Exchange Rate Dollar To Naira Black Market February 2017 - Current Rate

Exchange Rate Dollar To Naira Black Market 2017- Current Rate   

As we welcomed the year 2017, the exchange rate of naira to dollar is dwindling on daily or weekly basis and this month of February 2017 seems to be the worst as it is N1 - $506 in black market. 

This is not applicable to dollar as EURO and Pounds has risen graciously against our precious naira, though Central Bank Of Nigeria charges low when compared to inter banks.

Note When it comes to inter-bank or cbn exchange rate, it differs from bank to bank as it seems that gtbank and diamond bank has the best exchange rate for their customers. The likes of first bank and Fcmb will charge you higher if you are trying to pay online and lower when you want to receive dollars to your savings account or current account. 

DOLLAR TO NAIRA EXCHANGE RATE For February 2017 

This page is strictly for dollar to naira exchange rate which i will update it daily so you better bookmark it for the latest update. 

CBN $1 Dollar To Naira Exchange Rate Today For February 2017 

 N315.25 - Buying Rate Per $1

 N315.25 - Selling Rate Per $1

Black Market $1 Dollar To Naira Exchange Rate Today February 2017 

N455-  buying per $ 1

N463 -  selling per $ 1.

HOW GOOD IS DOLLAR TO NAIRA EXCHANGE RATE Black Market 

If you one of those that receives dollars on weekly or monthly and you don't have a domiciliary account, you should create one because it is way better than your savings account. For example exchange rate in the black market is $1-N506 while bank will give you highest $1-N315.  Just imagine the amount you are losing or giving to the bank and if you want to make payment online, you will be charged higher with least $1-N320 for gtbank. 

This is why it is compulsory for you to try and create a domiciliary account and i would recommend gtbank or diamond bank for you. Reason being that you can easily create dorm account with this two banks and also not costly to maintain. But if you have the money and wants enough security for your dorm account then First bank nigeria and Zenith bank is for you though you will require to answer questions especially if you are too young before they will open the account for you. 

That's it for Dollar To Naira Exchange Rate Today - Black Market Rate February 2017 and don't forget to bookmark this page or this website for more information or with any latest development on Dollar To Naira Exchange Rate thanks. 

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Short Term Financing Sources And Types

Today's post is about Short Term financing, Sources, what is all about, how to use it and the types of short term financing we have in finance and also kinds of loans.

Short term financing is the type of finance that is provided for periods not exceeding one year. Generally, firms seek this type of finance to enable them provide funds for their current needs.

In looking for this type of finance, the financial manager seeks specific answers to the following questions, what is the cost of such finance, how flexible is the finance and finally how restrictive are the provisions of the contractual terms.

Every aspect of finance has a sort of cost attached to it. That is to say that funds are not provided free of charge, as the financial manager must evaluate this cost against the benefit he expects from utilizing the facility.

The financial manager will want to know whether it is possible to increase the volume of credit or whether his organization is stuck with that level of credit. The financial manager must evaluate the amount of restriction which the credit has imposed on his organization.

Sources and Types of Short Term Financing

1. Trade Crédit 

This is the type of credit that is extended in the course of normal trading activity. Trade credits are allowed in most cases to create goodwill between trading partners, and also covers period from when the customer takes physical possession of the goods to when he is required by the creditor to pay for them. 

Trade credits are expressed in periods such as ; 

2/10 net 40

2/10 net 60 

2/10 net 90 

2. Bank Loans 

Bank loans can be classified according to securities pledged. In this regard, we have secured and unsecured loans, seasonal loan and interim loan. The Secured Loan which is a form of loans for which securities are pledge as collateral while Unsecured Loan is that type of loan for which there are no securities pledged. 

Seasonal Loan are loans given out to people to enable them cope with their economic activities during a particular season. While Interim Loan is a type of loan given to enable a firm tide over temporal cash deficiencies.

This is what i have about short term financing, sources and types of it, next post will be long term financing and what is all about. If you have any question or suggestion please state below thanks. 

                           

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