Dollar to Naira Black Market Exchange Rate Today 4th May 2024

The official exchange rate of the US dollar to the Nigerian naira, as of today, 4th May 2024, is ₦1,400 per US dollar. The black market offers a higher selling rate than the official market.The Naira experienced a more pronounced weakening in the parallel market, the black market. The unofficial exchange rate dropped to ₦1,380 per dollar, signifying a 1.45% decline from the ₦1,360 rate observed on.

As of last week, the Nigerian Naira was trading at a high of ₦1,165 and ₦1,330 per US dollar at the official and black markets, respectively. This raised hopes that the CBN policies were seeing some results. However, this week, the naira experienced significant fluctuations. Today, the Naira is trading at ₦1,400.40 per dollar, reflecting a 0.83% decrease compared to the previous close of ₦1,390.96 in April.

Despite the depreciation, the volume of dollar transactions on the NAFEM window witnessed a modest increase. Trading activity reached $232.84 million, representing a 3.32% rise compared to the $225.36 million recorded on Tuesday.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dollar to Naira Black Market Exchange Rate Today 29th April 2024The Naira is still showing signs of recovery against the US dollar at the parallel market, as it appreciated to ₦1300/$1 today.
Source: TODAY - 🏆 12. / 53 Read more »

Naira declines to N1,450 per Dollar in black marketA Trusted Nigerian Newspaper
Source: NigeriaNewsdesk - 🏆 10. / 63 Read more »

Dollar to Naira Black Market Exchange Rate (April 9, 2024)CBN's new policy impacts the Dollar to Naira exchange rate, with black market values dipping below official rates. Stay updated on this surprising currency shift.
Source: TODAY - 🏆 12. / 53 Read more »

Naira rebounds against the dollar at parallel market, sells for N1,300/$ TodayStay informed on the latest Dollar to Naira exchange rate! Today, the Naira rebounds to ₦1,300/$ at the parallel market.
Source: TODAY - 🏆 12. / 53 Read more »

Naira vs Dollar: Nigerian govt eyes stricter sanctions on Cryto businessesThe Nigerian government plans to impose stricter rules on cryptocurrency platforms to defeat the Naira against the dollar in the foreign exchange market. The development comes as the Director General of Nigeria Securities and Exchange, Emotomtimi Agama, will meet with local and international crypto exchanges on Monday.
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Naira slightly depreciates by 0.8% against dollar at official marketThe naira on Thursday slightly depreciated at the official market, trading at N1,402.67 to the dollar.
Source: GuardianNigeria - 🏆 1. / 94 Read more »