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Continuation Of Dollar Rise In The Market
By on September 19th, 2021. CN Research

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Recently, we have noticed a high rate of dollar in the market, the rate have gradually increase from it normal rate to the present one now.

What may be the cause of this increase, ever since it moved from 120 to 200 in naira, it keeps adding more values and this could be a simple reasons maybe a high rates of demand or a much used of the currency that may actually lead to this.

Presently the high rates falls at two side, each for you to gain higher or just gain and a little bit loose because of the continue increase. As of 2015, the rates of dollar to naira is just about 120 to naira, but presently dollar have skyrocket such much in value that, 1 dollar is equal to 410 in naira, that’s on-line then 520 in naira in the black selling market.

The price of it presently helps you make huge sells when withdrawing from your international selling and convert to naira, also make you spend much when investing in internationally converting from naira to dollar using the acceptable currency or means which is the dollar in world trading.

Dollar has two factors presently that is making it to count and continue rating high internationally and the two factors are “Demand & Supply”. This simply known two factors can make a market go from trash to high wanted and serve as the most needs of the people.

Don’t be surprised that, in recently time the cost of dollar will definitely skyrocket more than the present cost now. It a continue process, so I don’t think it we can really do much about this, even if we are it could be adjusted to some certain amount and not that high compared to now.

How Is The Rating In Nigerian And Some Others Countries?

The rating in Nigeria and according to Central Bank Of Nigeria is ₦ 410.42, this is a cool super price and a government recommended plans, so I won’t like to compare this much to the present one at the black market, although not that dollar I’d scars or what ever, but just the the high rate and the way people make use of it is very high compared to others currency in the market.

In others countries, I will like us to check and see how much is it currently maybe in their black market and compare to Nigerian current rate to see if we can actually get more out of what we have already known, and same time we could talk about the factors which is “Demand & Supply” to help you understand why dollar has keep increase fast and more quicker.

Let check how much is dollar in the world market and rating and try if we can get the current rating in some countries so we can make some comparison to know which is loosing or gaining. In world market money rating, 1 dollar is reportedly to be 411.40 Nigerian currency. Now I want you to understand that, the higher the dollar becomes, it’s show’s the higher people are demanding for it supply internationally or worldwide.

Even before we talk about the “Supply & Demand”, let take a brief check to see how much currently is dollar in ghana in their black exchange market, well am sorry I couldn’t get the perfect shape from there black market, but the online money exchange rate show’s that 1 US dollar is equal to 5.97 Ghanaian Cedi, it gives a perfect rates just like the USD to Naira.

HOW DOES DEMAND & SUPPLY ADD TO INCREASE IN DOLLAR.

In 2010, the money rating online mostly used for trading uses different countries currency in trading online, thus means if you are from Nigerian and want to purchase an Items online with your local card, you will be charge in naira, same to others countries in the world and then dollar was just 122.

Something naira compare to today that the current rate is 411 online and 510_520 online.

With my above explanations, I can tell you that the causes of this increase in dollar is coming mostly from an online demanding where most companies trade in dollar making it look more attractive and easy compared to others currency, I think that’s why dollar is becoming more higher daily.

Talking about the supply, now I have a company I need dollar to get everything start working fine, but presently it isn’t available for me, the costs of getting dollar usually is 400 naira convert to Nigerian naira, if a supply is to deliver it to me to buy it may be more than what others who owns it massively are buying.

Demand and Supply are two brothers who work together to make a simple dashboard that could have either a market seller or or trader to understand the needs and why things have to grastically skyrocket, within a period of time or gradually.

The continue if dollar rise in the market like I said earlier has much relationship to do with the high rate of Demand and Supply from the people.

Let Check How The Dollar Increase Is Currently Doing In The Market.

On today episode, with my recent check dollar is still 411 naira, but in few hours time let watch out to see how this comes with heavy increase or decrease. I could personally love to contact one of the local money changer to know if there’s any increase in the currency, but right now am too busy about that, but I could include it in our next class.

But comments on the current rate, it’s perfect but although we all comes with different vision, where some want it to keep increasing and some need it to be decrease, but the real thoughts about it is that people make it more expensive and because they trade online mostly with dollar so, I don’t think if it will be very easy for it to drop down.

Continuation Of Dollar Rise In The Market, brings you important tips on the article, giving you reasons while dollar keep skyrocketing daily.

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Amaechi Wisdom

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