GoldenNewsNG
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
No Result
View All Result
Golden News
No Result
View All Result

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 21st November 2022

On this page, you can discover all the facts and the current rate for dollar to Naira, both the CBN and the black market rate.

Rojon by Rojon
January 11, 2024
in business, Headline
Reading Time: 3 mins read
Dollar to Naira Black Market Exchange Rate Today 4th September 2023 (Aboki FX)
39
SHARES
Advertisements

The dollar to Naira Exchange rate at the black/parallel market today, 21st November 2022. The rate is between ₦775 and ₦785. See today’s Dollar to Naira exchange rate. You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent black market or parallel market rate.

Nigerians prefer to exchange foreign currency, particularly dollar to Naira, on the black market since the conversion rate is much higher than what the bank offers.

READ ALSO

International Widows Day: Treat widows with dignity, they’re not properties to be shared- CAN Chairman blows hot

Call For Applications: NNPC – RENAISSANCE JV University Scholarship For Nigerians

 

On this page, you can discover all the facts and the current rate for dollar to Naira, both the CBN and the black market rate.

Black Market table rate 

1785
53925
107850
1511775
2015700
2519625
3023550
4031400
5039250
10078500
150117750
200157000
250196250
300235500
350274750
500392500
750588750
1000785000
15001177500
20001570000
50003925000
100007850000

How Much is Dollar to Naira and the official Exchange Rate today, 21st November 2022?

Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has recommended individuals interested in Forex contact their respective banks before proceeding.

The parallel exchange rate (black market rate) always differs from the CBN rate. The exchange rate between the US dollar and the Nigerian Naira significantly impacts the Nigerian economy.

As the Naira falls in value, inflation takes over the economy, which usually impacts the inhabitants. The Central Bank has stated that the Nigerian economy needs a significant turnaround and has asked Nigerians to work toward this goal, such as increasing exports.

The black market rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website, cbn.gov.ng.

The dollar to naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. These rates are almost always cheaper than those available on the black/parallel market.

 

Dollar to Naira Black Market Rate Today, 21st November 2022

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Selling Rate785
Buying Rate780

Factors Influencing Foreign Exchange Rates

Here are some of the causes of the dwindling dollar to naira exchange rate.

Inflation Rates: It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is controlled, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.

Interest Rates: Another tool to keep an eye on is interest rates. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall.

Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. If inflows are high, the naira exchange rate will rise in favour of the naira.

Speculators: Speculators frequently impact the naira-to-dollar exchange rate. They stockpile money in anticipation of a gain, causing the naira to plummet even lower.

Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. Everything comes from China, India, and the majority of Asian countries.

 

Disclaimer: GoldenNewsNg does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article

📢 JOIN OUR WHATSAPP GROUP 📢 JOIN OUR TELEGRAM CHANNEL
Previous Post

Complete List of NPower Work Nation Support Phone Numbers

Next Post

How Much is Dollar to Naira Today Monday 21st November 2022

Related Posts

International Widows Day: Treat widows with dignity, they’re not properties to be shared- CAN Chairman blows hot

Deputy Chairman, CAN, Rev. Joshua Marcus presenting items to FOMWAN, Women in Dawah ... As WOWICAN donates items to about...

Read moreDetails

Call For Applications: NNPC – RENAISSANCE JV University Scholarship For Nigerians

RENAISSANCE JV University Scholarship for Nigerians

The RENAISSANCE African Energy Company, in collaboration with the NNPC/RENAISSANCE/TotalEnergies/AENR Joint Venture (RENAISSANCE JV), has officially launched the 2025 RENAISSANCE...

Read moreDetails

Naira falls to N2,200 

Naira

Naira falls to N2,200  The Nigerian naira has weakened to N2,200 per British pound in the unofficial market, reflecting increased...

Read moreDetails

Nigerian Army College of Nursing Admission Form 2025/2026 is Out – Full Application Guide

Apply: Nigerian Army CoN ND/HND, Community Nursing Admission for 2025/26

The Nigerian Army College of Nursing (NACON), located in Yaba, Lagos State, has officially opened its admission process for the...

Read moreDetails

Federal Government TVET Program for Trainers (₦30,000 Support) – Application Guide

Federal Government TVET Program for Trainers (₦30,000 Support) – Application Guide

Federal Government TVET Program for Trainers (₦30,000 Support) – Application Guide The Federal Government is taking the TVET Initiative a...

Read moreDetails

Direct Link to Apply for FG NPRGS Initiative Poverty Reduction Program

Apply for FG NPRGS Initiative Poverty Reduction Program

If you've been looking for a solid opportunity to upgrade your skills, earn a living, and break free from poverty,...

Read moreDetails

Direct Link to Apply For FG YouthCred Financial Empowerment 2025

YouthCred Financial Empowerment 2025

The Direct Link to Apply for FG YouthCred Financial Empowerment 2025 can be accessed below..   If you're a young...

Read moreDetails

Direct Link to Apply for FG Consumer Credit Scheme CrediCorp Loan 2025

Direct Link to Apply for FG Consumer Credit Scheme CrediCorp Loan 2025

The Federal Government of Nigeria has officially launched the Consumer Credit Scheme under the Nigeria Consumer Credit Corporation (CrediCorp) to...

Read moreDetails

FG to Empower 400,000 Youth with Consumer Credit from July 2025 – Here’s What You Should Know

FG to Empower 400,000 Youth with Consumer Credit from July 2025 – Here’s What You Should Know

The Federal Government has announced plans to launch a new youth-focused consumer credit scheme that will empower over 400,000 young...

Read moreDetails

NSCDC, Immigration, Fire & Prisons Recruitment 2025: Portal, Requirements & How to Apply

NSCDC, Immigration, Fire & Prisons Service Recruitment Portal 2025

The Federal Government is set to begin another round of recruitment into some of its key paramilitary agencies. These include...

Read moreDetails
Load More
Next Post
How Much is Dollar to Naira Today Monday 21st November 2022

How Much is Dollar to Naira Today Monday 21st November 2022

SEARCH ADS

Latest Posts

Headline

International Widows Day: Treat widows with dignity, they’re not properties to be shared- CAN Chairman blows hot

Empowering Women, Honoring Elders: Precious Chinweani’s Bold Vision for an Inclusive Africa.
Npower

Empowering Women, Honoring Elders: Precious Chinweani’s Bold Vision for an Inclusive Africa.

RENAISSANCE JV University Scholarship for Nigerians
Education

Call For Applications: NNPC – RENAISSANCE JV University Scholarship For Nigerians

JAMB Fixes Mop-Up Exam for 2025
Education

JAMB Fixes Mop-Up Exam for 2025: Over 96,000 Candidates to Participate — See Details

Naira
Headline

Naira falls to N2,200 

Apply: Nigerian Army CoN ND/HND, Community Nursing Admission for 2025/26
Education

Nigerian Army College of Nursing Admission Form 2025/2026 is Out – Full Application Guide

Federal Government TVET Program for Trainers (₦30,000 Support) – Application Guide
Jobs

Federal Government TVET Program for Trainers (₦30,000 Support) – Application Guide

Apply for FG NPRGS Initiative Poverty Reduction Program
Headline

Direct Link to Apply for FG NPRGS Initiative Poverty Reduction Program

YouthCred Financial Empowerment 2025
Headline

Direct Link to Apply For FG YouthCred Financial Empowerment 2025

News

Gov Bago celebrates Vatsa @64

© 2024 Golden News

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions
No Result
View All Result
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us

© 2024 Golden News