Dollar To Naira Exchange Rate (USD/NGN) Rate For Today November 21, 2022

0
Dollar To Naira Exchange Rate (USD/NGN) Rate
What Is A Currency Pair And How Does It Work
Brand Spur Nigeria has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

How Much is Dollar to Naira and the official Exchange Rate today, 21st November 2022?

Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has recommended individuals interested in Forex contact their respective banks before proceeding.

The parallel exchange rate (black market rate) always differs from the CBN rate. The exchange rate between the US dollar and the Nigerian Naira significantly impacts the Nigerian economy.
As the Naira falls in value, inflation takes over the economy, which usually impacts the inhabitants. The Central Bank has stated that the Nigerian economy needs a significant turnaround and has asked Nigerians to work toward this goal, such as increasing exports.

The black market rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website, cbn.gov.ng.

Read Also:  Nigeria rate cut: FX stability and sluggish growth trump sticky inflation

The dollar to naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. These rates are almost always cheaper than those available on the black/parallel market.

Dollar to Naira Black Market Rate Today, 21st November 2022

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate 785
Buying Rate 780