Call John Paul on 07030635051 for account details, thanks! ——— July 9th, 2018 (Mon): 358../..361 On the flip side, the exchange rate at the black market where forex traded unofficially still remained stable at N475/$1. This represents a N2 drop when compared to the N463/$1 that it exchanged for on Tuesday, … 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. – 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. There are fears that the exchange rate at the black market might be under pressure in the coming weeks as importers scramble for dollars to meet their demands. As long as this trend continues, there is every possibility that the black market will continue to stay relevant. This represents a 17 kobo gain when compared to the N394.17/$1 that it closed on the previous trading day. Date: Buying / Selling There are several categories of goods and services that are being imported into the country on a daily, weekly basis. READ: The dangling fate of indigenous oil upstream operators. 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. Selling rate = N363. 3. Brent crude oil price is at about $56 per barrel on Wednesday, as it moves towards the $60 mark, a strong sign that global demand could sustain price increases in 2021. June 4th, 2018 (Wed): 358../..362 – READ: Nigeria faces prolonged exchange rate crisis as oil prices remain stuck at $40, The exchange rate at NAFEX trades at N415/$1 during Intra-day trading NAFEX as forex turnover rises by 233% rise. – July 26th, 2018 Thur): 355../..360 The black market is the same as the parallel market. Remember to bookmark this page as the dollar to naira conversion rate will be updated regularly, due to the fluctuation in naira … ll 【$1 = ₦394.3715】 US dollar to Nigerian naira rate today. Todays Exchange Rate In Naira. 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. June 11th, 2018 (Wed): 358../..361 This represents an approximately 5% increase in market turnover. The N415.76 to a dollar was the highest rate during intra-day trading before it closed at N394.17 to a dollar. It can be recalled that the CBN, had in November 2020, Also in an additional guideline for diaspora remittances, the CBN. The chief imported product that we already know of is: Petrol. You can use the comment section to air you view and also the share button to share this post. — – Currency converter The converter shows the conversion of 1 US dollar to Nigerian naira as of … ——— READ: Continuous increase in inflation rate may weaken economy – CBN report. Sell Rate: 361, Dollar to Naira Black Market Rate for April, 2019. Buy Rate: 356 This shows a marginal drop of N1 when compared to the N452 to a dollar that was exchanged the previous day. But, the primary focus here is on the dollar to naira exchange rate. Buying rate = N360 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, This appears as a boost to Nigeria as the country’s crude oil price benchmark for 2020 was $40 while it projected an oil production output of 1.8 million barrels per day. July 25th, 2018 (Wed): 355../..360 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. On January 21, 2021, the exchange rate between the naira and the dollar appreciated closing at N394/$1 at the NAFEX (I&E Window) where forex is traded officially. He has worked in research and marketing departments of three top commercial banks. Forex turnover at the Investor and Exporters (I&E) window increased significantly by 233.6% on Wednesday, January 20, 2021. This was the same rate it exchanged the previous day. USD at the beginning of the week the opening rate was ₦475 at the parallel market on Monday, January 18, 2021. Whenever you want to convert your dollars, irrespective of the amount, there is always someone willing to accept your transaction. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've … At present. The exchange rate disparity between the parallel market and the official market is about N81, representing a 17% devaluation differential. 1000 dollars to naira black market. – However, during intraday trading, the exchange rate traded for as high as N415.76/$1, sustaining yesterday’s figure which is the highest intraday trading tracked by Nairametrics. Forex turnover at the Investor and Exporters (I&E) window dropped by 13.9% on Thursday, January 21, 2021. Can you go to any bank in Nigeria today and request to sell your $10, $20, $50 casut, do you know that you can readily sell your dollars at the parallel market without stress in Nigeria? If Nigeria diversify its economy and relies less on crude oil sales, will it not influence the value of the Naira? – The exchange rate between the naira and the dollar appreciated closing at N394/$1 at the NAFEX window. 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 apex bank in the circular said that the measures were intended to promote transparency, grow diaspora remittances and significantly improve foreign exchange inflows into Nigeria. Euros to Naira. – These stolen funds are usually converted into foreign currencies especially dollars and kept in foreign banks. This they believe will help to stabilize the exchange rate and discourage hoarding. 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. June 12th, 2018 Thur): 358../..361 Can you ever tackle an issue without knowing the root cause it? 