Latest Dollar To Naira Exchange Rate Friday, 4 February 2022

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

The on Dollar to Naira rate at the official and black market exchange rate February 4th, 2022 can be found here on Ejes Gist News

 

Read Ejes Gist News latest updates  on Black Market exchange rate today, Bureau De Change (BDC) rates, as well as the official dollar rates  and CBN rates.


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Important Note : Please note that the exchange rate changes hourly. It depends on the volume of dollars available and the demand. What it means is that you can buy or sell 1 dollar at 435 and the price can change (high or low) within hours.

How Much is Dollar to Naira Official Exchange Rate Today?

The official rate today, Friday, February 4th 2022,1 United States Dollar equals 416.04 Nigerian Naira. 

According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦416.04/$1 on Friday 4th, after it closed at ₦416.07 to $1 on Thursday,  February 3rd,  2022.

Convert US Dollar to Nigerian Naira.

How much is 1$ to a Naira?

USD NGN
USD 416.349 NGN
5 USD 2,081.74 NGN
10 USD 4,163.49 NGN
25 USD 10,408.7 NGN

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The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for ₦565 and sell at ₦570 on Friday, February 4th 2022, according to data obtained from Bureau De Change (BDC).

Today

Dollar to Naira (USD to NGN) Today
Buying Rate 560
Selling Rate 570

 

Please be aware that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), and has advised individuals interested in trading in foreign exchange to contact their respective banks.

Also Read:  CBN Slashes Bank Charges: See Full List Of CBN New Bank Charges 2022

Trading at the official NAFEX window

The exchange rate between the Nigerian Currency and the US dollar opened at ₦415.68/$1 on 2nd February 2022 and closed at ₦416.07/$1. Showing a change of 0.88%.

Meanwhile, Bitcoin, the most popular , lost more value in January 2022 than it did in January 2021, as the digital asset fell victim to a variety of government policies, including rising bond yields.

Bitcoin began January with a market value of $46,306.45 per BTC, but as investors priced it low, it plummeted 16.8 percent in 31 days to $38,483.13 on January 31, 2022.

During the same period in January 2021, bitcoin increased 14.18 percent in value, closing the month at $33,114.36, up from $29,001.72 when the month began.

Read Also : Dogecoin, Bitcoin, ETH halt losing streak, as Cardano, Terra plunge

 

This means bitcoin has lost its gains from January 2021, which were $4112.64, considering the crypto asset’s asking price was wiped out by $7,823.32 during the same period last month.

Bitcoin’s struggle to stay above $40,000 in January reflected the coin’s inability to withstand government policy shocks or prevent investors from looking for other ways to hedge inflation.

In the fourth quarter of 2021, bitcoin took a major hit from China, which cracked down on bitcoin miners and exchanges. However, while the impact was minor, the return of the US bond put it in a precarious position.

Bonds pose a threat to speculative bitcoin, dragging it down.

Short term bitcoin holders sold off to move their capital into bonds after the US Federal Reserve announced in late December that it was looking to improve bond yields to attract investors, dragging BTC value down in January.

This demonstrates that, while bitcoin may have been able to withstand the presence of gold in the asset class or safe haven market over time, bonds still had a say in the direction of BTC, even if the latter had grown to be the breakout asset of the current decade.

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While the rate on the US bond has been rising, bitcoin has been declining, indicating that investors still regard bitcoin as speculative when compared to the risk-free bond, making the latter more dangerous to bitcoin.

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Also Read : How to Apply for New CBN N500,000, N750,000 and N3,000,000 Non-Interest and Collateral Free Targeted Credit Facilities

 

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Related Questions:

The dollar to naira today is ₦416.04/$

According to data obtained by to Ejes Gist News 1000 dollars in is ₦416,040.00/$

1 dollar in naira is ₦416.04/$ according to data obtained from I & E window.

100 dollars in naira is ₦41,604.00/$ this according to data obtained by correspondent.

Latest Dollar To Naira Exchange Rate

Latest Dollar To Naira Exchange Rate

That’s  in Nigeria. Always visit this website for daily USD to Naira Exchange Rate

Latest Dollar To Naira Exchange Rate 

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