fbpx
Connect with us

Exchange Rate

How Much Is Dollar To Naira Black Market/Official Exchange Rate Today, Thursday March 22, 2024

Black market and official rate Dollar to Naira exchange rate for today Thursday, March 22, 2024…

Published

on

black market
Dollar to Naira Exchange Rate

Dollar to Nigeria Naira Exchange Rate for today Thursday, March 22, 2024 will be disclosed in it’s Black Market and Official rates respectively.

However, it is important to understand the difference between the two exchange rates – “Black Market rate and Official exchange rate” as used in the trade market.

According to Investopedia, the world’s leading source of financial content, Black Market Exchange rate is economic activity that takes place outside government-supervised channels to avoid taxes and price controls. In its simple way, Black market exchange rates are exchange rates that differ from the officially given exchange rate set by a government.

Official exchange rate is the opposite of Black market rate. It is refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market.

Advertisement

Exchange Rates

Dollar to Naira Black Market Rate

At the parallel market also know as the black market, as of today Thursday, March 22, 2024 at 05:00PM, (Abuja) Naira is being exchanged with the dollar at the rate of ₦₦1,470.00/$1 (Buying) and ₦₦1,495..00/$1 (Selling).

BuyingSelling
₦1,470.00₦1,495.00

This indicates that the Nigerian Naira 🔻fell by -3.22% (-47.58) against the US Dollar as compared to the previous closing exchange rate.

Dollar to CBN Exchange Rate

The exchange rate today for $1 (1USD) is equal to ₦1,429.03 (NGN). This is the exchange rate used by the Central Bank of Nigeria (CBN). For the basic conversion, we use the midpoint between the buy and sell rates of USD to NGN at currency exchanges across the globe.

The current exchange rate is equivalent to ₦1,429.03

Advertisement
BuyingSelling
₦1,447.89₦1,448.89

This indicates that the Nigerian Naira 🔻fell by -3.22% (-47.58) against the US Dollar as compared to the previous closing exchange rate at ₦1,476.6140.

Compare

A year ago today, on this day, the CBN equivalent of $1.00 us dollars was ₦456.89 naira, which is ₦343.09 less than it is now. Over the last 7 days, the best beneficial exchange rate was ₦788.92.

One Year AgoActual Value
₦456.89₦859.90

WhatsAppCOnnect

Stay ahead with VerseNews. Get the latest breaking news, insightful analysis, and trending stories. Your go-to source for timely updates and unbiased reporting.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WATCH: Nigeria Newspaper Headline Today

Apply For Latest Job Openings

Trending

'My Wife's Ring Can Buy 2 Or 3 Rolls Royce' - Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video) 'My Wife's Ring Can Buy 2 Or 3 Rolls Royce' - Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video)
Entertainment6 months ago

‘My Wife’s Ring Can Buy 2 Or 3 Rolls Royce’ – Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video)

Nigerian Afrobeat star Davido and his fiancée Chioma Rowland, who are set to wed on June 25th, made headlines as...

Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite
Politics6 months ago

BREAKING: Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite

The Labour Party's leadership crisis has ended as factions led by Julius Abure and Lamidi Apapa reconciled to present a...

EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon
News6 months ago

EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon

NIMC is set to launch a versatile three-in-one identity card for Nigerians, featuring payment capabilities and social service functionalities, following...

HND Holders From Polytechnics Must Undergo One-Year Mandatory Training - FG HND Holders From Polytechnics Must Undergo One-Year Mandatory Training - FG
Education6 months ago

HND Holders From Polytechnics Must Undergo One-Year Mandatory Training – FG

Dr. Folasade Yemi-Esan, Head of the Civil Service, has mandated HND holders to undergo a one-year training before promotion to...

EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer's Account EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer's Account
News6 months ago

EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer’s Account

The EFCC arrested two former Union Bank employees in Makurdi for embezzling N4.2 million from a deceased customer's account.

Christ Embassy Church Headquarters in Lagos On Fire Christ Embassy Church Headquarters in Lagos On Fire
News6 months ago

BREAKING: Christ Embassy Church Headquarters in Lagos On Fire (Video)

The Christ Embassy Church headquarters in Ikeja, Lagos caught fire on Sunday morning.

BREAKING: Finidi George Resigns As Super Eagles Head Coach BREAKING: Finidi George Resigns As Super Eagles Head Coach
Sports6 months ago

BREAKING: Finidi George Resigns As Super Eagles Head Coach

Finidi George resigns as the head coach of the Super Eagles, following the NFF's plan to hire a foreign technical...

Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day
News6 months ago

Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day (Video)

Nigerian President Bola Tinubu stumbled and fell during the June 12 Democracy Day parade, sparking renewed concerns about his health.

Democracy Day: FG Announces Date for Public Holiday Democracy Day: FG Announces Date for Public Holiday
News6 months ago

Democracy Day: FG Announces Date for Public Holiday

The Federal Government has announced June 12 as a public holiday to celebrate Democracy Day.

5 Best Video Interview Software You Should Be Using 5 Best Video Interview Software You Should Be Using
Career News6 months ago

5 Best Video Interview Software You Should Be Using

Zoom, HireVue, and Spark are some of the best video interview software. These tools enhance efficiency, improve candidate experience, and...

Advertisement