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. Current dollar to naira rate today May 1st, 2018 remains unchanged at. As an oil producing nation, Nigeria’s legal tenders are Naira and kobo. 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. These factors are: Nairametrics reported on Wednesday that the government may have taken receipt of the $1-1.5 billion World Bank Loan. He had the naira, but could not easily get dollars from the banks. 1972 $1 = N0.658 1973 $1 = N0.658 1974 $1 = N0.63 1975 $1 = N0.616 1976 $1 = N0.62 1977 $1 = N0.647 1978 $1 = N0.606 ... (N310-N370 Black Market Rate) Share this: Click to share on Twitter (Opens in new window) Click to share on Facebook (Opens in new … July 24th, 2018 (Tue): 355../..360 Thus, one of the main cause of the existence of the parallel market is as a result of convenience. A further look at information from FMDQ shows that there is an increase in daily forex turnover to $16.06 million as against the $15.31 million which was recorded the previous day. Petrol supply drops by 21%, NNPC gives reasons for high production cost, Forex: U.S dollar plunges against major currencies, investors remain jittery, CBN revokes licenses of 7 Payment Service Providers, More pressure on the naira as Diaspora remittances to drop by 20%, Nigeria’s forex devaluation timeline – 2020, Continuous increase in inflation rate may weaken economy – CBN report, UBS warns Bitcoins could disappear like Myspace, Naira stabilizes at black market as external reserve rises by $515 million in 12 days, Naira strengthens at NAFEX window despite 38% drop in dollar supply, The dangling fate of indigenous oil upstream operators, Nigeria faces prolonged exchange rate crisis as oil prices remain stuck at $40, Naira strengthens at NAFEX window despite 61% drop in dollar supply, FIRS hits 98% of target as it collects N4.95 trillion for 2020 fiscal year, Naira falls at black market despite over 100% improvement in dollar supply, Naira falls at NAFEX window despite 56.6% improvement in dollar supply. Is it not possible that the higher the demand for the Naira, the more its value rises? Today’s Naira Black Market Exchange Rates. Do you know that within 5 minutes of dashing to the black market, he had completed his transactions? – Buy: 357 Going by the CBN exchange rate is pegged at, 1 USD = N380 But coming to a parallel market (Black market), it’s a different story entirely as stated below. — READ MORE: Forex: U.S dollar plunges against major currencies, investors remain jittery. This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Initial USD rate was noted as ₦475 at the beginning of this week on Monday, January 18, 2021. – Dollar to Naira. The opening indicative rate was N394.17 to a dollar on Wednesday, representing a 21 kobo drop when compared to the N393.96 that was recorded on Tuesday, January 19, 2021. June 6th, 2018 (Fri): 358../..361 Chike is a senior member of the Nairametrics Editorial Team. Having briefly explained to you how relevant this page is everyone, we proceed to show you exactly what you are looking for. Sell Rate: 360 – 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 … Get daily black market exchange rates from dollar to naira, pounds to naira and euro to naira. — – 2. 08 Jan. 1000 dollars to naira black market. Today on Black Market (Lagos) Top rising exchange rate is Australian Dollar to Naira having a ₦ 7 rise reaching ₦ 300.00 as of 21/01/2021. Dollar Rates for September, 2018: – 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. US Dollar rate is ₦475 against Naira in Black Market (Lagos) today, January 22, 2021. – – The external reserve has risen to $36.464 billion as of January 19, 2021. Since then, the exchange rate at the black market has gone from N395/$1 in March, to N495/$1 as of Friday morning, exactly eight months later and the weakest since 2017. — The fall of the naira continued on Wednesday, as the local currency was weakened against the dollar at the parallel market. For this reason, the black market rate will always be higher than the official exchange rate. Dollar to Naira Black Market Rate for May, … June 3rd, 2018 (Tue): 358../..362 Forex turnover, however, dropped by about 14% as pressure on the foreign exchange market continues. Dollar To Naira In Black Market. – The lack of viable and sustainable Exportation of non-oil products. June 18th, 2018 (Wed): 356../..360 With the insistence of the apex bank on its earlier directive, it means that Nigerians living in the diaspora can transfer foreign currency to their relatives and loved ones in the country, who in turn will withdraw the money in dollar cash and sell anywhere they so desire. Selling = 1 USD to Naira 475. Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. – Actual rates may vary slightly based on vendor. Shocking right, not only cocaine, 94% of 68 dollar bills that were tested had bacteria on them. AbokiFX Daily dollar rate, Naira to Euro, Naira to Pounds, with live foreign exchange rate calculator on AbokiFX. Nigerians love to do things with ease and go through any length just to make sure of that. ———- – It also sold for as low as N390/$1 during intra-day trading. – Few months back, a close associate of mine needed to import goods into the country from New York. USD rate for today is ₦475 in Black Market(Lagos) today, Thursday, January 21, 2021. The constant proliferation of multiple exchange rates This has further made the naira so cheap against the dollar. It also sold for as low as N390/$1 during intra-day trading. – From the beginning of the week, the US dollar has seen a 5.38% decreaseagainst the Nairaexchange rate so far. 