Black Market Dollar To Naira Exchange Rate Today Thur, Dec 30, 2021

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Dollar to Naira Black Market Exchange Rate Today , Black Market Dollar To Naira Exchange Rate Today

Do you want to know the black market dollar to naira exchange rate today, Thursday , December 30th 2021 Including the Official Exchange Rate in Nigeria? 

Ejes Gist News provides the most up-to-date dollar to naira exchange rates, including black market, Bureau De Change (BDC), official dollar to naira rate, and Central Bank of Nigeria (CBN) rates.

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

The official rate today, Thursday December 30th , for $1 dollar to naira = ₦414.02/$.

According to data from the FMDQ Security, where forex is officially traded, the naira-to-dollar opened at ₦414.02/$ on Thursday,  30th , after closing at ₦415.00/$1 on Wednesday , December 29th, 2021.

Read : Npower Latest News Today Thursday 30th Dec 2021 – October, November and December Stipends

 

How much is exchange rate of Dollar to Naira in Black Market today in Nigeria?

The dollar is worth ₦570  today at the Lagos Parallel Market (Black Market), according to the current exchange rate. Players  buy a dollar for ₦565 naira and sell a dollar for ₦570, according to the current exchange rate at Bureau De Change (BDC).

The

The Central Bank of Nigeria (CBN) does not recognize the black market (also known as the parallel market), and customers who want to trade foreign currencies should contact their local banks.

Trading at the NAFEX official window ( )

The exchange rate between the naira and the USD opened at ₦414.07/$ on 29th December 2021 and closed at ₦415.10/$1.

Dollar to Naira (USD to NGN)
Buying 565
Selling 570

Click Here To See All Daily today black market 


Port Harcourt


The Nigerian Naira to Dollar parallel Market today in Rivers State December 30th (Parallel Market) sells at ₦570/1$, according to sources at Bureau De Change (BDC).

Aboki Exchange Rate In Nigeria Today 2022


Dollar to Naira (USD to NGN) Black Market Dollar To Naira  Rate Today  in Port Harcourt
Buying Rate 562
Selling Rate 570

 

Convert US Dollar to Nigerian Naira Today, December 30th 2021. How much are 100 dollars in Naira? 

USD Dollar Conversion of Dollar Naira 
1 USD 414.02 NGN
10 USD 4,137.7 NGN
100 USD 41,377 NGN

 

Black Market Exchange Rate in Nigeria Today Range


Today 30th December  2021. The U.S. Dollar to Nigerian Naira in Black Market Today.


Dollar to Naira (USD to NGN) Black Market Exchange Rate in Nigeria  range
Buying Rate 565-562
Selling Rate 570 -568

Dollar To Naira Exchange Rate Today Black Market

xchange Rate of Dollar to Naira yesterday Black Market  Closed at ₦570/$

is where you get your and Today Naira Rate

Dollar to Naira (USD to NGN) Black Market Exchange Rate Yesterday
Buying Rate 562
Selling Rate 568

 

Meanwhile,  Nigeria’s external reserve was $40.5 billion as of December 23rd, 2021, two days before Christmas, according to the Central Bank of Nigeria. However, a closer examination of the data reveals that we are in the midst of one of the worst streaks since 2019.

According to all indications, the external reserve will likely end up near $40 billion, a significant improvement over the $34.9 billion we ended up with in 2020. Rising oil prices, increased oil sales, higher external loans, and a marginal increase in foreign inflows are all contributing to the increase in external reserves.

Black Market Today Thursday, Dec 30th, 2021

 

Despite this modest success, the Naira-to-dollar exchange rate deteriorated in 2021, particularly in the black market, and is expected to close around N570/$1 according to our estimates. This is even more concerning when you consider that the exchange rate appeared to be strengthening in November and early December, with a range of N540-555/$1.

A closer examination of Nigeria’s external reserve data reveals that the naira’s inability to maintain a favorable exchange rate is due to the country’s declining external reserves. Nigeria’s external reserve reached a two-year high of $41.8 billion on October 29, 2021, as inflows from oil sales and external loans boosted the country’s forex balances.

