300 dollars to naira exchange rate: convert dollar to naira with app

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Dollar is a world wide accepted medium of exchange, there is no way to purchase product and services outside Nigeria without changing naira to dollar. But what to do when the exchange rate is not staple it keep moving up and down.

This is why we decided to create an app that will help you convert any currency to naira, be it Dollar or Euro or any currency. You can click here to use the app

How much is 300 Dollars to naira

300 dollars to naira today at bank rate is #135,000.

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300 dollar to naira today at black market rate is #180,000

How to exchange your dollar to naira in Nigeria

As a result of CBN policy you can change your money at the bank or go to aboki to help you change it. Dollar to naira bank rate is #450 while dollar to naira black market rate is #600 but changing it from the Aboki can be stressful at times.

Why is naira falling against dollar

The reason for naira depreciation is a simple logic, Nigerians consume more than we produce for instance let say you produce only one cob of maize but you need 10 tuber of yam.

Assuming one cob of maize = 1 tuber of yam you can only get 1 yam which is a trade deficit.

Since we buy a lot than we consume we need a lot of dollar which is the world medium of exchange and in doing so demand of dollar rise up and the law of demand state that, the higher the demand the higher the price.

See also  Euro to naira black market rate today
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How to solve this problem

Though CBN has been making serious policy lately but the real and permanent solution is to become a producing nation such that we will be able to export our product to other country therefore reducing our dollar demand.

Can I change my naira to dollar and invest outside the country

Well, it a good investment strategy there are apps in Nigeria that will help you do this but note that it is as well risky, with the rate CBN is taking this dollar issue, it might not be long before dollar will crash, so think it well before you embark on such investment.

Conclusion

Above is 300 dollar to naira rate. We know that dollar to naira exchange rate is volatile, we will keep updating this page, you can always come back to check, or you can visit our currency converter.

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