How much is the Dollar to Naira exchange rate on the black market today, 21st June 2022? Convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent black market or parallel market rate.
Nigerians prefer to exchange foreign currency, particularly dollars to Naira, on the black market since the conversion rate is much higher than what the bank offers.
You can discover all the facts and the current rate for dollar to Naira on queenamawo.ng, both the CBN and the black market rate.
Dollar to Naira Black Market Rate Today, 21st June 2022
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
Factors Influencing Foreign Exchange Rates
Here are some of the causes of the dwindling dollar to naira exchange rate.
Inflation Rates: It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is brought under control, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.