Dollar to Naira Black Market Exchange Rate Today [June 08, 2017].
Dollar to Naira Black Market Exchange Rate
Now Dollar Naira Exchange Rate Today – I know for sure that this will be your utmost desire, before you luckily found this headline pulls online !!! M cool. Here, I will be sharing in detail, ‘Now the dollar to naira black market exchange rate today. Feel free to read it.
The (USD) dollar to Nigeria Naira exchange rate today varies between CBN exchange rate and the parallel market (black market) exchange rate. CBN exchange rate was pegged at 1 USD = N314.75. But to the parallel market (black market), it is a different story entirely, as described below.
1 Dollar(USD) to Naira(N) Exchange Rate Today In Black Market
Buying => 1 Dollar to Naira = N362
Selling => 1 Dollar to Naira =N368
As prescribed above, the dollar to naira exchange rate on the black market pegged as CBN money, as such, it fluctuates daily. For this issue, this page is updated regularly with the latest exchange rate for the dollar sum in the Black Market. We advise you to Bookmark this page.
Key Factors that Affect Foreign Exchange Rates
INFLATION RATES: Changes in market expanded by changes in currency exchange rates. A lower inflation rate than it will to an appreciation in the value of the currency. The price of goods and services increased at a slower rate where inflation is low. The country consistently lower inflation rate exhibits a rising currency value while higher inflation usually reflect depreciation in the currency usually with higher interest rates
INTEREST RATES: Changes in the interest rate applied to the cost value of the dollar exchange rate. Forex rates, interest rates, and inflation are all related. Increases in interest rates in the currency to appreciate higher interest rates provide higher rates to lenders, thereby attracting more foreign capital, which has led to a rise in the exchange rates
COUNTRY’S CURRENT ACCOUNT / BALANCE OF PAYMENTS: The current account showed a balance of trade and income in foreign investment. It contains all of the transactions, including exports, imports, credit, etc. The deficit in the current account for spending more money on imported products than it is to get by selling exports depreciation. Balance of payments fluctuates exchange rate of the variable cost.
GOVERNMENT DEBT: Government debt is public debt or national debt owned by the central government. A country with government debt are less likely to buy foreign capital, leading to inflation. Foreign investors will sell their bonds on the open market if the market predicts government debt in the other country. As a result, an increase in the value of the exchange rate will follow.
TERMS OF TRADE: Related to the current account balance of payments, and the terms of trade is the ratio of export prices to import prices. In terms of trade improve if exports prices to rise at a higher rate than import prices. This results in higher revenue, which has led to higher demand and the cost of an increase in the currency’s value. This results in an appreciation of the exchange rate.
POLITICAL STABILITY & PERFORMANCE: A state politics and the economy may affect the cost of energy. A country with less risk of political turmoil is best for foreign investors, as a result, to attract investment from other countries with more political and economic stability. Add outside the capital, in turn, leads to an appreciation in the value of the variable cost. A country with sound financial and trade policy does not provide any room for uncertainty in the value of the currency. However, a country prone to political confusions can see depreciation in exchange rates.
RECESSION: When the country suffered a recession, interest rates are likely to fall, decreasing the chances to acquire outside capital. As a result, the currency weakened in comparison to that of other countries, thus lowering the exchange rate.
SPECULATION: If the country’s currency value is expected to rise, investors will need more of that money to make a profit in the future. As a result, the value of the currency will rise due to the increase in demand. With this increase in the money value comes a rise in the exchange rate.
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