Current Dollar to Naira Exchange Rate Today Black Market(AbokiFx & Official CBN Rates): Planing on buying equipment for your business and you hear the word”dollar high”, that’s because some of the equipment are imported
How much is dollar to naira exchange rate today?
At the time of publishing this post, the official Dollar to naira exchange rate for today (Updated Today) Official CBN rate: N1,624 => $1 while road side bureau de change operators Black Market Rate(Aboki) => N1,680 = $1 1 dollar to Naira => N1,7680 exchange rate dollar to naira today
As you may already know Nigeria is currently swimming in the ocean of recession and on a daily basis business are shutting down,people are loosing their Jobs and some people have been unemployed for almost a year.
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Its funny that these excruciating economic hardship been experienced in Nigeria could have easily been preventable. With the high Dollar to Naira Exchange Rate today at the black market, it is obvious that indeed Nigeria is experiencing an acute economic recession, owing to leadership failure and over-dependent on foreign imports for several years.
The effect of this very high Forex exchange rate on Nigerians can not be overemphasized with several families living below $1 daily since the intervention of the central bank of Nigeria by floating our national currency(Naira) in the foreign exchange market in order to cushion the effect of reduced foreign reserve to ease dollar demand, the Naira has been on a free fall this however has not had the positive effect the CBN had hoped for and for that reasons many Nigerians now spend more Naira to buy less products.
Possible Solutions Improve the Dollar to Naira Exchange Rate
There’s never a problem that doesn’t have a solution, however its our collective responsibility to insure that Nigeria is grate again. Here are some of my suggested solutions which i believe if properly implemented could bring an end to high dollar to naira exchange rate today in the black market disappear
1. We have to be Patriotic: its high time we start patronizing made in Nigeria goods and focus on how to make our own products of international standard.
2. Diversify the Economy through Agriculture: our over reliance on crude oil as the major source of revenue is fast losing its worth especially with advanced countries developing ways to get clean energy for powering of vehicle and other machinery that we initially powered with crude oil products
And finally Government Should Revive the Industries and when all this factors are effectively implemented, i bet you Nigeria will be grate again
Official Dollar to naira exchange rate for today (Updated Today) Official CBN rate: N1,620 => $1 while road side Bureau de change operators Black Market Rate(Aboki) => N1,680 = $1 1 dollar to Naira => N1,680 exchange rate dollar to naira today