1 USD to ₦1,490.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,480 and sold it at ₦1,470 on Wednesday, June 12th, 2024.

This indicates a slight decline in the Naira exchange rate value when compared to today’s rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.

How much is dollar to naira today in the black market

For those navigating the currency exchange landscape, here are the latest figures for the black market exchange rate:

  • Buying Rate: ₦1,490
  • Selling Rate: ₦1,480

As economic conditions continue to evolve, staying informed about currency exchange rates empowers individuals to make informed financial decisions. While the black market provides immediate insights, adherence to regulatory guidelines ensures stability and transparency in forex transactions.

Continue Reading
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