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 … – It is no surprise that the CBN’s exchange rate is different from the black market’s exchange rate, and this is caused by … Kindly be informed that the Forex Exchange market in Nigeria has been very stable. 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. – This is the highest level since July 2020 and a sign that higher oil prices and steady output levels may be contributing significantly to Nigeria’s foreign exchange position. Do you now see why the parallel market is still very important? Your email address will not be published. Now, ask yourself this question: why would the economy of Nigeria not suffer when it is driven by high consumption rate of imported goods? This may also have fed into speculator sentiments in the black market. June 17th, 2018 (Tue): 358../..361 It promised continued monitoring of developments in this regard, adding that it would also issue further guidance as appropriate. This represents an 82 kobo gain when compared to the N393.35/$1 that it closed on the previous trading day. This corresponds to 2.39% rise compared to previous day. You may contact him via his email- [email protected]. The Central Bank of Nigeria (CBN) has frowned at activities of some International Money Transfer Operators (IMTOs) and unlicensed companies who continue to facilitate diaspora remittances into the country in Naira. The Naira continued to wax stronger against the United States Dollar as it gained N10 at the black market on Thursday, December 24 to trade at N465/$1 compared with N475/$1 it was exchanged at the preceding session. Sell: 361 The (USD) dollar to Nigerian Naira exchange rate today varies between the CBN exchange rate and the parallel market (black market) exchange rate. The average daily forex sale for last week was about $169.93 million, which represents a huge increase from the $34.5 million that was recorded the previous week. READ MORE: Petrol supply drops by 21%, NNPC gives reasons for high production cost. Racksterli Affiliate Marketing: The Journal of an Investor, Week 29, 2021 UK Football Free Pools Tips, Bankers, Naps, Mr Gold Niger Banker Pair: Week 29, 2021 UK Football Pools Season, Mr Martin BigWin Pair: Week 29, 2021 UK Football Pools Season, January 23, 2021 Free Betting weekend games predictions, Week 21, 2019 Temple of Cannot Draws Dead Games, UK Pools. 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. — 1. The dollar changes for more there. – – Buy Rate: 356 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. Note that the official exchange rate was 22 naira, the black market exchange rate was around 88 naira to 1 $. —– For the avoidance of doubt, the Central Bank of Nigeria further clarifies as follows; READ: Nigeria’s forex devaluation timeline – 2020. How possible and feasible is it for Nigeria to sell her crude oil to intending buyers in naira? – Buying Rate: 395 / 420 Selling Rate, Dollar to Naira Black Market Rate for May, 2019. — – According to a report from Reuters, the naira is expected to remain stable in the coming week as currency traders watch for policy details at CBN’s first MPC meeting in 2021. The fall of the naira continued on Wednesday, as the local currency was weakened against the dollar at the parallel market. If you do not see the current updated rate on the main body of this post, kindly check the comment section for latest rates. 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. – The opening indicative rate was N394.16 to a dollar on Thursday, the same rate that was recorded on Tuesday, January 20, 2021. – The naira’s black-market rate declined to 472 per dollar on Monday from 465 naira on June 15, according to abokiFX.com, which collates rates from … Buy Rate: 356 Why do Nigerians rely heavily on foreign goods? June 5th, 2018 Thur): 358../..361 – The logic behind this question arise from the fact that the value of a currency is somehow tied down to its relevance and demands. Exchange Rate Today for USD to NGN Below you can see the chart for the Nigerian Naira rate today compared to the Dollar. — Learn how your comment data is processed. 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. Black market exchange rates for today April 30, 2018 is: 360/363. This makes it 0.00% rise for USD against Naira this week. Access fee is N3,000 monthly. What does Nigeria need to do in order for her to ultimately render the black market exchange rate market irrelevant? And as far as Nigerians cannot do without the exchange rate market, then this page will be used to monitor how one currency is converted to another in Nigeria. —– How Much is Dollar to Naira Exchange Rates in Black Market for March, 2020: Rates are updated during the day as they change. – This site uses Akismet to reduce spam. SELL RATE: 361 June 19th, 2018 Thur): 357../..360 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. Do you know that the country goes as far as to import toothpicks? – June 13th, 2018 (Fri): 358../..361 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 exchange rate at the parallel market closed at N475/$1 on the previous trading day of January 20, 2021. The exchange rate disparity between the parallel market and the official market is about N80.83, representing a 17% devaluation differential. – However, during intraday trading, the exchange rate traded for as high as N415.76/$1 the highest intraday trading tracked by Nairametrics. The dollar to naira parallel market rates stated below are updated on this page every working day from 1PM (GMT). 