Dollar to Naira Rates Today on 7th June 2023 » Voice of Nigeria
Check today’s dollar to naira rates on the black market and CBN exchange rates on June 7th, 2023.
Find the buying and selling rates easily.
Dollar to Naira Rates Fluctuation on 7th June, 2023
The Nigerian Naira, steadfast as ever, held its ground on Tuesday, trading at N464.67 per dollar within the Investors and Exporters’ window. This rate mirrors the Naira’s stability, as it maintained its value from the previous day, Monday. The day’s trading ended with the open indicative rate pegged at N464.96 to the dollar.
During Tuesday’s trading session, fluctuations in the Naira’s value saw it reaching a peak of N467 to the dollar before stabilizing back to N464.67. The lowest recorded trade within the day put the Naira at a commendable N460 to the dollar.
It’s worth noting the considerable activity witnessed within the Investors and Exporters’ window on this day, with a total of $186.02 million changing hands.
Black Market Rates on 7th June, 2023
For those seeking an understanding of the Naira to dollar exchange rate in the black market on June 7, 2023, the figures obtained from ThisNigeria provide an intriguing perspective.
Based on data gleaned from the FMDQ Security Exchange, the official forex trading platform, the Naira opened at ₦464.96 per dollar on Tuesday, June 6, 2023, and closed at ₦464.67 per dollar the same day.
Subheading: Unveiling the Black Market Naira to Dollar Exchange Rate
Many are curious to know the exchange rate of Naira to dollar in the black market. The dollar to Naira rate at the Lagos Parallel Market (colloquially referred to as the Black Market) gives a comprehensive view. As per the information relayed by Bureau De Change (BDC) sources, traders were buying a dollar for N755 and selling for N765 on Tuesday, June 6, 2023.
However, it’s important to mention that the Central Bank of Nigeria (CBN) does not officially acknowledge the parallel market. As per CBN’s directive, those interested in forex transactions should approach their respective banks.
The Black Market Buy/Selling Rate – 7th June 2023
Let’s take a look at the current black market exchange rate from Dollar to Naira (USD to NGN) for June 7, 2023:
- Buying Rate: N755
- Selling Rate: N765
Please be aware that the rates at which you purchase or sell forex may differ from the ones mentioned in this article due to market volatility.
CBN- Dollar to Naira Exchange Rates – 7th June, 2023
As per our records, the CBN’s official benchmark for the dollar-naira exchange rate was N461.18 for $1 on June 7th, 2023.
- Buying Rate: N461.18
- Selling Rate: N762.18
Latest Updates:
Disclaimer
While the data mentioned in this piece was up-to-date as of June 7th, the unpredictable ebb and flow of the black market often leads to broad swings in exchange rates, primarily driven by supply and demand factors. Therefore, it’s essential to keep abreast of the most current rates or consult with a financial expert prior to engaging in any foreign currency exchange activities.
