Latest Dollar to Naira Black Market Exchange Rate - 6th February 2024
Tuesday 6 February 2024
Comment
In the dynamic world of foreign exchange rates, it's imperative to stay abreast of the latest developments. As of today, 6th February 2024, the black market (parallel market) exchange rate for the Dollar to Naira has witnessed fluctuations, serving as a significant player in the forex market despite the Central Bank of Nigeria's (CBN) discouragement.
The black market exchange rate for the Dollar to Naira on 6th February 2024 stands at a buying rate of N1,450 and a selling rate of N1,460. These rates, however, are not officially recognized by the CBN and are subject to change based on market dynamics. CONTINUE READING.....
In contrast to the official CBN rates, the black market provides an alternative avenue for individuals and businesses to exchange currencies, although the CBN consistently advises against such engagements. The official rates and those of the black market often differ, and the CBN encourages the use of regulated channels like banks for forex transactions.
On the preceding 5th February 2024, the black market rates were recorded at N1,410 for buying and N1,420 for selling, indicating a slight increase in exchange rates within a day.
Various factors contribute to the fluctuations in black market exchange rates, including market demand, supply, and external economic influences. Staying informed about these changes is essential for individuals involved in forex transactions. CONTINUE READING.....
Advertisment:
*Bz Data Sell:* Is Mobile app to buy Mobile data, Airtime, Nepa bills, TV subscription & data pins.
*We offer instant recharge of Airtime, Data bundle, CableTV (DStv, GOtv & Startimes), Electricity Bill Payment, Recharge Card Print and more.*
Install our App *Bz Data Sell* on Play store.đ
Readers should be aware that forex rates can differ among market players, and the rates presented here may not be reflective of real-time market conditions. TheCentral.ng does not set or determine forex rates, and individuals are encouraged to exercise caution and conduct thorough research before engaging in any forex transactions.
As the forex market continues to evolve, individuals and businesses must remain vigilant and stay informed about the latest exchange rates. While the parallel market serves as an alternative for currency exchange, it is crucial to comply with CBN guidelines and consider the potential risks associated with black market transactions.
By providing accurate and up-to-date information, this article aims to empower readers to navigate the forex landscape more effectively, making informed decisions for their financial activities.
Advertisment:
*Bz Data Sell:* Is Mobile app to buy Mobile data, Airtime, Nepa bills, TV subscription & data pins.
*We offer instant recharge of Airtime, Data bundle, CableTV (DStv, GOtv & Startimes), Electricity Bill Payment, Recharge Card Print and more.*
Install our App *Bz Data Sell* on Play store.đ
https://play.google.com/store/apps/details?id=bz.datasell
Join Our Whatsapp Group đ
Our WhatsApp Channel đ
Our Facebook Page đ
Our Android App đ
0 Response to "Latest Dollar to Naira Black Market Exchange Rate - 6th February 2024"
Post a Comment
Tell us what you think about this article?