Naira

Dollar to Naira Today March 30, 2022

Published

2 years ago

March 30, 2022

The Dollar to Naira Today in the exchange market as of Tuesday, 29th March stands at N416.25/$1 – maintaining the same rates from the previous exchange widow – this is according to rates from the Central Bank of Nigeria.

With the Pounds Sterling and the Euros, the local currency fell to N547.12/£1 and 461.83/€1 respectively – This is against the local currency’s previous N545.91/£1 and N456.54/€1 from exchange rates as of Monday, 28th March.

Dollar To Naira Today in The Black Market

In the unregulated parallel black market, Investors King observed that the exchange between peer-to-peer for the Dollar and Naira currently ranges from N580/$1 to N585/$1. The rates are different from location to location across the country.

CBN Disbursed Over N3tr to Save Economy

The Central Bank of Nigeria has disclosed that had disbursed over N3 trillion in intervention loans aimed to facilitate economic recovery and generate employment opportunities since the wake of the COVID-19 pandemic. The CBN governor, Godwin Emefiele disclosed this at the Ekiti State University (EKSU), Ado-Ekiti, while delivering a lecture for convocating students titled: “The Role of Central Bank in Managing Economic Downturns.”

The CBN governor revealed that the apex bank had disbursed N948 billion to 4,478,381 small-holder farmers to boost food production in the country while also establishing about 12.5 million direct and indirect jobs for Nigerian youths.

Investors King recalls that following the novel coronavirus that led to a nationwide lockdown, the CBN had worked alongside some financial institutions to provide household and SME loans to Nigerians in a bid to alleviate the economy. This was followed by a number of other policies that the apex bank introduced in a bid to save the economy.

However, many Nigerians have decried that the economy continues to deteriorate with inflation on the rise. And this is due to a number of reasons with the exchange rate being one of them.

Cryptocurrency Today

In the digital currency exchange market, Bitcoin and Ethereum took a dip as stakeholders still project higher exchange values in the coming weeks. Bitcoin fell to N19.63 million/1BTC against the previous rates at N19.76 million/1BTC – this represents a o.60% decrease for the popular digital currency.

The second most popular cryptocurrency, Ethereum, also declined to N1.41 million/1ETH which represents a 0.73 decline against previous values at N1.42/1ETH.

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Naira Remains Unchanged Against Sterling Pounds, US Dollar at Official Forex Market

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Dollar to Naira Today March 29, 2022

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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

11 hours 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

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

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

21 hours 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.

Black Market Dollar to Naira Exchange Rate

Buying Rate: N1,350
Selling Rate: N1,340

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

3 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.

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.