Those who saw the future a few months ago and invested in dollar will be excited about the way the dollar to Naira exchange figures in the black market are changing.
If you were told that there would come a time when 1 USD would be exchanged for ₦1300 world you have believed?
In fact, not many Nigerians alive today would have prayed to see that day when the value of the Naira would be so devalued.
Or was it just October’s bad luck?
In the history of Nigeria, the month of October 2023, would always be remembered for one thing.
Serious Hostility
The month in which the value of the Naira crashed so much that the dollar changed for ₦1300 in the black market.
Have You Read: Black Market: Dollar To Naira Exchange Rate
This period was marked by serious hostility, as traders in the market, importers, business owners and currency dealers struggle.
It was so bad that food prices that had gone high kept going higher by the day.
But one can say that things are getting better as the Naira is beginning to appreciate.
As of today, currency dealers in the black market say the Naira can be bought at ₦1037 and sold for ₦1010.
Earlier on Monday, the dollar traded in the black market at ₦1,025.00
Also, trading in the black market are other currencies like the pound, euro, and CAD.
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While it may be possible to buy 1 euro at ₦1105 and sell at ₦1075.
Such may not be possible with Pounds which you can buy ₦1280 and sell for ₦1220 at the black market rate.
But it is hoped that things will improve soon with the Central Bank settling all dollar backlogs for banks and airline operators.
Indeed, this can help change the tide of events currently in Nigeria.
Dollar to Naira Rate for the Past 7 Days
| Date | Buy | Sell |
| November 6, 2023 | ₦1025 | ₦1008 |
| November 5, 2023 | ₦1020 | ₦1005 |
| November 4, 2023 | ₦1010 | ₦980 |
| November 3, 2023 | ₦1050 | ₦1015 |
| November 2, 2023 | ₦1060 | ₦1020 |
| November 1, 2023 | ₦1165 | ₦1100 |
| October 31, 2023 | ₦1168 | ₦1145 |
