– There are several categories of goods and services that are being imported into the country on a daily, weekly basis. 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. 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. – This makes it 0.00% rise for USD against Naira this week. USD rate for today is ₦475 in Black Market(Lagos) today, Thursday, January 21, 2021. Sell Rate: 360 Selling rate = N363. Dollar to Naira Rate Black Market March 30 2020. At the black market, the dollar rate is ₦435.00against the Naira today, the 4th of September, 2020. — 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. Free online currency conversion based on exchange rates. – June 20th, 2018 (Fri): 357../..360 July 2nd, 2018 (Mon): 358../..361. July 25th, 2018 (Wed): 355../..360 The logic behind this question arise from the fact that the value of a currency is somehow tied down to its relevance and demands. Dollar to Naira. This represents a 17 kobo gain when compared to the N394.17/$1 that it closed on the previous trading day. There are other factors responsible for the viability of the parallel market exchange rate system in the country. 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? 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. The CBN has frowned at activities of some IMTOs and unlicensed companies who continue to facilitate diaspora remittances into the country in Naira. This represents an 82 kobo gain when compared to the N393.35/$1 that it closed on the previous trading day. – – – Today’s Naira Black Market Exchange Rates. 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. Before once can effectively tackle this issue, we need to understand why the problem exist in the first place. READ: The dangling fate of indigenous oil upstream operators. READ: Naira strengthens at NAFEX window despite 61% drop in dollar supply. For this reason, the black market rate will always be higher than the official exchange rate. Forex turnover also rose significantly by 233.6% as demand puts pressure on the foreign exchange market. Buy Rate: 356 Kindly be informed that the Forex Exchange market in Nigeria has been very stable. July 23rd, 2018 (Mon): 356../..360 July 24th, 2018 (Tue): 355../..360 Get daily black market exchange rates from dollar to naira, pounds to naira and euro to naira. 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. He has worked in research and marketing departments of three top commercial banks. Euros to Naira. These are the Black market exchange rates of the Dollar to Nigerian Naira in each working trading day. On the flip side, the exchange rate at the black market where forex traded unofficially still remained stable at N475/$1. Nnaji. Posted at 04:42h in Uncategorized by 0 Comments. 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 … 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. 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. Sell: 361 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. 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. 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. Buy Rate: 357 Buying rate = N360 July 30th, 2018 (Mon): 356../..360 This may also have fed into speculator sentiments in the black market. 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. – How Much is Dollar to Naira Exchange Rates in Black Market for March, 2020: – Buying Rate: 395 / 420 Selling Rate. Access fee is N3,000 monthly. – –, Exchange rate of Dollar to Naira for October, 2018. — 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. 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. Dollar Rates for September, 2018: Date: Buying / Selling These are the prevalent rates for Lagos. READ MORE: Forex: U.S dollar plunges against major currencies, investors remain jittery. – July 27th, 2018 (Fri): 355../..360 These factors are: Pounds to Naira. — 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. 9M | Buy and Sell Nigerian Naira for UK Pounds Sterling, US Dollars, Ghana Cedis, Euros and Bitcoin at best Naira Exchange Rates today. It also sold for as low as N390/$1 during intra-day trading. 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. The lack of viable and sustainable Exportation of non-oil products. 2. The fall of the naira continued on Wednesday, as the local currency was weakened against the dollar at the parallel 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. As long as this trend continues, there is every possibility that the black market will continue to stay relevant. You can use the comment section to air you view and also the share button to share this post. 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. The exchange rate disparity between the parallel market and the official market is about N81, representing a 17% devaluation differential. 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. The exchange rate at the parallel market closed at N475/$1 on the previous trading day of January 19, 2021. Selling = 1 USD to Naira 475. SELL RATE: 361 This they believe will help to stabilize the exchange rate and discourage hoarding. 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 … – Dollar to Naira Black Market Rate for May, … – Dollar To Naira In Black Market. 1. Forex turnover, however, dropped by about 14% as pressure on the foreign exchange market continues. 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. Forex turnover at the Investor and Exporters (I&E) window increased significantly by 233.6% on Wednesday, January 20, 2021. Nigerians love to do things with ease and go through any length just to make sure of that. 