Business & Finance

Dollar to Naira Black Market Exchange Rate for 14th February 2025

Dollar to Naira Black Market Exchange Rate for 14th February 2025

The Dollar to Naira exchange rate remains a crucial factor for businesses and individuals engaged in international transactions. The black market, also known as the parallel market, often provides real-time rates that differ from official sources, making it essential to track these fluctuations.

Below are the latest exchange rates for 14th February 2025 in the black market:

Black Market Exchange Rates for 14th February 2025

CurrencyBuying Rate (₦)Selling Rate (₦)
US Dollar (USD)15551565
Pound Sterling (GBP)19401980
Euro (EUR)15701610
Canadian Dollar (CAD)11001200
South African Rand (ZAR)7595
Chinese Yuan (CNY)180220
UAE Dirham (AED)420450

Factors Influencing the Exchange Rate

Several factors contribute to fluctuations in the Dollar to Naira exchange rate in the black market, including:

  • Demand and Supply: High demand for foreign currency, especially USD, leads to increased exchange rates.
  • Government Policies: Import restrictions, forex reserves, and monetary policies impact the value of the naira.
  • Global Market Trends: The strength of the US dollar in global markets affects its value against the naira.

Related Post

Black Market Dollar to Naira Rate Today, 10th February 2025

Dollar to Naira Exchange Rate Today – February 7, 2025 (Black Market & Official Rates)

Dollar to Naira Black Market Exchange Rate for 15th February 2025

Dollar to Naira Black Market Exchange Rate for 16th February 2025

Dollar to Naira Black Market Exchange Rate for 17th February 2025

Dollar to Naira Black Market Exchange Rate for 19th February 2025

Why Monitor the Black Market Exchange Rate?

For businesses and individuals dealing in foreign currency, staying updated on the black market exchange rate is essential for:

  • Making informed financial decisions.
  • Avoiding losses due to unexpected currency fluctuations.
  • Planning ahead for international transactions and remittances.

Conclusion

The Dollar to Naira black market exchange rate for 14th February 2025 stands at ₦1555 (buy) and ₦1565 (sell). Monitoring these rates daily helps businesses and individuals make better financial decisions.

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