Naira

Dollar to Naira Today December 20, 2021

Published

2 years ago

December 20, 2021

Christmas is only a few days away, and that naturally means that people will start to flock the markets to buy items (both edible and inedible) for the festivities. The rate of dollar to naira as of today December 20, 2021 has undoubtedly affected the prices of goods and services, especially imported goods. Therefore, high prices may impact Christmas celebrations across the country.

Dollar to Naira at Black Market

At the parallel market, also referred to as the black market, the exchange rate of dollar to naira sits between N568 per dollar to N570 per dollar on Monday, December 20, 2021. It should however be recalled that the Central Bank of Nigeria does not reckon with the parallel market as an official exchange rate source.

Dollar to Naira Exchange Rate at Official Market

According to the Investors and Exporters Window where the Naira is traded officially, the currency maintained its range to close at N415.07 per dollar on Friday. This was very close to the N415.05 per dollar rate at which it closed on Thursday, which is why it is said to be in the same range.

On Monday, December 20 2021, the Naira opened at N413.84 per dollar at the Investors & Exporters window. This is basically the same with the N413.83 per dollar which it had as its opening on Thursday.

The FMDQ group’s updates of the Spot and Forward rates saw a stability in the Spot rate but a change in the Forward rate, as has been the trend for a number of days now.

The Spot rate traded as high as N405 per dollar and a low of N444 per dollar. The Forward rate, which changes more often than the Spot rate, saw a significant drop as it fell to an extent that its high was only N446 per dollar compared to the N414 per dollar seen on Thursday, while its low sat at N460 per dollar.

The daily turnover as recorded by the FMDQ group sat at $151.03 million.

Bitcoin to Naira Exchange Rate

As at Monday, December 20 2021, Bitcoin is currently going for N19,047,794.80 per coin while Ethereum is going for N1,574,459.14 per coin.

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Naira

Black Market Dollar to Naira Exchange Rate Today 7th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 7th, 2024 stood at 1 USD to ₦1,430.

Published

15 hours ago

May 7, 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 7th, 2024 stood at 1 USD to ₦1,430.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,420 and sold it at ₦1,410 on Monday, May 6th, 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 the black market

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

Buying Rate: ₦1,430
Selling Rate: ₦1,420

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 6th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 6th, 2024 stood at 1 USD to ₦1,420.

Published

2 days ago

May 6, 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 6th, 2024 stood at 1 USD to ₦1,420.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,400 and sold it at ₦1,390 on Saturday, May 4th, 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 the black market

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

Buying Rate: ₦1,420
Selling Rate: ₦1,410

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

4 days 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.