Cryptocurrency Q&A
What is the dollar to Naira parallel market exchange rate in Nigeria?
What is the dollar to Naira parallel market exchange rate in Nigeria?
CryptoTamer
Wed Jul 17 2024
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6 answers
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Could you please elaborate on the current dollar to Naira parallel market exchange rate in Nigeria? I'm particularly interested in understanding how it differs from the official exchange rate and the factors that might influence its fluctuations. Does the parallel market rate tend to be higher or lower than the official rate? Also, is there any significant volatility in the parallel market rate, and if so, what are the main causes behind it? Your insights would be invaluable in helping me gain a better understanding of this topic.
6 answers
StormGlider
Fri Jul 19 2024
The parallel market exchange rate for the Dollar to Naira in Nigeria stands at an average of ₦1,475.00 today, dated 12/06/2024.
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EmilyJohnson
Thu Jul 18 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services to its customers. These include spot trading, futures contracts, and wallet services for storing digital currencies securely.
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KpopStarlet
Thu Jul 18 2024
This data is based on a single buy rate sourced from user comments in various forums and platforms.
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JejuSunshine
Thu Jul 18 2024
The parallel market, often referred to as the black market, operates independently of official exchange rates set by governments or financial institutions.
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Claudio
Thu Jul 18 2024
It is influenced by a variety of factors including supply and demand, political stability, and economic conditions.
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