Dollar (USD) to naira black market exchange rate today 2021 Abokifx


Dollar to Naira Black Market Exchange Rate today. You can now check dollar to naira black market here.

Naira appreciated against the US dollar , to close at N412.88/$1, representing a 0.05% gain compared to N413.07/$1

The exchange rate between the naira and the US dollar closed at N412.88/$1, at the official Investors and Exporters window, 

Also the Nigerian reserves grew or recorded gains to the tune of $94.66 million, this means that the Nation’s foreign reserves stands at $35.37 billion.

Bank Exchange Rate for Dollar Today 

Guaranty Trust Bank recent rate is ₦ 461

First Bank recent rate is ₦ 460

Zenith Bank recent rate is ₦ 412.5.

UBA recent rate is ₦ 465

FCMB recent rate is ₦ 455

Sterling Bank recent rate is ₦ 460

Union Bank recent rate is ₦ 412

Wema Bank recent rate is ₦ 570

Access Bank recent rate is ₦ 450

Ecobank recent rate is ₦ 450

Standard Chartered recent rate is ₦ 461

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The Central Bank of Nigeria CBN sells dollar at 410.57 and buys At ₦ 409.57

You can get Dollars at the FX market at just 412

Right now The only exchange rate market recognize by CBN is the Investors and Exporters window, So if you want to buy or sell dollars you are expected to make use it without breaking the law.

The Central Bank of Nigeria has suspended the sale of Dollars to BDC and has asked banks to meet dollar demand of ordinary Nigerians who want to genuinely want dollars for genuine reasons. 

Let’s not forget that the CBN has condemned the act of registered money changers  who engaged in round-tripping.

Although everyone has been airing their own opinion on this matter. Expert has argued that had it been the BDC was operational things won’t have gone wrong this far.

Key Factors that Affect Foreign Exchange Rates


TERMS OF TRADE: favourable terms of trade will lead to increase in the value of Naira to dollar but unfortunately Nigeria is experiencing an imbalance terms is trade. We import everything from China, India and most of Asians countries.


RECESSION: recession is a stress on the economy. This scares investors and direct investment away from the economy. Nigeria experienced recession in 2016 and a third recession in 2020 due to fall in oil price and Covid-19 impact on world economy.


INFLATION RATES: inflation is known to have a direct impact on blackmarket exchange rate. If the Nigerian economy can be stable and inflation put under control, it will impact positively on the Naira but on the other hand if the Naira continues to nose dive down it could tell that the prices of food and other basic necessities are getting higher on daily basis.

SPECULATION: most times naira to dollar exchange rate are influenced because of speculators. They hoard money in anticipating gain and this makes naira to fall further.

INTEREST RATES: interest rates is another instrument to watch. If the rate at which bank lends money out goes up then it will reflect negatively on the economy, making the economy to contract and hence naira will suffer a fall in value.

GOVERNMENT DEBT: National debt can influence investors confidence and subsequently inflow of dollars into the economy. If inflows are high naira exchange rate will appreciate favourably to the Naira.