Dollar (USD) to Naira Black Market Rate Today January 9,2025

Dollar (USD) to Naira Black Market Rate Today January 9, 2025 Aboki

As of January 9, 2025, the Nigerian Naira (NGN) has continued to experience some level of volatility against the US Dollar (USD), while this has been the norm for decades now, this largely to some extent reflects the ongoing economic challenges.

See the Naira performance across various currencies.

A quick check at the parallel market at Abuja Zone 4 market,as at January 9, 2025 , the black market exchange rate stands firmly at approximately ₦ 1,650.00 per USD. This means if you want to buy a dollar now, it is ₦ 1,650.00 while if you want to sell it is approximately ₦ 1,660.00 .

Please be aware that the parallel market or the black market rates are mostly and notably higher compared with what you get from the official market or CBN rate.

For individuals and businesses that often or solemnly engaged in currency exchange or international trade, we have peomised to keep you all updated because staying informed about these fluctuations and daily changes is crucial for business.

Please be rest assure that our sources remain reliable and dependable as we remain committed to providing real-time data to help you make informed financial decisions in your everyday transaction.

Over the past year, the Naira has been on a free fall. This continue decline has been attributed to several factors, obe of such factors is the fluctuating oil prices which the Nigerian Government depend on, other factor are inflation, huge debt services and declining foreign exchange reserves.

The huge disparity between official market or CBN rate and the rate gotten at black market underscores the underlying complexities within Nigeria’s foreign exchange landscape.

Have you ever asked “how much is Dollar to Naira exchange rate?” in this article you will get the Dollar to Naira exchange rate for black.

The Dollar to Naira exchange rate seems not stable rather it fluctuates from time to time against the Naira, leading to the Naira losing most of its value.

This means that Nigerians are likely to spend more buying goods and services in the international market.

The Dollar/ Naira have not had a smooth ride ever since 1986, the relationship between both currency has been unpredictable leaving the economy of Nigeria poorer,

although few people has been able to capitalize on the weaknesses of the Naira to make fortune out of it.

This leaves a question if devaluation of the Naira under a flexible exchange rate will solve the problem once and for all.

In this article, we are going to trace the history of Naira exchange rate to Dollar , how it has fair under previous administration.

Nairatoday

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