As at the end of March 2021, the exchange rate of Dollar to Naira in the Nigerian black market stood at N486. However, the rate of Dollar to Naira is no longer N486 but now N485 as at today, 2 April, 2021.
In the black market today, the sellers sell at N485 and buyers buy at N478. Below is a simple analysis of the amount of Naira you will get given this Dollar rates in the Nigerian black market.
$1 - N485
$10 - N4,850
$100 - N48,500
$1000 - N485,000
$10000 - N4,850,000
In the last 30 days, the highest rate so far in the Nigerian black market was at N486 on 31 March, 2021 and the lowest rate so far in the Nigerian black market was at N480 on 5 March, 2021.
In the foreign market, where the rate of Dollar to Naira is traded officially, the exchange rate stood at N381.50 as at 31 March, 2021. However, the new rate of Dollar to Naira today, 2 April, 2021 is N381. This means that for every dollar you have in the foreign market, you have N381. Below is a simple analysis;
$1 - N381
$10 - N3,810
$100 - N38,100
$1000 - N381,000
$10000 - N3,810,000
Although, the Federal Government of Nigeria has promised that the rate of Dollar to Naira will be equal. Do you think this plan and goal is achievable? Share your thoughts in the comment section below and share this article with your friends and family.
Source: NGN Rates.
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