Naira

Dollar to Naira Today December 22, 2021

Published

2 years ago

December 22, 2021

Dollar to Naira exchange rate today Wednesday December 22, 2021 at the black market and official trading channel remained largely unchanged despite the expected Christmas rush. According to Investors King, Dollar scarcity amid Nigeria’s growing economic uncertainty are some of the factors weighing on the Nigerian Naira against its global counterparts. All efforts by the Central Bank of Nigeria to arrest the situation are yet to crystalise.

Dollar to Naira at Black Market

Naira exchange rate to United States Dollar at the parallel market, known as the black market, stood at N565 on Wednesday, representin an improvement of N565 to a United States Dollar. Forex buyers continue to patronise the black market for their forex needs despite CBN warnings to discourage people from embracing quotes determined by speculators.

The central bank had attributed all the challenges confronting the Nigerian Naira to the activities of speculators and hoarders at the unregulated black market.

Dollar to Naira Official Market Today

Dollar to naira exchange rate closed lower on Tuesday at the official forex market managed by the FMDQ. On Wednesday December 22, 2022, Dollar to Naira exchange rate opened the day at N414.11, an improvement from Tuesday’s close.

Even though the Naira is officially traded at N414 to a United States Dollar, majority of Nigerian can not access the greenback at that rate. Partly due to dollar scarcity and the inability of the central bank to meet Nigeria’s growing demand for imported goods.

Weak local manufacturing sector and low crude oil production are some of the challenges hurting Nigeria’s ability to improve foreign revenue and effectively service its growing demand for the United States Dollar.

Bitcoin to Naira Exchange Rate

Bitcoin gained 1.44 percent in the last 24 hours to trade at N20.234 million a coin. Coindesk attributed the increase bitcoin price to Asian pump. Ethe, owned by Ethereum also increased by 0.94 percent to N1.664 million.

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Samed Olukoya

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

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Naira

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

Published

15 hours ago

June 17, 2024

Samed Olukoya

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.

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

4 days ago

June 13, 2024

Samed Olukoya

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

Naira

Black Market Dollar to Naira Exchange Rate Today 12th June 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of June 12th, 2024 stood at 1 USD to ₦1,480.

Published

5 days ago

June 12, 2024

Samed Olukoya

Naira to Dollar Exchange- Investors King Rate - Investors King

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of June 12th, 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 ₦1,500 and sold it at ₦1,490 on Thursday, June 6th, 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.