However, the downward trend began as we approached December 2021, when external reserves began to fall every day from November 2nd, 2021 to the present. Indeed, between August 24th and October 27th, 2021, the external reserves increased for 50 days in a row, adding $8.4 billion to the balance.

Compare this to a 40-day decline from October 29th to December 23rd, 2021, during which we lost $1.24 billion in net outflows. See the data that was used.

Significant decreases

On the 29th of November, we lost $604.6 million, followed by a $157 million outflow on the 12th of October 20221.

On the other hand, we saw a significant increase on the 30th of September, the 8th of October, and the 15th of October, with $785.8 million, $620.5 million, and $566.4 million, respectively.

What does this imply?

Nigeria’s external reserve is expected to be around $40 billion. However, this means we have yet to recover from the $44 billion level we reached in August and September of this year.

It’s also clear that a large portion of the forex inflows that would normally go through official channels instead go through unofficial channels like the black market.

Forex traders dislike the CBN’s deliberate policy of not implementing a full managed float of the exchange rate, preferring to dump it for unofficial sources.

If the current policies are maintained, we do not expect Nigeria’s forex situation to improve. However, as the external reserve gyrates to cycles of inflows and outflows, we will see some swings.

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Bitcoin, the world’s most valuable by market capitalization, fell nearly $3K as it traded at its $48K support level, a level that some analysts believe is critical in determining the ’s outlook for 2022.

At the time of writing, the crypto market’s losses had surpassed $370 million due to liquidations.

Long positions, which are futures contracts in which traders bet on a price rise, accounted for nearly 80% of these liquidations.

 

The Nigerian Naira is the currency of Nigeria. Our currency rankings show that the most popular Nigerian Naira exchange rate is the NGN to USD rate. The currency code for Nairas is NGN. And the currency symbol is ₦.

 

Check: How do I fund my eNaira wallet; Steps on How To Fund eNaira Wallet From Bank Account

Today Black Market ( This Week )

As Ejes Gist News reports, during the first trading day of the week on Thursday, December 6, 2021, in the Parallel Market, also known as the Black Market, the USD opened the week at ₦565. Since last Thursday, when it opened at ₦558 Naira per dollar, there has been a 2 naira change in the exchange rate.

First Bank current .

First of Nigeria Plc Currency Exchange Rate is $1 = ₦480.00

Pay Attention To eNaira Speed Wallet Download Link – How To Sign Up

Zenith bank today.

Zenith Bank Plc Currency Exchange Rate $1 = ₦481.00

Western Union USD to naira exchange rate today.

Western Union  Currency Exchange Rate $1 = ₦479.04

Wema bank USD to naira exchange rate today.

Wema Bank Plc Currency Exchange Rate is $1 = ₦480.00.

GTBank USD to naira exchange rate today

GTBank Bank Plc Currency Exchange Rate is $1 = ₦481.0

.

UBA Bank of Nigeria Currency Exchange Rate $1 = ₦480.01

Access Bank USD to Naira exchange rate today

Access Bank PLC Currency Exchange Rate $1 = ₦480.09.

 

eNaira Currency ,Dollar To Naira Exchange Rate Today

 

The eNaira wallet was launched by the Federal Government, led by Central Bank Governor Godwin Emefiele, to facilitate transactions and support the Naira (₦).

 

Click here to learn more about the eNaira wallet.  eNaira wallet

 

The USD to Naira Black Market Calculator depends on the volume of dollars available in the black market.

Disclaimer:  The black market exchange rate of the US dollar to the Nigerian naira is regulated by supply and demand, but the is determined by the CBN Governor and monetary policy.

In Nigeria, there is no uniform exchange rate.

Also, visit Ejes Gist News for today black market as we will keep you updated with the latest updates on the Naira To Dollar Exchange Rate Today, Crude,  FX Market.

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