Dollar To Naira Exchange Rate Today (Black Market Rate)
On this page, Eko Hot Blog compiles dollar to naira exchange rates daily during the week so our readers can easily have access to the rates the American dollar exchanged against the Nigerian naira each day for the week
Eko Hot Blog reports that the dollar to naira exchange at the official market, as well as, at the parallel market otherwise known as the black market for each day during the week will be accessed by our readers.
IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. What it means is that…you can buy or sell 1 dollar at ₦560 and the price can change (high or low ) within hours.
Eko Hot Blog has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
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Eko Hot Blog reports that Nigeria’s local currency, naira, rises against the United States dollar weekend but analysts appear not to be satisfied with a relatively overpriced local currency, thus expecting further devaluation at Investors and Exporters foreign exchange rate window.
Data from the FMDQ Exchange platform showed that Naira traded at N414.30 to a dollar in the Investors and Exporters window, gaining 0.2% week on week against the previous record.
While external reserves position has expanded significantly following an inflow from foreign currency borrowings of $4 billion and about $3.5 billion inflow from special drawing rights, the naira has faced many pressures, crossing N420 briefly at investors and exporters foreign exchange window.
This week, Nigeria’s foreign currency reserves snapped its ten consecutive weeks of accretion as it closed lower by $102.20 million week on week to $41.73 billion, according to Cordros Capital in a macroeconomic note.
In the parallel market, the foreign exchange rate has worsened after the central bank decision to ban weekly dollar supply to bureau de change operators in July. However, low dollar supply has persisted despite growing prices of oil in the global market,
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