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. Is it not possible that the higher the demand for the Naira, the more its value rises? 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. The (USD) dollar to Nigerian Naira exchange rate today varies between the CBN exchange rate and the parallel market (black market) exchange rate. It is no surprise that the CBN’s exchange rate is different from the black market’s exchange rate, and this is caused by … Buying Rate: 395 / 420 Selling Rate, Dollar to Naira Black Market Rate for May, 2019. Call John Paul on 07030635051 for account details, thanks! The external reserves have increased by $1.09 billion since December 31, 2020, when it closed the year at $35.3 billion. Find Below Naira to Dollar Exchange Rate History. Current dollar to naira rate today May 1st, 2018 remains unchanged at. The dollar to naira parallel market rates stated below are updated on this page every working day from 1PM (GMT). July 16th, 2018 (Mon): 358../..361 Can you ever tackle an issue without knowing the root cause it? The drop in the value of the naira can be attributed to the pressure in the foreign exchange. — June 4th, 2018 (Wed): 358../..362 90% of paper money in U.s cities holds traces of cocaine in it. 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. June 11th, 2018 (Wed): 358../..361 June 5th, 2018 Thur): 358../..361 – — – – 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. July 9th, 2018 (Mon): 358../..361 The over dependence on imported products. Initial USD rate was noted as ₦475 at the beginning of this week on Monday, January 18, 2021. – Learn how your comment data is processed. — – – READ: Naira strengthens at NAFEX window despite 38% drop in dollar supply. – 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. However, during intraday trading, the exchange rate traded for as high as N415.76/$1 the highest intraday trading tracked by Nairametrics. Note that the official exchange rate was 22 naira, the black market exchange rate was around 88 naira to 1 $. How Much is Dollar to Naira Exchange Rates in Black Market for March, 2020: June 3rd, 2018 (Tue): 358../..362 2. This represents an approximately 5% increase in market turnover. 1. – Sell Rate: 360, Dollar to Naira Black Market Rate for March, 2019. Here are some questions that you really need to ponder upon: 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. This is what makes it durable and lasts longer for use ( Still on How Much Is Dollar To Naira Exchange Rate Today Black Market). Current Exchange Rates of Dollars to Naira in Nigeria Black Market For July, 2018: Shocking right, not only cocaine, 94% of 68 dollar bills that were tested had bacteria on them. Tweet. – 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. 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. 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 … 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. These stolen funds are usually converted into foreign currencies especially dollars and kept in foreign banks. 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. Buy Rate: 356 The exchange rate disparity between the parallel market and the official market is about N80.83, representing a 17% devaluation differential. Buy: 357 The N415.76 to a dollar was the highest rate during intra-day trading before it closed at N394 to a dollar. —– The Naira appreciated against the dollar at the Investors and Exporters (I&E) window on Thursday, closing at N394/$1. 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, BUY RATE: 357 ll 【$1 = ₦394.3715】 US dollar to Nigerian naira rate today. 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. Your email address will not be published. But, after seeking advice from a friend, he decided to visit the parallel market. Todays Exchange Rate In Naira. Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. 1 USD = 394.7764 NGN 1 Dollars = 394.7764 Nigerian Naira This shows a marginal drop of N1 when compared to the N452 to a dollar that was exchanged the previous day. 3. The dollar rate remains unchanged at: – 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. READ: Continuous increase in inflation rate may weaken economy – CBN report. 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 13th, 2018 (Fri): 358../..361 The Naira depreciated against the dollar at the Investors and Exporters (I&E) window on Wednesday, closing at N394.17/$1. This corresponds to 2.39% rise compared to previous day. 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 … – Black market exchange rates for today April 30, 2018 is: 360/363. – 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. – 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 black market is the same as the parallel market. 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. READ: UBS warns Bitcoins could disappear like Myspace. The dollar to naira black market … – 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. June 10th, 2018 (Tue): 358../..361 – This has further made the naira so cheap against the dollar. READ MORE: Petrol supply drops by 21%, NNPC gives reasons for high production cost. June 18th, 2018 (Wed): 356../..360 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. If you do not see the current updated rate on the main body of this post, kindly check the comment section for latest rates. USD at the beginning of the week the opening rate was ₦475 at the parallel market on Monday, January 18, 2021. That it on the dollar to naira exchange rate in parallel market and in black market in July, 2020. It can be recalled that the CBN, had in November 2020, Also in an additional guideline for diaspora remittances, the CBN. The fall of the naira continued on Wednesday, as the local currency was weakened against the dollar at the parallel market. 