Other effects of a rising black dollar and falling naira is on Nigerian stock markets, SMEs collapsing on the long run etc.
50 17,900 Naira.1.) Importation Fall in the value dollar of Naira is an market unfavorable circumstance for the importers.CBN/Official Exchange Rate of Dollar 2 Naira Today: Buying N305.75, Selling N306.75.So the rate they buy and sell dollar in exchange for naira is called black market rate.Investors from foreign countries look for stable countries with strong economic performance to invest their capital.You have currently selected the base currency.By using Twitters services you market agree to our.It is how much Nigerian banks will charge your naira master or visa card when you use it to purchase something on foreign sites that operates in dollar.United States dollar - Nigerian naira rate, the Markets Insider currency calculator also offers other exchange rates for about 160 international currencies.Additionally, the currency calculator shows the closing rate of the previous day as well as the highest and lowest rates of the conversion.As at the time of writing this article, 1 dollar 362 Naira.5000 1,790,000 Naira.Further Information US-Dollar - Nigerian Naira.Convert 100 (usd 500 dollars, 1000, 1 Dollar (US) to naira today easily.How does that happen and affect Nigerians?Looking back at the dollar naira exchange rate history, it shows the NGN has not been doing great. 1.) Political Instability Nigerias current political instability caused by crisis among political parties, Terrorism black in the Northern part of the country, extremely low daily power supply etc are driving away foreign investors.
Currency Table USD / NGN.