Latest US Dollar To Naira Black Market Rates Today, 27 July 2022
Dollar to naira exchange rate today
What is the Dollar to Naira Exchange rate at, offical CBN rate, aboki fx and the black market. How much is the Dollar to Naira exchange rate today, 27th July 2022? You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent, official CBN rate, black market or parallel market rate.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today on July 26th, 2022, for $1 dollar to naira = ₦427.30/$1.
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According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦427.30/$1 on Tuesday 26th July, and closed at ₦431.00 to a $1.
US Dollar to Naira Black Market Rate Today, 27 July 2022
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
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Buying Rate 600
Selling Rate 670
According to reports, with the further scarcity of forex in the market, the exchange rate at the peer-to-peer market depreciated significantly to a record low of N667/$1 in the early hours of Tuesday, representing a 1.72% decline compared to N655.73/$1 recorded on Monday morning. This is the highest rate recorded in the unofficial market.
The US dollar to naira exchange rate changes hourly. The exchange rate fluctuates depending on the volume of dollars available and demand for it. This means the exchange rate you buy and sell the dollar could be different hours later (high or low).
Factors that could Influence Foreign Exchange Rates in Nigeria
Conditions of Trade
Speculators
Government Debt
Interest Rates
Inflation Rates
Meanwhile, Nigeria’s external reserves recorded its fourth consecutive decline last Friday according to nairametrics, dropping by 0.05% to stand at $39.39 billion from $39.41 billion recorded as of Thursday, 21st July 2022. The decline in the country’s external reserve could be attributed to the increased flow of FX in the official market in the past two days.
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