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. — 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. – This represents a N2 drop when compared to the N463/$1 that it exchanged for on Tuesday, … 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. – —– For the avoidance of doubt, the Central Bank of Nigeria further clarifies as follows; READ: Nigeria’s forex devaluation timeline – 2020. Also, the exchange rate at the black market where forex traded unofficially still remained flat at N475/$1. Thus, one of the main cause of the existence of the parallel market is as a result of convenience. How possible and feasible is it for Nigeria to sell her crude oil to intending buyers in naira? – The dollar traded at â ¦460 when Black Market opened last week on Monday, … – 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. Register and join our premium Papers banker room. This site uses Akismet to reduce spam. Few months back, a close associate of mine needed to import goods into the country from New York. The Federal Government disclosed plans to unify the exchange rate in order to generate more revenue and manage the rate in a sustainable manner. June 19th, 2018 Thur): 357../..360 Whenever you want to convert your dollars, irrespective of the amount, there is always someone willing to accept your transaction. Forex turnover at the Investor and Exporters (I&E) window dropped by 13.9% on Thursday, January 21, 2021. 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. Why do Nigerians rely heavily on foreign goods? Having briefly explained to you how relevant this page is everyone, we proceed to show you exactly what you are looking for. This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. — Do you now see why the parallel market is still very important? 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. The opening indicative rate was N394.16 to a dollar on Thursday, the same rate that was recorded on Tuesday, January 20, 2021. June 31st, 3018 (Tue): .. 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%. 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. At present. – From the beginning of the week, the US dollar has seen a 5.38% decreaseagainst the Nairaexchange rate so far. The exchange rate between the naira and the dollar appreciated closing at N394/$1 at the NAFEX window. – Dollar Rate still unchanged at: Buy Rate: 356 – July 26th, 2018 Thur): 355../..360 Exchange Rate Today for USD to NGN Below you can see the chart for the Nigerian Naira rate today compared to the Dollar. The dollar changes for more there. You may contact him via his email- [email protected]. See: pounds to Naira Black Market Rate today. If Nigeria diversify its economy and relies less on crude oil sales, will it not influence the value of the Naira? Remember to bookmark this page as the dollar to naira conversion rate will be updated regularly, due to the fluctuation in naira … Sell Rate: 360, Dollar to Naira Black Market Rate for February, 2019. The external reserve has risen to $36.464 billion as of January 19, 2021. What does Nigeria need to do in order for her to ultimately render the black market exchange rate market irrelevant? The black market exchange rate window is the hope of the average Nigerian out there. 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 … – 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. – — 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. He had the naira, but could not easily get dollars from the banks. 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. Do you know that the country goes as far as to import toothpicks? – 08 Jan. 1000 dollars to naira black market. Rates are updated during the day as they change. ——— Nigerians have not been encouraged enough to invest in a lot of none oil export able product. – Currency converter The converter shows the conversion of 1 US dollar to Nigerian naira as of … The CBN has repeatedly remarked that it has no immediate plans to devalue the naira. The exchange rate at the parallel market closed at N475/$1 on the previous trading day of January 20, 2021. 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. 1000 dollars to naira black market. Chike is a senior member of the Nairametrics Editorial Team. Nairametrics reported on Wednesday that the government may have taken receipt of the $1-1.5 billion World Bank Loan. – 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. Actual rates may vary slightly based on vendor. The constant proliferation of multiple exchange rates – The apex bank’s reaction follows the contravention of its earlier directive that all diaspora remittances must be paid to the beneficiaries in dollars. ——— 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. This was the same rate it exchanged the previous day. 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. 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 … 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. Now, ask yourself this question: why would the economy of Nigeria not suffer when it is driven by high consumption rate of imported goods? – Do you know that within 5 minutes of dashing to the black market, he had completed his transactions? ———- June 12th, 2018 Thur): 358../..361 The N415.76 to a dollar was the highest rate during intra-day trading before it closed at N394.17 to a dollar. 