Dollar to Naira exchange rate updates daily on PRICE-Nigeria.COM, For online marketers, foreign exporters and those who based on exporting business this post will be updated daily for Black Market Dollar To Naira Exchange Rate, Interbank Dollar To Naira Rate, Bureau De Change Dollar To Naira Exchange Rate & Finally Parallel Market Rate.
DOLLAR TO NAIRA EXCHANGE RATE – BLACK MARKET
Naira gained Strength against dollar recently at the parallel market. At the Black Market Dollar Now Trades For
Buying: 1 USD Costs N380
Selling: 1 USD Equals N391
At Bureau De Change Market, The Naira was sold at N399 to a dollar. Western Union trades N370 for a dollar and at Money gram window Dollar trades for 370.
At the Inter bank window the Naira trades for N305, though Each banks sells dollars at different rate, gt bank trade dollar at N321 and Access Banks sells at N316.
A foreign exchange company Travellex sells dollar at the rate of N370 Suppressing the demand for dollar at parallel market thus lowering the sudden rise of dollar.
Each and every second, the dollar to Naira rate changes as i mentioned earlier you can bookmark this page for the updated price of dollar, One of the major challenges of economist in Nigeria is how to stabilize the Naira to dollar, Looking at Naira among other currencies like Kenya Shillings, Ghana Cedis & South Africa Rands, Naira stills stands the lowest when compared, One of the key factor that causes tis major difference is the rise for dollar demands which happens to come from Importers & Dollar Round Trippers, CBN tried as much as possible to suppress this by Funding exccess FX to the market ABOUT 1.1 Billion USD was funded for Home, School & Hospital Bills which really did work, The demands lowered a little bit from 520 Naira to 455 Naira.
ALSO READ: Euro To Naira Exchange Rate (Black Market)
Who knows what might happen when the FX provided is exhausted, This actually means Funding FX for Banks won’t only solve the problem at ground but self production CAN, If there is some ways to produce major products that are highly imported to the country ourselves then the agility for requesting for Dollars will reduce thus lowering the pressure on Naira.