1 USD to Naira Exchange Rate for Tuesday, 25th July 2017 | The United States Dollar (USD) to Nigeria Naira (NGN) Black Market Exchange Rate Today.
- What is the current dollar to naira black market exchange rate today?
- How much is 1 dollar (USD) in naira?
- Convert dollar to naira in black market rate.
More of this keeps on hitting the search engine daily due to the fluctuation of the NAIRA. It’s axiomatic that our currency “The Naira” has drastically fallen against the United State Dollar (USD). What causes this fall? The simple truth here is that we Nigerian import more than we produce.
Let keep the grief of Naira aside. What is the Current Dollar to Naira Exchange Rate? Today being Tuesday, 25th July 2017, we present to you the Dollar to Naira Exchange Rate in Black Market (AKA Parallel Market).
1 USD TO NGN BLACK MARKET EXCHANGE RATE – Tuesday, 25th July 2017
Buying => 1 Dollar to Naira = N367
Selling => 1 Dollar to Naira =N375
The USD to NGN exchange rate today varies between the CBN exchange rate and the parallel market (black market) exchange rate. Going by the CBN exchange rate is pegged at, 1 USD = N305. But coming to parallel market (Black market), it’s a different story entirely as stated above.
As prescribed above, the dollar to naira exchange rate in the black market is not pegged as CBN rate, as such, it fluctuates daily. For this regard, this page is updated daily with the latest exchange rate for Dollar to Naira in Black Market, we advise you to Bookmark this page.
Looking at this and comparing it with about 4 years back, we would see that the Nigerian Naira had been loosing its value rapidly. What then can be done to strengthen it? It can be strengthened by reducing the demand for the dollar against the Naira in the country. This can be achieved by local production and exportation, stop the use of the USD as a legal tender as practice by some firms and other practices strengthening the dollar against the Naira in the country.