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Black Market Rate

UPDATE: Naira Crashes to N1,495/$ in Black Market

by Victor Ndubuisi May 23, 2024

written by Victor Ndubuisi 1 minutes read

In the parallel market yesterday, the value of the Naira dropped, from Tuesday’s N1,470 per dollar to N1,495 per dollar.

On the other hand, the Naira strengthened to N1,462.59 per dollar on the Nigerian Autonomous Foreign Exchange Market (NAFEM).

UPDATE: Naira Further Crashes as Dollar Sales to BDCs Fluctuate

According to data from FMDQ, the Naira appreciated by N3.09 on Tuesday, when the indicative exchange rate for NAFEM dropped to N1,462.59 per dollar from N1,465.68 per dollar.

The market and NAFEM rates diverged as a result, with the difference widening to N33.59 per dollar from N4.32 on Tuesday.

May 23, 2024

Naira Continues Fight Back Against Dolla, Gain In Parallel Market

by Victor Ndubuisi April 17, 2024

written by Victor Ndubuisi 1 minutes read

At the official market on Monday, the value of the Naira increased and was valued at N1,136.04 against the US dollar.

The Naira appreciated by N6.34, according to data from the FMDQ Exchange’s official trading platform.

When compared to the previous trading date on Friday, April 12, when the exchange rate was N1,142.38 to the dollar, this indicates a 0.55 percent gain.On Monday, however, the entire daily turnover dropped from 281.34 million dollars on Friday to 251.60 million dollars.

See How Much Dollar Exchange To Naira Today 18 November 2021

In the meantime, the Naira fluctuated in value against the dollar between N1,227 and N1,000 during the Investors and Exporters (I&E) session.

April 17, 2024

Forex Crisis: Naira Appreciates Massively Against Dollar

Exchange Rate: Naira Gains Against Dollar In Parallel Market

by Victor Ndubuisi April 13, 2024

written by Victor Ndubuisi 1 minutes read

The official market saw a notable increase in the value of the Naira on Friday, when it was trading at N1,142.38 to the US dollar.

Data collected from the FMDQ Exchange’s official trading website, which controls the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed a noteworthy increase of N88.23 in the Naira’s value.

Prior to the Sallah vacation, on Monday, April 8, it was trading at N1,230.61 per dollar. This rise represents a 7.16% gain over that trading session.

From $125.55 million on Monday to $281.34 million on Friday, the daily turnover increased significantly.

Forex Trading: The Thin Line Between Scam And Business

Meanwhile, the Naira fluctuated between N1,265 and N1,100 versus the dollar during the Investors and Exporters (I&E) window.

The monetary and fiscal policies of President Bola Tinubu’s administration have been widely praised by economists for contributing to the Naira’s steady appreciation.

During its policy sessions in February and March, the Central Bank of Nigeria (CBN) raised interest rates by a total of 600 basis points. This preemptive action has lessened volatility, addressed dollar scarcity, and decreased dependency on parallel markets.

April 13, 2024

FOREX CRISIS: Naira Nears N1000/1$, Raises Concerns Amid CBN Probe

Business Featured Posts

24 May 2022: See The Black Market, Official Rate For Dollar Today

by Victor Ndubuisi May 24, 2022

written by Victor Ndubuisi 2 minutes read

Anaedoonline.ng keeps you up to speed on Nigeria’s official dollar rate, as well as Black Market, Bureau De Change (BDC), and Central Bank of Nigeria (CBN) prices.

What Is Today’s Official Dollar To Naira Exchange Rate?

Today, Monday, May 23rd, 2022, the official rate for $1 to naira is 418.54/$1.

4th May 2022: See How Much Naira Exchange To Dollar Today

According to statistics received from the FMDQ, where the naira is legally exchanged, the exchange rate between the naira and the US dollar began at 418.54/$1 on Monday, May 23rd, after closing at 419.02 on Friday, May 20th, 2022.

According to Anaedoonline.ng, the dollar to naira exchange rate has remained stable at N416.69 per dollar since the start of the year.

On the black market, how much is a dollar worth in naira today?

According to reports at the Bureau De Change, participants in the Lagos Parallel Market (Black Market) acquire a dollar for N570 and sell it for N603 on Monday, May 23rd 2022. (BDC).

Please be aware that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), and has advised anyone interested in trading Forex to contact their local banks.

See How Much Dollar Exchange To Naira Today 19 November 2021

Dollar to Naira Black Market Rate Today

The Buying Rate is 570, while the Selling Rate is 603.

Trading at the NAFEX official window

According to FMDQ statistics, the forward rate has fluctuated between 453.35 and 419.98.

Spot rate: The dollar traded between 444.00 and 413.00 against the naira.

The current price level in the market to immediately exchange one currency for another for delivery on the earliest feasible value date is known as the spot exchange rate.

May 24, 2022

Business Featured Posts

LATEST: Naira Bounce Back Against Dollar At Black Market

by Victor Ndubuisi November 26, 2021

written by Victor Ndubuisi 2 minutes read

Naira has hit strong again against the US dollar at the black market.

Anaedoonline.ng reports that the Nigerian official currency, Naira, has recovered against the United States dollar, trading at ₦557 per dollar, days after slumping at the parallel market better known as the black market.

Some Bureau De Change (BDC) markets in Lagos, Nigeria’s commercial city on Friday morning, November 26, showed that the Naira exchanged at ₦557/$1 after opening the week with an exchange rate of ₦565/$1. This represents a change of $8.

See How Much Dollar Exchange To Naira Today 23 November 2021

The new dollar to naira exchange rate further cements the hopes of speculators who predicted that the Naira will soon exchange at ₦500/$1. This was when it traded at ₦530/$1 two weeks ago.

How has the Naira performed against the US dollar over the week?

Anaedoonline.ng reports that in the black market, the players buy a dollar for N550 and sell for N558 on Friday morning, November 26, 2021, after they bought N555 and sold for N565 on Monday, 22 November 2021. This means that the naira has gained against the dollar with the exchange rate changing its position from what it traded on Monday.

How much is dollar to naira exchange rate today both buying and selling?

Anaedoonline.ng reports that in the black market, the players buy a dollar for N550 and sell for N557 on Friday morning, November 26, 2021, after they bought N555 and sold for N558 on Thursday morning, November 25. This means the exchange rate changed its position from the previous day especially as the buying dropped from N555 on Thursday to N550 today.

See How Much Dollar Exchange To Naira Today 18 November 2021

However, Anaedoonline.ng reports that the USD started this week at ₦564 in the parallel market also known as the black market on Monday, November 22, 2021. A change of $24 dollars compared to last Monday, November 15 when it opened at ₦540 per dollar.

November 26, 2021