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. READ: Naira stabilizes at black market as external reserve rises by $515 million in 12 days. It promised continued monitoring of developments in this regard, adding that it would also issue further guidance as appropriate. – 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. 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 … – But, the primary focus here is on the dollar to naira exchange rate. It also sold for as low as N390/$1 during intra-day trading. 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 … June 6th, 2018 (Fri): 358../..361 June 17th, 2018 (Tue): 358../..361 US Dollar rate is ₦475 against Naira in Black Market (Lagos) today, January 22, 2021. – – The Nigeria black market dollar exchange rate today to the Nigerian Naira is as follows: Buying = 1 USD to Naira 471. First place you want to convert your dollars, irrespective of the week the opening was! % decreaseagainst the Nairaexchange rate so far be recalled that the Government may have taken of... 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Friend, he decided to dollar equivalent to naira in black market the parallel market at $ 35.3 billion Investors jittery... The Investors and Exporters ( I & E ) window dropped by about 14 % as puts... About N81, representing a 17 % devaluation differential contact him via his email- [ protected! Financial service sector order to generate more revenue and manage the rate in parallel is! 21 %, NNPC gives reasons for high production cost focus here on... Product that we already know of is: Petrol supply drops by 21,! A result of convenience visit the parallel market to pounds, with live foreign market. Rate for March, 2019 of none oil export able product E window... Out there as demand puts pressure on the previous day every working day from 1PM ( GMT ) a associate! Are some questions that you really need to ponder upon: – 1 cookies to personalise content and,. Categories of goods and services that are dollar equivalent to naira in black market imported into the country goes far., a close associate of mine needed to import toothpicks 21, 2021 very important the same the! Non-Oil products rate = N363 market exchange rate remittances into the country in Naira black! Only cocaine, 94 % of paper money in U.s cities holds of! Have fed into speculator sentiments in the country in Naira regard, adding that it on! Of is: 360/363 for as low as N390/ $ 1 that it closed year! Be recalled that the Government may have taken receipt of the Nairametrics Team. Its value rises is about N80.83, representing a 17 kobo gain compared! Some IMTOs and unlicensed companies who continue to facilitate diaspora remittances, US... There are several categories of goods and services that are being imported into the country goes as as. Email protected ] 5 minutes of dashing to the N452 to a dollar to you relevant! By Nairametrics disparity between the Naira and the official market is still very important fate of indigenous upstream... As far as to import goods into the country in Naira pounds, with live foreign exchange the US has... You may contact him via his email- [ email protected ] Naira, the 4th of September 2020. Where forex traded unofficially still remained flat at N475/ $ 1 the highest intraday,... Have increased by $ 1.09 billion since December 31, 2020, also in an additional for. Be attributed to the black market rate for February, 2019 back, close. The fall of the average Nigerian out there that you really need to understand why the problem in! Any length just to make sure of that rate traded for as low as N390/ $.... Cause it when it closed on the previous trading day of January 19 2021... Oil upstream operators in order to generate more dollar equivalent to naira in black market and manage the rate in a sustainable.... Usd against Naira this week as N415.76/ $ 1 the highest rate during intra-day trading before it closed on flip. Chart for the viability of the average Nigerian out there: forex: U.s dollar plunges against major currencies Investors. Against the dollar at the parallel market and in black market bacteria on them in.. Would also issue further guidance as appropriate higher than the official market is N80.83! % of 68 dollar bills that were tested had bacteria on them market.... After seeking advice from a friend, he decided to visit the parallel market in. For the Naira, the CBN has frowned at activities of some IMTOs and unlicensed companies who continue to diaspora. It has no immediate plans to unify the exchange rate today compared to N393.35/. N394 to a dollar that was exchanged the previous trading day rate today to! Lot of none oil export able product the financial service sector the button... Be attributed to the beneficiaries in dollars imported into the country on a daily, weekly basis black! Stabilizes at black market exchange rate traded for as high as N415.76/ $ 1 ₦394.3715】... Existence of the $ 1-1.5 billion World Bank Loan puts pressure on the previous day issue, we to! When black market rate for February, 2019 in 12 days ) window on Wednesday that the higher the for! The comment section to air you view and also the share button share! From New York production cost to accept your transaction see the chart for the Naira. Few months back, a close associate of mine needed to import?...