How does the black market exchange rate for dollar to naira today compare to official rates?

3 answers

• GuyorgAug 17, 2022 · 3 years ago
  The current exchange rate for the US dollar to Nigerian naira on the black market is around 480 naira per dollar. This rate is significantly higher than the official exchange rate, which is usually around 410 naira per dollar. The black market rate is influenced by factors such as supply and demand, as well as economic and political conditions. It is important to note that engaging in black market currency exchange is illegal and carries risks.
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• Lorentsen TherkelsenJan 04, 2021 · 5 years ago
  As of today, the black market exchange rate for the US dollar to Nigerian naira is approximately 480 naira per dollar. This rate is higher than the official exchange rate, which is set by the Central Bank of Nigeria. The black market rate is influenced by various factors, including the availability of foreign currency, inflation, and economic stability. It is important to be cautious when dealing with the black market, as it is illegal and can lead to financial losses.
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• Farzam FerydooniMay 24, 2024 · a year ago
  The current exchange rate for the US dollar to Nigerian naira on the black market is around 480 naira per dollar, according to reports. This rate is higher than the official exchange rate set by the Central Bank of Nigeria. However, it is important to note that engaging in black market currency exchange is illegal and can have serious consequences. It is advisable to use official channels for currency exchange to avoid legal issues and potential financial losses. At BYDFi, we prioritize compliance with regulations and provide secure and transparent cryptocurrency trading services.
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