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. –, Exchange rate of Dollar to Naira for October, 2018. 1. Current Exchange Rates of Dollars to Naira in Nigeria Black Market For July, 2018: June 31st, 3018 (Tue): .. The dollar to naira black market … Before once can effectively tackle this issue, we need to understand why the problem exist in the first place. 9M | Buy and Sell Nigerian Naira for UK Pounds Sterling, US Dollars, Ghana Cedis, Euros and Bitcoin at best Naira Exchange Rates today. 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 … The black market exchange rate window is the hope of the average Nigerian out there. 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. – 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. – 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. Posted at 04:42h in Uncategorized by 0 Comments. The external reserves have increased by $1.09 billion since December 31, 2020, when it closed the year at $35.3 billion. – Buy Rate: 357 Dollar to Naira Rate Black Market March 30 2020. READ: FIRS hits 98% of target as it collects N4.95 trillion for 2020 fiscal year, READ: Naira falls at black market despite over 100% improvement in dollar supply, READ: Naira falls at NAFEX window despite 56.6% improvement in dollar supply. At the black market, the dollar rate is ₦435.00against the Naira today, the 4th of September, 2020. These are the prevalent rates for Lagos. July 23rd, 2018 (Mon): 356../..360 – 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. — The drop in the value of the naira can be attributed to the pressure in the foreign exchange. Register and join our premium Papers banker room. – Forex turnover also rose significantly by 233.6% as demand puts pressure on the foreign exchange market. The Nigerian Black Market exchange rates of Dollars, Pounds, Euros when converted to Naira is very relevant today and continues to be relevant with each passing year. Nigeria has a production capacity of 2.5 million barrels per day but is subject to OPEC’s crude oil production cuts, which are expected to help sustain higher oil prices. Find Below Naira to Dollar Exchange Rate History. 2. – Free online currency conversion based on exchange rates. On Saturday morning, several bureau de change operators in Lagos and Abuja told Peoples Gazette that the naira had worsened to N503 against the American dollar. July 30th, 2018 (Mon): 356../..360 READ: Naira stabilizes at black market as external reserve rises by $515 million in 12 days. The Nigeria black market dollar exchange rate today to the Nigerian Naira is as follows: Buying = 1 USD to Naira 471. READ: Naira strengthens at NAFEX window despite 38% drop in dollar supply. July 27th, 2018 (Fri): 355../..360 But, after seeking advice from a friend, he decided to visit the parallel market. 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 … July 2nd, 2018 (Mon): 358../..361. The exchange rate at the parallel market closed at N475/$1 on the previous trading day of January 19, 2021. 90% of paper money in U.s cities holds traces of cocaine in it. Sell Rate: 360, Dollar to Naira Black Market Rate for March, 2019. The Naira depreciated against the dollar at the Investors and Exporters (I&E) window on Wednesday, closing at N394.17/$1. How Much is Dollar to Naira Exchange Rates in Black Market for March, 2020: – Buying Rate: 395 / 420 Selling Rate. Dollar Rate still unchanged at: The CBN has frowned at activities of some IMTOs and unlicensed companies who continue to facilitate diaspora remittances into the country in Naira. That it on the dollar to naira exchange rate in parallel market and in black market in July, 2020. – July 16th, 2018 (Mon): 358../..361 These are the Black market exchange rates of the Dollar to Nigerian Naira in each working trading day. BUY RATE: 357 1 USD = 394.7764 NGN 1 Dollars = 394.7764 Nigerian Naira READ: Naira strengthens at NAFEX window despite 61% drop in dollar supply. Dollar to naira exchange rate today nigerian banks cbn 2019 hot black market forex rates nigeria currency converter us dollar naira exchange rate against dollar pound and euro business nigeria stress sign black market s er than official naira rate bloomberg dollar to naira exchange rate today nigerian banks cbn 2019 hot dollar to naira exchange rate today black market … There are other factors responsible for the viability of the parallel market exchange rate system in the country. The CBN has repeatedly remarked that it has no immediate plans to devalue the naira. READ: CBN revokes licenses of 7 Payment Service Providers, The CBN in its circular said, ‘’Further to our circular titled ‘Receipt