Currency market Archives - Nigerian informative blog

Dollar to Naira Black Market Exchange Rate today. You can now check dollar to naira black market here. Let's take to See the current dollar to Naira exchange rate as of today. Let's help compare the Dollar to Naira bank rate vs aboki rate. Dollar to Naira Black Market Rate Today Dollar to Naira (USD to NGN) Black Market Exchange Rate Today Buying Rate 565 Selling Rate 572 Honestly If you have just a few hundred of dollars right now in Nigeria, you are made, in fact you are a rich man . Interested in knowing what the black market rates are in Abuja and Lagos? dealers exchanged the naira at 572 While if you want to sell 1 dollar right now, they will buy it at 565 This means that if you have 1 Dollar right now you are going to change it for 572 Previously it was reportedly sold in Southend of Nigeria, In Uyo, dealers are said to trade at 570 dollar by punch Dollar, Pounds, Euro to Naira Today – GBP to Naira Today DateCurrencySelling(NGN)Buying(NGN)October 27, 2021US DOLLAR572565October 27, 2021POUNDS STERLING767763October 27, 2021EURO659655 Dollar to Naira Yesterday and Throughout the Week How much is naira to dollar today in black market? You can now See today's black market dollar to naira exchange rate today. When we checked on PREMIUM TIMES reports on forex dealers in Uyo and Abuja respectively it was reported that the paired currency closed at N568.00 and N572.00 per $1 at the black market. Based on what premium times report we have been able to arrived at the following calculations Black Market table rate 157252860105720158580201144025143003017160402288050286001005720015085800200114400250143000300171600350200200500286000750429000100057200015008580002000114400050002860000100005720000Black market rate Let's not forget that TheCable had earlier on given us a report , that the Nigerian Naira traded at N575/$1. “browsing through the market report and watch of TheCable showed that the Nigerian Naira was and currently exchanges at N575 to the dollar at just three different markets in Lagos, ” This implies a N0.06 or 0.02 per cent appreciation from N414.73 it exchanged in the previous session . exchange rate between the naira and the US dollar opened at ₦413.94/$1 on 21st October 2021 and closed at ₦415.07/$1, showing an increase at 0.24. According to data from FMDQ, forex turnover for Thursday, 21 October 2021 was pegged $103.16 million up from $334.97 million for Wednesday 20 October, 2021 We have a report from Punch and major news papers across the country please read below News flash:The dollar rose to between N572 and N575 in different parts report punch News paper https://punchng.com/dollar-hits-n575-two-days-after-aboki-fx-update-suspension/ link from report of punch publication The Central Bank of Nigeria has suspended the sale of Dollars to BDC and has asked banks to meet dollar demand of ordinary Nigerians who want to genuinely want dollars for genuine reasons. Right now The only exchange rate market recognize by CBN is the Investors and Exporters window, So if you want to buy or sell dollars you are expected to make use it without breaking the law. Although everyone has been airing their own opinion on this matter. Expert has argued that had it been the BDC was operational things won't have gone wrong this far. Let's not forget that the CBN has condemned the act of registered money changers who engaged in round-tripping.. See:pounds to Naira Black Market Rate today rate for Dollar to Naira exchange rate.Abokifx exchange rate in Nigeria today black marketblack market rate dollar to nairausd to ngn black market today.how much is dollar to naira today in black market Key Factors that Affect Foreign Exchange Rates Here are factors we have identified that make naira or exchange rate to fluctuate. INFLATION RATES: inflation is known to have a direct impact on blackmarket exchange rate. If the Nigerian economy can be stable and inflation put under control, it will impact positively on the Naira but on the other hand if the Naira continues to nose dive down it could tell that the prices of food and other basic necessities are getting higher on daily basis. INTEREST RATES: interest rates is another instrument to watch. If the rate at which bank lends money out goes up then it will reflect negatively on the economy, making the economy to contract and hence naira will suffer a fall in value. GOVERNMENT DEBT: National debt can influence investors confidence and subsequently inflow of dollars into the economy. If inflows are high naira exchange rate will appreciate favourably to the Naira. SPECULATION: most times naira to dollar exchange rate are influenced because of speculators. They hoard money in anticipating gain and this makes naira to fall further. TERMS OF TRADE: favourable terms of trade will lead to increase in the value of Naira to dollar but unfortunately Nigeria is experiencing an imbalance terms is trade. We import everything from China, India and most of Asians countries. RECESSION: recession is a stress on the economy. This scares investors and direct investment away from the economy. Nigeria experienced recession in 2016 and a third recession in 2020 due to fall in oil price and Covid-19 impact on world economy.