Economy

SEE Black Market Dollar To Naira Exchange Rate Today, 13th April 2024

Published

8 months ago

April 13, 2024

Curious about the current exchange rate between the Dollar and Naira on the black market? Also referred to as the parallel market or Aboki FX, here’s what you need to know for 13th April 2024

Wondering about today’s Dollar to Naira exchange rate on the black market? Check out the figures for 12th April below. These are the rates at which you can trade your dollar for Naira.

What’s the Dollar to Naira rate in the black market today? Here’s the latest:

At the Lagos Parallel Market (Black Market), traders were buying a dollar for N1130 and selling at N1150 on Friday, 12th April 2024, according to sources from Bureau De Change (BDC).

Remember, the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market). It advises individuals engaging in Forex transactions to go through their respective banks.

Black Market Dollar to Naira Exchange Rate Today:

Buying Rate: N1130
Selling Rate: N1150
Please keep in mind that actual Forex rates may differ from those mentioned here as prices are subject to change.

Economy

Breaking: CBN jacks up Interest Rate To 27.5 Per Cent

Published

9 hours ago

November 26, 2024

Naijablitznews

The Central Bank of Nigeria, CBN has increased interest rate to 27%.

This followed the meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). The monetary policy rate measures the benchmark interest rate.

The CBN governor Yemi Cardoso announced this in Abuja on Tuesday during the last MPC meeting of the year at the apex bank’s headquarters.

Cardoso said the MPC voted unanimously to raise the MPR by 25 basis points from 27.25% to 27.50%; and retain the Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks.

The CBN chief also said the MPC retained the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500/-100 basis points around the MPR.

Economy

CBN raises interest rate to 27.5%

Published

14 hours ago

November 26, 2024

Naijablitznews

By Francesca Hangeior

The Monetary Policy Committee of the Central Bank of Nigeria has raised the country’s interest rate by 25 basis points to 27.50 per cent in November from 27.25 per cent in September 2024.

The Governor of CBN, Olayemi Cardoso, disclosed this during a press briefing on Tuesday after the 298th MPC meeting in Abuja.

“The Committee was unanimous in its agreement to raise the monetary policy rate by 25 basis points to 27.50 per cent,” he said.

Cardoso noted that the decision to raise the country’s Monetary Policy Rate is to tackle inflation, which stood at 33.87 per cent in October 2024.

He also announced that the Cash Reserve Ratio was retained at 50 basis points, from 45 per cent to 50 per cent for deposit money banks and from 14 per cent to 16 per cent for merchant banks.

Economy

Naira depreciates to N1,770/$ in parallel market

Published

18 hours ago

November 26, 2024

Naijablitznews

The Naira on Monday depreciated to N1,770 per dollar in the parallel market from N1,750 per dollar last weekend.

Similarly, the Naira depreciated to N1,675.62 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,675.62 per dollar from N1,652.62 per dollar last weekend, indicating N23 depreciation for the naira.

The volume of dollars traded (turnover) fell by 55.2 percent to $108.79 million from $243.05 million traded last week Friday.

Consequently, the margin between the parallel market and NAFEM rate widened to N117.38 per dollar from N97.38 per dollar last weekend.