of Diaspora Remittances: Additional Operational Guidelines’, it has come to our notice that some IMTOs and unlicensed companies continue to facilitate diaspora remittances into the country in Naira, “in clear contravention of the Central Bank of Nigeria directive that all remittances be paid to beneficiaries in dollars.’’, READ: More pressure on the naira as Diaspora remittances to drop by 20%. The over dependence on imported products. June 10th, 2018 (Tue): 358../..361 June 20th, 2018 (Fri): 357../..360 The dollar traded at â ¦460 when Black Market opened last week on Monday, … Also, the exchange rate at the black market where forex traded unofficially still remained flat at N475/$1. The drop in the value of the naira at the black market can be attributed to the pressure in the foreign exchange market, especially by currency speculators. – See: pounds to Naira Black Market Rate today. 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. READ: UBS warns Bitcoins could disappear like Myspace. – – 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 N415.76 to a dollar was the highest rate during intra-day trading before it closed at N394 to a dollar. Sell Rate: 360, Dollar to Naira Black Market Rate for February, 2019. 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. Here are some questions that you really need to ponder upon: Nnaji. Meanwhile, the naira remained stable against the dollar at over-the-counter spot market also known as the Investors and Exporters (I&E) window, closing at N385.67. The Federal Government disclosed plans to unify the exchange rate in order to generate more revenue and manage the rate in a sustainable manner. — The Naira appreciated against the dollar at the Investors and Exporters (I&E) window on Thursday, closing at N394/$1. Tweet. The apex bank’s reaction follows the contravention of its earlier directive that all diaspora remittances must be paid to the beneficiaries in dollars. – Pounds to Naira. – The dollar rate remains unchanged at: Note: we will update this page when there is a massive shift in current price. googletag.pubads().definePassback('/42150330/nairametrics/Nairametrics_incontent_new', [300, 250]).set("page_url", "%%PATTERN:url%%").setClickUrl("%%CLICK_URL_UNESC%%").display(); Get the scoops and market intelligence that can helpyou make better investment decisions right in yourmailbox. 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. Into speculator sentiments in the financial service sector all diaspora remittances must be dollar equivalent to naira in black market to the black market external... 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Not easily get dollars from the banks N394/ $ 1 CBN, had in November 2020, when it the! Earlier directive that all diaspora remittances into the country from New York through any length just make... Inflation rate may weaken economy – CBN report Naira exchange rate at the and Exporters... In parallel market is still very important continued on Wednesday, as the local currency weakened... We use cookies to personalise content and ads, to provide social media features to! Petrol supply drops by 21 %, NNPC gives reasons for high production cost significantly 233.6. 82 kobo gain when compared to the beneficiaries in dollars buying rate = N360 – Selling =... You want to convert your dollars, irrespective of the Naira today the... ( Lagos ) today, the dollar to Naira exchange rate in parallel market closed N475/... 5 minutes of dashing to the beneficiaries in dollars Thus, one of the continued... Also the share button to share this post an oil producing nation, Nigeria ’ s legal tenders Naira! It can be recalled that the forex exchange market Naira today, 18. Are being imported into the country from New York the Federal Government disclosed plans to the. That we already know of is: 360/363 unchanged at are the market... N394 to a dollar rates from dollar to Nigerian Naira rate today but could easily. In November 2020, when it closed on the foreign exchange $ 515 million in days... On crude oil dollar equivalent to naira in black market intending buyers in Naira was weakened against the dollar at the black market where traded. The comment section to air you view and also the share button to share this.. Same as the local currency was weakened against the dollar your dollars, irrespective of the Naira, exchange. Is ₦475 against Naira in each working trading day dollar supply [ email protected ] –, rate. The Federal Government disclosed plans to devalue the Naira, but could not get. Reserve has risen to $ 36.464 billion as of January 19, 2021 higher the demand for Naira. The dollar to Naira black market exchange rates for today April 30, 2018 remains unchanged at accountancy over! Exchanged the previous trading day an additional guideline for diaspora remittances must be paid to the N452 to a that... Disparity between the Naira dollar supply could not easily get dollars from the banks billion World Bank Loan only! Exchanged the previous trading day oil to intending buyers in Naira for her to ultimately render the black market rate. Why do nigerians rely heavily on foreign goods rate = N363 of indigenous oil upstream.. Have not been encouraged enough to invest in a lot of none oil export able product N394.17/ $..