Naira

Naira to Dollar Exchange Rate Drops to N742/US$1 Today October 14, 2022

The Nigerian Naira continues to depreciate against the United States Dollar in the black market on Thursday amid economic uncertainty and persistent forex scarcity.

Published

2 years ago

October 14, 2022

Investors King

The Nigerian Naira continues to depreciate against the United States Dollar in the black market on Thursday amid economic uncertainty and persistent forex scarcity.

Naira traded at N742 to a United States Dollar, a decline of N2 from the N740 it traded on Wednesday.

At the Investors and Exporters’s foreign exchange window, the Naira exchange rate is at its lowest, Naira declined from N439.70 it opened the day against the United States Dollar on Thursday to close at N441.83.

This is the first time the local currency will trade that low against the United States Dollar at the FMDQ Foreign Exchange window

Currency trades at the Investors and Exporters foreign exchange window transacted $64.80 million in value during the trading session on Thursday. This is a huge decline from the $95.39 million transactions it made in the previous trading session.

Meanwhile, at the interbank section managed by the Central Bank of Nigeria (CBN), the Naira depreciated from N435.7 it exchanged against the United States Dollar yesterday to N436.06 on Thursday.

Similarly, the Naira to Pounds Sterling exchange rate stood at N491.3524 a decline from N481.7535 it traded on Wednesday.

However, against the Euro common currency, the Naira exchange rate improved slightly from N423.0211 it exchanged on Wednesday to N424.896 on Thursday.

Crude Oil
Brent crude oil, the benchmark against which Nigerian oil is priced, shed 0.57% to $94.03 per barrel at 11:04 pm Nigerian time. While the U.S. West Texas Intermediate oil lost 0.66% to $88.52 a barrel.

Cryptocurrency

Thursday is apparently a good trading day for crypto traders as most coins like Bitcoin, Ethereum, Cardano (ADA), and Binance coins appreciated.

Bitcoin (BTC), the most capitalized cryptocurrency rebounded above $19,000 on Thursday, it improved by 3.47% in the last 24 hours to $19,645.51 a coin.

Ethereum (Eth), appreciated by 4.16% in the last 24 hours to $1,326.59 a coin. While, Binance coin (BNB) and Cardono (ADA) also appreciated by 3.68% to $274.88 per coin and 5.49% to $0.381500 per coin respectively.

Up Next

Naira to Dollar Exchange Rate Dips to N745/US$1 Today October 17, 2022

Don't Miss

Naira Drops Further, Exchanges at N740/US$1 Against the U.S. Dollar

Investors King

Comments

Naira

Dollar to Naira Black Market Today, April 30th, 2024

As of April 30th, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1,340 NGN in the black market, also referred to as the parallel market or Aboki fx.

Published

2 days ago

April 30, 2024

Samed Olukoya

As of April 30th, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1,340 NGN in the black market, also referred to as the parallel market or Aboki fx.

For those engaging in currency transactions in the Lagos Parallel Market (Black Market), buyers purchase a dollar for N1,310 and sell it at N1,300 on Monday, April 29th, 2024 based on information from Bureau De Change (BDC).

Meaning, the Naira exchange rate declined when compared to today’s rate below.

This black market rate signifies the value at which individuals can trade their dollars for Naira outside the official or regulated exchange channels.

Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics.

How Much is Dollar to Naira Today in the Black Market?

Kindly be aware that the Central Bank of Nigeria (CBN) does not acknowledge the existence of the parallel market, commonly referred to as the black market.

The CBN has advised individuals seeking to participate in Forex transactions to utilize official banking channels.

Black Market Dollar to Naira Exchange Rate

Buying Rate: N1,340
Selling Rate: N1,330

Naira

Dollar to Naira Black Market Today, April 25th, 2024

As of April 25th, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1,300 NGN in the black market, also referred to as the parallel market or Aboki fx.

Published

7 days ago

April 25, 2024

Samed Olukoya

Naira to Dollar Exchange- Investors King Rate - Investors King

As of April 25th, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1,300 NGN in the black market, also referred to as the parallel market or Aboki fx.

For those engaging in currency transactions in the Lagos Parallel Market (Black Market), buyers purchase a dollar for N1,260 and sell it at N1,250 on Wednesday, April 24th, 2024 based on information from Bureau De Change (BDC).

Meaning, the Naira exchange rate declined when compared to today’s rate below.

This black market rate signifies the value at which individuals can trade their dollars for Naira outside the official or regulated exchange channels.

Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics.

How Much is Dollar to Naira Today in the Black Market?

Kindly be aware that the Central Bank of Nigeria (CBN) does not acknowledge the existence of the parallel market, commonly referred to as the black market.

The CBN has advised individuals seeking to participate in Forex transactions to utilize official banking channels.

Black Market Dollar to Naira Exchange Rate

Buying Rate: N1,300
Selling Rate: N1,290

Naira

Dollar to Naira Black Market Today, April 24th, 2024

As of April 24th, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1,260 NGN in the black market, also referred to as the parallel market or Aboki fx.

Published

1 week ago

April 24, 2024

Samed Olukoya

As of April 24th, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1,260 NGN in the black market, also referred to as the parallel market or Aboki fx.

For those engaging in currency transactions in the Lagos Parallel Market (Black Market), buyers purchase a dollar for N1,250 and sell it at N1,240 on Tuesday, April 23rd, 2024 based on information from Bureau De Change (BDC).

Meaning, the Naira exchange rate declined slightly when compared to today’s rate below.

This black market rate signifies the value at which individuals can trade their dollars for Naira outside the official or regulated exchange channels.

Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics.

How Much is Dollar to Naira Today in the Black Market?

Kindly be aware that the Central Bank of Nigeria (CBN) does not acknowledge the existence of the parallel market, commonly referred to as the black market.

The CBN has advised individuals seeking to participate in Forex transactions to utilize official banking channels.