1. Dollar to Naira Black Market Rate

Dollar to Naira Black Market Rate at the exchange rate between the US dollar and the Nigerian naira as of August 30, 2023, in the black market. Keep in mind that depending on the supply and demand of dollars in the market, this rate may change every hour. Therefore, be sure to stay informed! http://BassNet.com.ng

Dollar to Naira 30 August 2023 Black Market Rate

The current dollar-to-naira exchange rate at the Lagos Parallel Market, commonly known as the Black Market, is fixed at N915 for buying and N920 for selling, according to Bureau De Change (BDC) sources on August 30, 2023.

Dollars to Naira Black Market 30 August 2023 – Handy Conversion Data Table

Naira to Dollar Black Market 30 August 2023 – Handy Conversion Data Table

Dollar to Naira Rates News 30/08/2023

Mixed Results for the Naira in the Currency Market

Dollar to Naira Black Market Rate the foreign exchange market, the Nigerian Naira had a somewhat mixed day. In the Investors and Exporters section of the foreign currency market, it was able to gain strength against the US Dollar by about 0.81%, translating to an increase of N6.30 and raising its value to N772.12/$1. When compared to its value at the end of the previous week, which was N778.42/$1, this improvement was noted.

Dollar to Naira Black Market Rate to this, the Naira appreciated in the official market. It traded at N973.09/£1, showing a gain of N3.67 against the British pound. Additionally, the Naira strengthened by N1.25 against the Euro, reaching N835.73/€1. Despite the difficulties of decreased external reserves and incoming foreign exchange, these value increases took place.

In contrast, the news wasn’t as good in several market segments. The value of foreign exchange traders’ activity at the spot market decreased to $40.21 million, according to data from the FMDQ Securities Exchange. This was a huge decline of 45.5% from the achievement of $73.80 million during the previous trading session.

The Naira can now float more freely against other currencies thanks to recent adjustments made to the exchange rate system by the Central Bank of Nigeria (CBN). Despite this action, the nation’s external reserves, which were at $33.74 billion after two months, have dropped by about 2.7% (or $915 million). In contrast, the amount reported on June 14, 2023, was $34.66 billion.

The Dollar to Naira Black Market Rate dropped N10 in value against the US dollar on the black market, where it was trading at N915 to $1 as a result of the decline in foreign exchange reserves. This was in contrast to the previous trading session’s exchange rate of N905 to $1.

Exchange rate today

Similar events transpired in the peer-to-peer (P2P) sector, where the Naira’s value versus the dollar fell by N13 and reached N928/$1, up from N915/$1 in the previous session.

When the focus shifted to the cryptocurrency sector, it had trouble winning over investors. Bitcoin’s (BTC) value dropped by 0.1%, trading for $26,040.32 now. Following suit, Ethereum (ETH) dropped 0.1% to end up at $1,649.54. Other significant cryptocurrencies had slight drops in value as well, including Solana (SOL), Ripple (XRP), and US Dollar Tether (USDT).

Cardano (ADA) managed to increase by 1.5% and is now trading at $0.2648, while Dogecoin (DOGE) increased by 1.1% and is now trading at $0.0632. Binance Coin (BNB) grew marginally by 0.1% to trade at $217.96, while Litecoin (LTC) increased by 0.8% to reach $65.28. Binance USD (BUSD) was unchanged at $1.

In Dollar to Naira Black Market Rate , the Naira’s performance in the currency market was a mixed bag of gains and losses, and the cryptocurrency market had trouble luring investors back.10 Ways to Earn Up to ₦250,000 a Day Using ChatGPT

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