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Naira to Dollars Exchange Rate for today| Exchange rate hits N485 at black market


Naira to Dollars Exchange Rate for today| Exchange rate hits N485 at black market

Currently, the exchange rate between the naira and dollar was offered for as high as N485/$1 as dollar scarcity hit the parallel market.

However, most traders where seen to  sell for N475/$1, others sell for as high as N490/$1. Wired transfers trade is as high as N490/$1, according to our findings.

Certain information about the Nigeria economy is not privy to the entire knowledge of the public. Not because it is not in public domains but a lot of persons would not at any point give credence to it since it doesn’t affect them directly. The Nigeria populace are such that until somethings affect them fuscal dá fuscal, they either pretend it doesn’t exist or that it doesn’t matter. One of such is what we will be treating in this article.

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For starters, permit that we ask, what is the current official exchange rate for the Nigeria naira to the United States dollar? Mind you we are not requesting for the black market exchange rating. If you’d be sincere to a fault, you might either not have an actual knowledge of it or probably what you are aware of is the black market rating.

The other set of people who might interesting have an idea are those who trade either on foreign markets, with foreigners or are likely in the import and export market.

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Such persons will not be oblivious of how inconsistent the Naira has been against other currencies – particularly the Dollar. The native currency of Nigeria, the Naira, has been on a rather disappointing free fall for quite a long while coming.

By the end of this Article, we assure that you’ll have come to knowing the Black market  Dollar to Naira exchange rate today and also the parallel market accepted rating.

Remember that, the Dollar is the most recognized and widely used currency in the world and on the valuation of currency stands second to only the British Pound, the US dollar has far subdued the Naira and has left the latter currency (Naira) in a rather wide ratio gap. In Nigeria parlance, we say dem no bẹ mate at all.

Dollar to Nigerian Naira Exchange Rate Today, Live 1 USD to NGN = 384.1148 (Convert Dollars to Nigerian Naira) according to CBN, but sadly not everyone can get the Dollar at that rate. Hence leaving the Black market as a last standing option for a vast majority of people.

By black market, we are referring to sales that do not at any point have an official backing or not entirely accepted.

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At this black market evaluation, the Naira comes of at this amounts:

  • N384 – to buy $1
  • N395 – to sell $1

What this simply means is that Black-market operators would buy your Dollar at the rate of N384 per one Dollar.

And sell to you if need be  at N384 per Naira for each Dollar you need.

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While we look forward to a face lift after the general elections, it is necessary to note that the Naira has experience a steady decline in this present administration.

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