Current Black Market Exchange Rates: Dollar to Naira on July 14, 2023

Key Points:

• Today’s black market exchange rate for the Dollar to Naira.
• Comparison with the previous day’s exchange rate.
• The Central Bank of Nigeria (CBN)’s official exchange rate.

Welcome to a trusted place where you can find news about money.

This article will give you the latest information about the secret market rate for exchanging US Dollars (USD) and Nigerian Naira (NGN).

Stay updated and make smart choices about changing your money.

Black Market Exchange Rate Today

On July 14, 2023, the Nigerian Naira was trading at N795.00 per $1 in the parallel market, commonly known as the black market.

This means if you’re looking to exchange US Dollars for Nigerian Naira in the black market, you can expect to receive N795 for each dollar you exchange.

Exchange Rate Table – July 14, 2023

Review of the Previous Day’s Market Performance

To understand market trends, we need to look at the previous day’s performance.

On July 12, 2023, the black market saw the US Dollar being bought at N786 and sold at N790.

This info provides a glimpse into the recent price movements and helps assess the current market situation.

Current Official Exchange Rate Set by the CBN

Let’s also look at the official exchange rate set by the Central Bank of Nigeria (CBN) as of July 14, 2023.

The CBN’s buying and selling rate for the Dollar to Naira stands at N776.90.

These rates are set by the central bank and are usually different from the rates seen in the black market.

Disclaimer: We aim to provide accurate and up-to-date information to our readers, but we don’t set or determine forex rates.

Exchange Rates for Other Major Currencies

It’s important to stay informed about the exchange rates for other key currencies.

Below are the exchange rates for the British Pound (GBP) and the Euro (EUR) against the Nigerian Naira (NGN) as of July 14, 2023:

Frequently Asked Questions (FAQs)

1. What is today’s black market exchange rate for the Dollar to Naira?

   The buying rate is N790, and the selling rate is N795.

2. What is the CBN’s official exchange rate for Dollar to Naira today?

   The CBN’s buying and selling rate for the Dollar to Naira stands at N776.90.

3. Where can I find the official NAFEX rates?

   You can get the official NAFEX rates from the FMDQOTC website, as they are the official source for such rates.

4. What are the exchange rates for other currencies like the British Pound and Euro against the Naira on July 13, 2023?

   The selling rate for the Pound Sterling is N1030, with a buying rate of N1010. The Euro has a selling rate of N850 and a buying rate of N840.

Keep checking back for the most recent updates on currency exchange rates in Nigeria. Please remember that exchange rates can change throughout the day. Always verify the rates before making any currency exchange transactions