Dollar to Naira black market exchange rate today is between ₦660 and ₦700 with an average of ₦674.00.
For the last 7 days, Dollar to Naira black market rate took values between ₦630 and ₦705 with an average of ₦659.64. When we compare today’s values with the last 7 days, average Dollar to Naira rate had a 14.36 points increase from ₦659.64 to ₦674.00 which corresponds to a 2.18% rise.
Similarly at the black market, Naira depreciated to N675/$1 on Tuesday, closing with a 1.5% decline compared to N665/$1 recorded in the previous trading session as FX traders lament scarcity of forex and sustained high demand. This is according to information obtained from black market FX traders.
Nigeria’s external reserves fell sharply below the $39 billion mark on Monday, 8th August 2022, dropping by 0.24% to stand at $38.95 billion from $39.05 billion recorded as of the previous day.
This is largely due to the constant intervention by the CBN in the Investors and Exporters window, to manage exchange rate volatility.