Dollar to naira black market exchange rate today 2021 Abokifx can be accessed below:

Dollar to Naira Black Market Exchange Rate today. You can now check dollar to naira black market here on GoldenNewsNg.

While Guaranty Trust Bank recent rate is ₦ 461

First Bank recent rate is ₦ 460

Zenith Bank recent rate is ₦ 412.5.

UBA recent rate is ₦ 465

FCMB recent rate is ₦ 455

Sterling Bank recent rate is ₦ 460

Union Bank recent rate is ₦ 412

Wema Bank recent rate is ₦ 570

Access Bank recent rate is ₦ 450

Ecobank recent rate is ₦ 450

Standard Chartered recent rate is ₦ 461

The Central Bank of Nigeria CBN sells dollar at 410.57 and buys At ₦ 409.57

You can get Dollars at the FX market at just 411.3.

Guaranty Trust Bank table rate 

Rate for Dollar to Naira exchange rate,

Abokifx exchange rate in Nigeria today black market,

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Exchange Rate of Dollar To Naira in Black Market Today?

The Nigeria black market dollar exchange rate today to the Nigerian Naira is as follows:

LAGOS PARALLEL MARKET RATES Today  (BLACK MARKET)

Quotes:* morning**midday***evening

The local currency opened at N570.00 per $1 at the parallel market otherwise known as the black market, today, Sunday, 19 September 2021, in Lagos Nigeria after it closed N570.00 per $1 on Saturday, 18 September 2021. This represents a change of $0 from the previous day.

GoldenNewsNg reports that the black market, the players buy a dollar for N560 and sell for N570 on Sunday morning, September 19, 2021.

Meanwhile, GoldenNewsNg reports that the USD started this week at ₦549 in Parallel Market also known as Black Market on Monday, September 13, 2021

. A change of $17 dollars compared to last Monday when it opened at ₦532 per dollar.

Key Factors that Affect Foreign Exchange Rates

Here are factors we have identified that make naira or exchange rate to fluctuate.

INFLATION RATES: inflation is known to have a direct impact on blackmarket exchange rate. If the Nigerian economy can be stable and inflation put under control, it will impact positively on the Naira but on the other hand if the Naira continues to nose dive down it could tell that the prices of food and other basic necessities are getting higher on daily basis.

INTEREST RATES: interest rates is another instrument to watch. If the rate at which bank lends money out goes up then it will reflect negatively on the economy, making the economy to contract and hence naira will suffer a fall in value.

GOVERNMENT DEBT: National debt can influence investors confidence and subsequently inflow of dollars into the economy. If inflows are high naira exchange rate will appreciate favourably to the Naira.

SPECULATION: most times naira to dollar exchange rate are influenced because of speculators. They hoard money in anticipating gain and this makes naira to fall further.

TERMS OF TRADE: favourable terms of trade will lead to increase in the value of Naira to dollar but unfortunately Nigeria is experiencing an imbalance terms is trade. We import everything from China, India and most of Asians countries.

RECESSION: recession is a stress on the economy. This scares investors and direct investment away from the economy. Nigeria experienced recession in 2016 and a third recession in 2020 due to fall in oil price and Covid-19 impact on world economy.

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