Connect with us

Naira

Naira Slides to N422 Against the US Dollar at I&E Fx Window

Published

on

Naira Exchange Rates - Investors King

The Nigerian Naira witnessed a 0.54 percent decline against the dollar at the official Investors and Exporters (I&E) forex window on Thursday as it traded at N422.50/$1.

Naira had maintained a flat rate with the dollar since the beginning of the week, commencing at N420.25 to US$1 on Monday while a slight decline occurred on Tuesday to N420.75 against the Dollar.

On the other hand, Naira gained back on Wednesday as it was traded at N420.25 against the US Dollar – this was an appreciation of 0.12 percent but declined on Thursday with an N420.26 opening and N422.50 closing. Thus, witnessing a 0.54 percent slide.

Meanwhile, at the Central Bank of Nigeria (CBN) official forex segment, the US Dollar maintained a flat rate as it was sold at N415.63 to commercial banks. This was an absolute constant for the week. Even at this rate, Investors King revealed that Nigerians could not get forex at the CBN’s set rate in any of the banks.

As a matter of fact, the black market has enjoyed this benefit as more investors patronize it,  leading to a constant rise in the value of the American dollar this week. The United States Dollar appreciated against the Naira on the black market this week as scarcity persisted. The Nigerian Naira plunged from N600 to N610 against the Dollar, representing a decline of N10.

Cryptocurrency Exchange Rate

Having kickstarted the week with high hopes, the digital currencies recorded another crash!

The Bitcoin exchange rate fell to $30,079.80, a decline of 0.27%. Although, in the early hours of Thursday morning, the industry’s market capitalization increased by 0.39 percent to $1.222 trillion, while bitcoin increased by 0.47 percent to $30,328.73.

Ethereum like its counterpart witnessed a decline in value. As of Tuesday, ETH recorded an improvement of 2.38% to close N1,081,309 to a coin, while today it recorded a 0.66 percent decline to be sold at $1,788 per coin which is N742,484.91, using the official forex rate.

Binance (BNB), however, maintained a balanced rate with a price of  $288.92, a change of 0.00% over the past 24 hours.

Continue Reading
Comments

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.

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 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
Advertisement




Advertisement
Advertisement
Advertisement

Trending