The N415.76 to a dollar was the highest rate during intra-day trading before it closed at N394.17 to a dollar. – — June 12th, 2018 Thur): 358../..361 – Call John Paul on 07030635051 for account details, thanks! It went further to say that it shall not hesitate to authorize the closure of the accounts of unlicensed operators in Nigerian banks, including being barred from accessing banking services in Nigeria. – — Todays Exchange Rate In Naira. Selling rate = N363. The higher oil prices and steady production output have positively impacted Nigeria’s external reserves, rising sharply to $36.304 million according to central bank data dated January 14, 2020. SELL RATE: 361 – Shocking right, not only cocaine, 94% of 68 dollar bills that were tested had bacteria on them. June 3rd, 2018 (Tue): 358../..362 It can be recalled that the CBN, had in November 2020, Also in an additional guideline for diaspora remittances, the CBN. These are the prevalent rates for Lagos. The CBN warned that strict sanctions, including withdrawal of operating licenses, shall be imposed on any individuals and/or institutions found to be aiding, abetting or directly contravening these guidelines. – June 6th, 2018 (Fri): 358../..361 – – READ: The dangling fate of indigenous oil upstream operators. – As the Naira continues to appreciate against the dollar closing at N440/$1 on Tuesday, the dollar continues to experience a dump by speculators at the black market. – The chief imported product that we already know of is: Petrol. The black market exchange rate window is the hope of the average Nigerian out there. – June 10th, 2018 (Tue): 358../..361 3. —– Register and join our premium Papers banker room. Forex turnover at the Investor and Exporters (I&E) window increased significantly by 233.6% on Wednesday, January 20, 2021. June 11th, 2018 (Wed): 358../..361 — See: pounds to Naira Black Market Rate today. US Dollar rate is ₦475 against Naira in Black Market (Lagos) today, January 22, 2021. — This makes no change for USD rate against Naira this week.. To have a monthly quick review, Dollar was traded at ₦470 at the beginning of January on Friday, January 01, 2021.As of today with Dollar … Current Exchange Rates of Dollars to Naira in Nigeria Black Market For July, 2018: Nairametrics reported on Wednesday that the government may have taken receipt of the $1-1.5 billion World Bank Loan. Conversion from United States dollar to Nigerian naira can be done at current rates as well as at historical rates – to do this, select the desired exchange rate date. In a related development, the naira remained stable against the dollar at the Investors and Exporters (I&E) window, trading at N386 to a dollar on Wednesday, June 17, 2020. As long as the economy of Nigeria is still largely influenced by the importation of Foreign goods and services, there is nothing stopping the black market system. – The US dollar to Nigerian Naira exchange rate today is determined by some factors, and varies between the central bank of Nigeria (CBN) exchange rate and the black market (parallel market) exchange rate. ll 【$1 = ₦394.3715】 US dollar to Nigerian naira rate today. July 24th, 2018 (Tue): 355../..360 This represents an 82 kobo gain when compared to the N393.35/$1 that it closed on the previous trading day. June 31st, 3018 (Tue): .. — – Thus, one of the main cause of the existence of the parallel market is as a result of convenience. Buy Rate: 357 – Nigeria has multiple exchange rates: we have the official bank rate, Pilgrims’ special fixed rates, Investors window rates, black market rates, interbank rates, and lots more. Tweet. USD at the beginning of the week the opening rate was ₦475 at the parallel market on Monday, January 18, 2021. Sell Rate: 360 – The Federal Government disclosed plans to unify the exchange rate in order to generate more revenue and manage the rate in a sustainable manner. Posted at 04:42h in Uncategorized by 0 Comments. – Pounds to Naira. The Nigeria black market dollar exchange rate today to the Nigerian Naira is as follows: Buying = 1 USD to Naira 471. The dollar rate remains unchanged at: – The fall of the naira continued on Wednesday, as the local currency was weakened against the dollar at the parallel market. Having briefly explained to you how relevant this page is everyone, we proceed to show you exactly what you are looking for. Few months back, a close associate of mine needed to import goods into the country from New York. The N415.76 to a dollar was the highest rate during intra-day trading before it closed at N394 to a dollar. How Much is Dollar to Naira Exchange Rates in Black Market for March, 2020: – Buying Rate: 395 / 420 Selling Rate. It means they can for instance receive foreign transfers such as Western Union or Moneygram, withdraw it in dollars and then sell at the black market rate or anywhere else they want to. 1 USD = 394.7764 NGN 1 Dollars = 394.7764 Nigerian Naira The Nigerian currency depreciated to its weakest level since February 2017 in the unofficial black market after the country’s central bank cut supply to … Nigeria s naira hits new record low of 420 per dollar on abokifx get black market exchange rates naira to dollar business plan in nigeria nigeria floats its currency at last middle east and ghana cedis to naira exchange rate … As far as the above factors continue to exist, then the black market exchange rate system will continue to be relevant to all residence in the country. Do you know that within 5 minutes of dashing to the black market, he had completed his transactions? – This has further made the naira so cheap against the dollar. June 19th, 2018 Thur): 357../..360 – – Nnaji. Do you know that the country goes as far as to import toothpicks? Parallel market: According to information from Abokifx – a prominent FX tracking website, at the black market where forex is traded