Here are factors we have identified that make naira or exchange rate to fluctuate. How much is dollar to naira today in black market Key Factors that Affect Foreign Exchange Rates Rate for Dollar to Naira exchange rate.Abokifx exchange rate in Nigeria today black market As at today with USD being traded at ₦530 we see a % for USD to Naira exchange rate for this month. When we look at this month, USD was traded at ₦ at the beginning of this September on Wednesday, September 1, 2021. This makes it 0.03% rise for USD against Naira this week. USD has been traded at ₦527 when Black Market opened this week on Monday, August 30, 2021. USD is being traded at ₦530 in Black Market (Lagos) today, Sunday, September 5, 2021. As of today with US Dollar being traded at ₦530, we see a 3.52% rise for Dollar to Naira exchange rates since the begining of last August. When we look at the rates monthly, we see that USD rate started August at ₦512 on Monday, August 02, 2021. READ ALSO: Donating A Mortgage Of My Knowledge Towards People’s Choices and Decisions This makes a 0.57% increase for Dollar rate against Naira this week. Dollar started this week at ₦527 in Black Market on Monday, August 30, 2021. US Dollar is being traded at ₦530 in Black Market (Lagos) today, September 04, 2021. How CBN regulates Exchange Rates of Dollar to Naira todayĭollar rate in Nigeria bank (Data Source: CBN) Daily Dollar to Naira Black Market (Lagos) Review US$/N Remains at N208 on Monday in the Black Market– 260115ġ9.Naira to Dollar Exchange Rate ₦1 = $0.00190 US Dollar to Naira Lagos Parallel Market Rates Today (Black Market) NGNĬonvert Dollar to Naira in Black Market Dollar US$/N is N208 today in the Black Market - 230115ġ8. Oil Price and Exchange Rate Today – 150115ġ7. Oil Price and Exchange Rate Today – 130115ġ6. Oil Price and Exchange Rate Today – 090115ġ5. Oil Price and Exchange Rate Today - 080115ġ4. Oil Price and Exchange Rate Today – 311214ġ3. Nigeria: Oil Price stays at -$8.94 below benchmark - 291214ġ2. How Oil Prices and Exchange Rate fared – 151214ġ1. Nigeria: Oil Price drops by $1.24c against 2015 benchmark - 091214ġ0. Nigeria: Oil Price is $1.05c above 2105 benchmark - 201114ĩ. Nigeria: Oil Price gains $2,42c above 2015 benchmark - 241114Ĩ. Nigeria: Oil Price Gains $2.70 over 2015 benchmark - 251114ħ. **Crude Oil (WTI) figure was as at end of day Jan -27, 2015ġ. Nigeria: Oil Price DROPS further by $4.87c to 2015 benchmark - 031214Ģ. Nigeria: Oil Price DROPS $6.56c below 2015 benchmark – 021214ģ. Nigeria: Oil Price DROPS $4.11C below the 2015 bench mark - 011214Ĥ. N igeria: Oil Price falls as OPEC fails to cut output - 271114ĥ. * Difference between Nigeria's benchmark and oil pricesīrent Price is as at 14:46:57 GMT- Jan -28, 2015 # Proposed oil price benchmark for Nigeria's 2015 budget Today’s price of Brent Crude oil (Nigeria’s crude oil type) was $49.14 while the other variant of crude (WTI) traded at $46.23 per barrel the previous day. You would recall that the Federal government initially set the benchmark price for 2015 budget at $78 before the first downward review to $73 of which circumstances forced it to review further down to $65 per barrel. The benchmark oil price for the yet-to-be-passed 2015 budget is $65. The downward slide in oil price caused the Federal Government of Nigeria to review downwards its benchmark oil price for 2015 budget. The commodity has dropped significantly from above $100 to $43.24 as at Wednesday, January 28th, 2015. Oil price has also witnessed heavy decline since the last quarter of 2014. The graph below shows in pictorial form the volatility of the naira against the dollar in the black market for the last 3weeks while the CBN official rate has remained fairly stable at the official rate within the same time period. It however recorded a new low of N211/$1 today. The value of the naira has since the CBN’s devaluation traded between N173 and N211 to a dollar in the black market. The jack in the exchange rate differential is being compounded by the new CBN directive to stop dollar sales to BDCs and the dwindling forex earnings of Government.
On Wednesday, the naira traded for N211 to a dollar, a point above the N210/$1 it traded on Tuesday. The value of the naira in the parallel market (black market) continues to trade far away from its official rate since the Central Bank of Nigeria devalued the currency on the 25th November, 2014. Wednesday, January 28, 2015, 5:58 PM / ResearchĪs we continue to monitor the performance of the naira against the dollar following the devaluation of the Nigerian currency in November 2014, we highlight today how the naira fared against the dollar in the parallel market.