• About Us
  • Advertise with Us
  • Contact Us
Monday, December 11, 2023
GoldenNewsNG
No Result
View All Result
  • Home
  • News
    CBN Suspends Processing Fees on Large Cash Deposits Until April 2024

    CBN Suspends Processing Fees on Large Cash Deposits Until April 2024

    10 Biggest Political Losers In Nigeria 2023

    10 Biggest Political Losers In Nigeria 2023

    Dollar to Naira Black Market Exchange Rate Today 11th December 2023

    Dollar to Naira Black Market Exchange Rate Today 11th December 2023

    Breaking News: Naira Falls Massively in Official Market & Black Market Ahead of Christmas

    Breaking News: Naira Falls Massively in Official Market & Black Market Ahead of Christmas

    Dollar to Naira Black Market Exchange Rate Today 9th December 2023

    Dollar to Naira Black Market Exchange Rate Today 9th December 2023

    NYSC Reveals POP Date For 2023 Batch A Stream 2 Corps Members

    NYSC Reveals POP Date For 2023 Batch A Stream 2 Corps Members

    Trending Tags

    • Commentary
    • featured
    • Event
    • Editorial
  • Npower
  • Jobs
  • NYSC Info
  • Education
  • Business
  • Entertainment
  • Sports
  • Technology
  • Home
  • News
    CBN Suspends Processing Fees on Large Cash Deposits Until April 2024

    CBN Suspends Processing Fees on Large Cash Deposits Until April 2024

    10 Biggest Political Losers In Nigeria 2023

    10 Biggest Political Losers In Nigeria 2023

    Dollar to Naira Black Market Exchange Rate Today 11th December 2023

    Dollar to Naira Black Market Exchange Rate Today 11th December 2023

    Breaking News: Naira Falls Massively in Official Market & Black Market Ahead of Christmas

    Breaking News: Naira Falls Massively in Official Market & Black Market Ahead of Christmas

    Dollar to Naira Black Market Exchange Rate Today 9th December 2023

    Dollar to Naira Black Market Exchange Rate Today 9th December 2023

    NYSC Reveals POP Date For 2023 Batch A Stream 2 Corps Members

    NYSC Reveals POP Date For 2023 Batch A Stream 2 Corps Members

    Trending Tags

    • Commentary
    • featured
    • Event
    • Editorial
  • Npower
  • Jobs
  • NYSC Info
  • Education
  • Business
  • Entertainment
  • Sports
  • Technology
No Result
View All Result
Golden News
No Result
View All Result
  • Home
  • News
  • Npower
  • Jobs
  • NYSC Info
  • Education
  • Business
  • Entertainment
  • Sports
  • Technology
Home business

How Much is Dollar to Naira Today 3rd December 2022

Rojon by Rojon
December 3, 2022
in business, Headline
Reading Time: 3 mins read
Dollar to Naira Black Market Exchange Rate Today 4th September 2023 (Aboki FX)
4
SHARES
FacebookShareTwitterShareWhatsappShareTelegramShare

How much is the Dollar to Naira Exchange rate at aboki fx and the black market today, 3rd December 2022? See today’s Dollar to Naira exchange rate at the parallel market. 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 the bank offers.

READ ALSO

CBN Suspends Processing Fees on Large Cash Deposits Until April 2024

Presidential Palliative Grant & Loan Open – Apply Today @ www.fedgrantandloan.gov.ng!

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.

How Much is Dollar to Naira and the official Exchange Rate today, 3rd December 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, 3rd December 2022

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate 750
Buying Rate 740

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 brought under control, 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.

Related Posts

CBN Suspends Processing Fees on Large Cash Deposits Until April 2024
business

CBN Suspends Processing Fees on Large Cash Deposits Until April 2024

Good News: FG Opens Portal For Presidential Palliative Program Grant and Loan For Nigeria SMEs (N50,000.00 Grant to 1million Businesses and 75bn loans)
LOAN & INVESTMENT

Presidential Palliative Grant & Loan Open – Apply Today @ www.fedgrantandloan.gov.ng!

Call for Applications: Web3 Business Grant Program
General Information

Call for Applications: Web3 Business Grant Program

Call for Applications: Web3 Business Grant Program
General Information

How to Apply for Flourish Africa Grant – Guidelines

10 Biggest Political Losers In Nigeria 2023
Politics

10 Biggest Political Losers In Nigeria 2023

Dollar to Naira Black Market Exchange Rate Today 11th December 2023
business

Dollar to Naira Black Market Exchange Rate Today 11th December 2023

Next Post
Federal Government National Startup Investment Fund 2022 – Apply Now

Federal Government National Startup Investment Fund 2022 – Apply Now

Leave a ReplyCancel reply

JUST IN

CBN Suspends Processing Fees on Large Cash Deposits Until April 2024

CBN Suspends Processing Fees on Large Cash Deposits Until April 2024

Good News: FG Opens Portal For Presidential Palliative Program Grant and Loan For Nigeria SMEs (N50,000.00 Grant to 1million Businesses and 75bn loans)

Presidential Palliative Grant & Loan Open – Apply Today @ www.fedgrantandloan.gov.ng!

How Do I Start my own Blog and Make Money in Nigeria?

How Do I Start my own Blog and Make Money in Nigeria?

How much Does GTB Charge for Dollar Card?

How much Does GTB Charge for Dollar Card?

Call for Applications: Web3 Business Grant Program

Call for Applications: Web3 Business Grant Program

Call for Applications: Web3 Business Grant Program

How to Apply for Flourish Africa Grant – Guidelines

10 Biggest Political Losers In Nigeria 2023

10 Biggest Political Losers In Nigeria 2023

Dollar to Naira Black Market Exchange Rate Today 11th December 2023

Dollar to Naira Black Market Exchange Rate Today 11th December 2023

NPower Payment Update Today 11th December 2023

NPower Payment Update Today 11th December 2023

Top 15 Private Universities in Nigeria and Their Tuition Fees

Top 15 Private Universities in Nigeria and Their Tuition Fees

Follow us

Categories

  • Biafra
  • Big brother Titans
  • business
  • Crime
  • Education
  • Entertainment
  • Featured
  • General Information
  • Headline
  • Health
  • Insurance
  • Jamb & All Education News
  • Jobs
  • Lifestyle
  • LOAN & INVESTMENT
  • News
  • Npower
  • NYSC
  • Opinion
  • Politics
  • Relationship
  • Scholarship/ Opportunities
  • SPONSORED POST / GUEST POST
  • Sports
  • Technology
  • Tour
  • World News

Recent Posts

  • CBN Suspends Processing Fees on Large Cash Deposits Until April 2024
  • Presidential Palliative Grant & Loan Open – Apply Today @ www.fedgrantandloan.gov.ng!
  • How Do I Start my own Blog and Make Money in Nigeria?
  • How much Does GTB Charge for Dollar Card?
  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions

© 2022 Golden News

No Result
View All Result
  • Home
  • News
  • Npower
  • Jobs
  • NYSC Info
  • Education
  • Business
  • Entertainment
  • Sports
  • Technology

© 2022 Golden News

YOU WANT LATEST UPDATES?

JOIN OUR TELEGRAM CHANNEL NOW
X