unofficially, the Naira depreciated against the dollar to close at N465/$1 on Wednesday. Forex turnover also rose significantly by 233.6% as demand puts pressure on the foreign exchange market. The black market exchange rate of dollar is the price at which vendors operating outside legal banking channels exchange the dollar for Naira – always intending to maximize huge profit. On January 20, 2021, the exchange rate between the naira and the dollar depreciated closing at N394.17/$1 at the NAFEX (I&E Window) where forex is traded officially. This shows a marginal drop of N1 when compared to the N452 to a dollar that was exchanged the previous day. The dollar to naira parallel market rates stated below are updated on this page every working day from 1PM (GMT). ———- Is it not possible that the higher the demand for the Naira, the more its value rises? Today’s black market exchange rates in Nigeria remains: How much is Dollar to Naira Exchange Rate in black market April, 2020, Current Dollar Naira rate in Black Market. He has worked in research and marketing departments of three top commercial banks. According to information obtained from Abokifx, the naira depreciated to N453 to a dollar at the parallel market, otherwise known as the black market, on Wednesday, June 17, 2020. — – The exchange rate at the parallel market closed at N475/$1 on the previous trading day of January 20, 2021. Learn how your comment data is processed. June 18th, 2018 (Wed): 356../..360 This is what makes it durable and lasts longer for use ( Still on How Much Is Dollar To Naira Exchange Rate Today Black Market). The (USD) dollar to Nigerian Naira exchange rate today varies between the CBN exchange rate and the parallel market (black market) exchange rate. These factors are: Black market exchange rates for today April 30, 2018 is: 360/363. – Initial USD rate was noted as ₦475 at the beginning of this week on Monday, January 18, 2021. Sell Rate: 360, Dollar to Naira Black Market Rate for March, 2019. Rates are updated during the day as they change. The exchange rate disparity between the parallel market and the official market is about N81, representing a 17% devaluation differential. Free online currency conversion based on exchange rates. – Your email address will not be published. Buy: 357 Nigeria also needs the external reserves to hit $40 billion if it is to adequately meet some of the pent up demand that has piled up since 2020 when oil prices crashed and the pandemic caused major economic lockdowns. At the black market, the dollar rate is ₦435.00against the Naira today, the 4th of September, 2020. As the Federal government of Nigeria through the CBN, introduces some measures targeted at improving the supply of dollars in the foreign exchange market, the Naira … On the flip side, the exchange rate at the black market where forex traded unofficially still remained stable at N475/$1. Buying rate = N360 – How Much is Dollar to Naira Exchange Rates in Black Market for March, 2020: The Naira depreciated against the dollar at the Investors and Exporters (I&E) window on Wednesday, closing at N394.17/$1. Access fee is N3,000 monthly. The exchange rate is still being affected by low oil prices, dollar scarcity, a backlog of forex demand, and a shaky economy that has been hit by the coronavirus pandemic. Sell Rate: 361, Dollar to Naira Black Market Rate for April, 2019. AbokiFX Daily dollar rate, Naira to Euro, Naira to Pounds, with live foreign exchange rate calculator on AbokiFX. There are several categories of goods and services that are being imported into the country on a daily, weekly basis. Here are some questions that you really need to ponder upon: This is the current price as updated today, you can always check this spot for daily updates (or periodic updates) because they are done in realtime. Just think about the clothes you put on, the shoes, cars you drive, mobile phones you are now using to browse this page, and lots more. The volatility in the foreign exchange market continued and is compounded by the drop in dollar supply due to revenue shortages emanating from a crash in crude oil prices. The black market is the same as the parallel market. READ: Naira stabilizes at black market as external reserve rises by $515 million in 12 days. From the beginning of the week, the US dollar has seen a 5.38% decreaseagainst the Nairaexchange rate so far. The dollar to naira black market … The opening indicative rate of N386.39 represents a loss of N1.00 to a dollar when compared to the opening rate of N387.39 that was recorded on Tuesday, June 16, 2020. He had the naira, but could not easily get dollars from the banks. The over dependence on imported products. The fall of the naira continued on Wednesday, as the local currency was weakened against the dollar at the parallel market. To keep yourself current and up-to-date with all the happenings and price movement changes with regard to the black market exchange rate of Dollars to Naira, check our live archive blog on Current Dollar Naira rate in Black Market. Buy Rate: 356 This disclosure was contained in a circular titled, ‘Modalities for Payout of Diaspora Remittances’, issued by the CBN on Friday, January 22, 2021, and signed by its Director Trade and Exchange Department, Dr O.S. Euros to Naira. July 25th, 2018 (Wed): 355../..360 July 2nd, 2018 (Mon): 358../..361. The exchange rate disparity between the parallel market and the official market is about N80.83, representing a 17% devaluation differential. Joseph Sanusi (CBN governor 1999 to 2004) After the military boys left government and handed over to a Democratically elected government, Joseph Sanusi was appointed CBN governor, Dollar Rate still unchanged at: READ MORE: Forex: U.S dollar plunges against major currencies, investors remain jittery. 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