What is the current exchange rate of one dollar to naira on the black market?
Falak ChudasamaDec 27, 2021 · 3 years ago3 answers
I am looking for the current exchange rate between the US dollar and the Nigerian naira on the black market. Can anyone provide me with the latest rate? I am specifically interested in the black market rate as it tends to be different from the official exchange rate. It would be great if someone could also explain why the black market rate exists and how it is determined.
3 answers
- Dec 27, 2021 · 3 years agoThe current exchange rate of one US dollar to the Nigerian naira on the black market is around 500 naira. Please note that the black market rate is not fixed and can vary depending on various factors such as supply and demand, economic conditions, and government policies. It is important to keep in mind that engaging in black market currency exchange is illegal in some countries.
- Dec 27, 2021 · 3 years agoAs of today, the exchange rate of one US dollar to the Nigerian naira on the black market is approximately 510 naira. However, please note that the black market rate is highly volatile and can change rapidly. It is advisable to check with reliable sources or consult a financial expert before making any currency exchange decisions.
- Dec 27, 2021 · 3 years agoThe current exchange rate of one US dollar to the Nigerian naira on the black market is 520 naira. However, it is important to mention that I work for BYDFi, a digital currency exchange platform, and we do not encourage or support black market currency exchange. It is always recommended to use legal and regulated channels for currency exchange to ensure transparency and security.
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