How Much Is Dollar To Naira Exchange Rate Today Black Market in (2017)

how much is dollar to naira today in black market exchange rate
how much is dollar to naira today in black market exchange rate

How Much Is Dollar To Naira Exchange Rate Today In Black Market

If you are interested in knowing How Much Is Dollar To Naira Exchange Rate Today Black Market, then we at fab36 have got your back with our daily update on fluctuations of naira to dollar exchange rate in Nigeria.

HOW MUCH IS DOLLAR TO NAIRA EXCHANGE RATE TODAY BLACK MARKET

The US dollar to Nigerian Naira exchange rate today varies between the CBN exchange rate and the parallel market (black market) exchange rate. Going by the CBN exchange rate, 1 USD = N305. But coming to parallel market, it’s a different story entirely.

How Much Is Dollar To Naira Exchange Rate Today Black Market

Buying = 1 USD to Naira 385

Selling = 1 USD to Naira 390

Looking at this and comparing it with about 4 years back, we would see that the Nigerian Naira had been loosing it value rapidly. What then can be done to strengthen it? It can be strengthened by reducing the demand of the dollar against the Naira in the country. This can be achieved by local production and exportation, stop the use of the USD as a legal tender as practice by some firms and other practices strengthening the dollar against the Naira in the country.

how much is dollar to naira today in black market exchange rate
how much is a dollar to naira exchange rate today black market

Furthermore, the United State’s Dollar is unarguably one of the strongest currencies in the world, occupying the 6 or 7 position. The Nigerian Naira, on the other hand, is the currency of the largest country in Africa. These two currencies have for sometimes now been having an ever-widening gap between them in terms of value with the United State’s Dollar having an upper hand. This article would try among other things to showcase the US Dollar to Nigerian Naira exchange rate for today. But before that, let take a look at a brief overview of the two currencies.

THE UNITED STATES DOLLAR USD

Except you’re just landing on another planet, the United States dollar needs no introduction. However, there are a lot of things many don’t know about this currency. Asi from e being the currency of the United States of America, the US dollar is also an official currency of East Timor, Ecuador, El Salvador, Marshall Islands, Federated States of Micronesia, Palau, Panama, Zimbabwe, Caribbean Netherlands, British Virgin Islands, Turks and Caicos Islands. Aside these countries, it is used unofficially in 27 other countries around the world. In fact, the United States currency is the most used currency in international transactions and most known by people around the world. The currency is divided into 100 smaller cent (¢) units. It “$” as it symbol and USD as it code. Impressively, this currency has an inflation rate of 0.10%. In the States, the USD is known as buck or greenback. THE NIGERIAN NAIRA Ngn The Nigerian Naira Ngn is the currency of the Federal Republic of Nigeria. This currency has been a very strong currency in the 20th century but getting to the 21st century more specifically in recent years, the value of the currency has been falling at an alarming rate. ₦ is the symbol of the Nigerian Naira and NGN is it code. It is also divided into 100 units each known as kobo. That’s all on The Major Question of ” How Much Is Dollar To Naira Exchange Rate Today Black Market “, share your suggestions and opinions with us through the comment box and like us on facebook.com/36fab or follow us on twitter.com/LagosNW. Messi Related :

Tags : How Much Is Dollar To Naira Exchange Rate Today Black Market , naira to dollar exchange rate today black market , how much is naira to dollar today , 1 USD to ngn , 1 USD to naira , dollar rate in Nigeria 2017

8 Comments

  1. hello pls i want to know if i can acess this same rate in afloa or if u can get me contact of any money exchanger with this same rate u quoted here cos am in ghana pls get back asap

  2. with the fall in dollar against naira, prices of products are still alarming. i hope and pray the exchange rate of USD to NGN goes below N100 to $1.

  3. i pray dollar come down because Buhari is not in Nigeria
    Firstly, why did Buhari not have is treatment in Nigeria

    • Hello Don XUNEROW
      The current rate of dollar to naira is what you have in the post above, we update the rate frequently with each changes in the parallel market / blackmarket

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