Forex

Dollar Weakens as North Korea Jitters Outweigh Debt-Ceiling Deal

Published

7 years ago

September 7, 2017

Dollar Weakens as North Korea Jitters Outweigh Debt-Ceiling Deal

The dollar fell against most of its Group-of-10 peers as tensions surrounding North Korea outweighed positive sentiment arising from an extension of the U.S. debt limit.

The Bloomberg Dollar Spot Index headed for a sixth day of losses amid speculation North Korea will conduct a missile launch this weekend to mark its foundation day. The yen rose as South Korea’s premier said there isn’t much time until the North is fully nuclear armed. Australia’s dollar fell as retail sales and trade balance data missed economists’ forecasts.

“If the threat remains and markets remain nervous about North Korea, then dollar-yen will remain under downward pressure,” said Imre Speizer, a markets strategist at Westpac Banking Corp. in Auckland. “There was a temporary reprieve for the dollar via the debt and funding agreement, but December is near enough for the market to continue pricing in some chance of disagreement.”

The yen hit a session high in reaction to South Korea’s Prime Minister Lee Nak-yon stating the North may launch a missile on Sept. 9. Residual orders from North-American accounts saw the gain curtailed as did fund-related flows over the Tokyo fix, according to an Asia-based currency trader not authorized to speak to the media.

BBDXY drops 0.1% after falling 0.8% over previous 5 days
USD/JPY weakens 0.1% to 109.11 after declining as much as 0.3%
- Non-residents’ purchases of Japanese bonds climbed almost threefold to a net 1.3592t yen in week ended Sept. 1
U.S. Treasury yields lower across curve, with benchmark 10-year yield dropping 1bp to 2.09%
USD trimmed declines Wednesday when President Trump and Democrats agreed to a three-month extension of the U.S. debt limit
EUR/USD rises 0.1% to 1.1929 versus 1.1916/35 range
- ECB’s Draghi will speak after policy meeting in Frankfurt
- “We expect Draghi to strike a cautious balance between giving the first clear hints at the upcoming tapering and dovish sounds to rein in FX markets,” Rob Carnell, head of research and chief economist for Asia at ING in Singapore, writes in note
Aussie dips back under 0.80 after July retail sales and trade balance miss estimates
AUD/USD falls 0.1% to 0.7991 after reaching 0.7985
- AUD/USD FX options for A$625m at strike price of 0.8025 expire Thursday
- Thursday’s data-driven dip in currency shouldn’t extend that much against the kiwi, according to Peter Dragicevich, FX strategist at Nomura

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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

Dollar to Naira Black Market Exchange Rate Today 4th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 4th, 2024 stood at 1 USD to ₦1,400.

Published

1 day ago

May 4, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 4th, 2024 stood at 1 USD to ₦1,400.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,380 and sold it at ₦1,370 on Friday, May 3rd, 2024.

This indicates a decline in the Naira exchange rate compared to the current 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 black market

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

Buying Rate: ₦1,400
Selling Rate: ₦1,390

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 Rate Reaches ₦1,380 Today, May 3rd, 2024

US dollar to Nigerian Naira exchange rate as of May 3rd, 2024 at the black market stood at 1 USD to ₦1,380

Published

3 days ago

May 3, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 3rd, 2024 stood at 1 USD to ₦1,380.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,350 and sold it at ₦1,340 on Thursday, May 2nd, 2024.

This indicates a decline in the Naira exchange rate compared to the current 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 black market

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

Buying Rate: ₦1,380
Selling Rate: ₦1,370

Naira

Dollar to Naira Black Market Today, May 2nd, 2024

As of May 2nd, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1,350 NGN in the black market, also referred to as the parallel market or Aboki fx.

Published

3 days ago

May 2, 2024

Samed Olukoya

As of May 2nd, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1,350 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.