When it comes to dollar conversion to naira, there’s only one product i validate and that’s Flaxx not just because i use their services but because they are the best to look out for when you want to save time, drama and money…
The current dollar rate in Nigeria today at Flaxx is #771 to 1$… currently, dollar is on the rise and nothing seems to be holding it back from the dangerous inflation about to break out in the Nigerian economy so its only wise that you find a payment portal that gives you value for your earnings.
This might probably be the shortest and most enlightening blog post you will ever read in 2022, so without wasting much time, lets evaluate the Flaxx rate for earners within and outside Nigeria.
(Flaxx.Co) Current Dollar Rate In Nigeria – Monday 16th January 2023
It has become old news to the average Nigerian entrepreneur that the dollar to naira rate is increasing rapidly with inflation hitting top, right, bottom of the Nigerian economy with both local and international transactions
And at this point the very best thing you can think of is getting your pay in dollars or buying at a sweet exchange rate so you don’t keep leaving money on the table both with FX trading and black market transactions.
The exchange rate between the nigerian naira and the US dollar depreciated on monday the 14th 2022; with a closing of 780/$1 after recording gross significant gains in the previous week, this is according to the information we received from black market traders who spoke with Nairametrics
Naira depreciated by 17.6% compared to #680/$1 recorded just a week ago, Meanwhile the exchange rate still varies among various locations depending on time of transaction.
How Much Is $1 In Nigeria Now?
USD is being traded at ₦750 in Black Market(Lagos) today, Monday, November 14, 2022. USD has been traded at ₦745 when Black Market closed last week on Friday, November 11, 2022. This makes it 0.05% rise for United States Dollar against Naira this week.
When we look at this month, USD was traded at ₦812 at the beginning of this November on Tuesday, November 1, 2022. As at today with USD being traded at ₦750 we see a -0.62% decline for United States Dollar to Naira exchange rate for this month.
What Is today’s Dollar Buying Rate?
Today’s CBN current dollar rate in Nigeria buys at #441.68/$1, Black market buys at #750 while Flaxx buys at #771/$1
- Works well with PayPal, Payoneer, and Amazon
- Virtual Account for PayPal Verification and International Payment
- Accept credit and debit cards, Alipay and Applepay
- Works well with other freelance services like Upwork and Fiverr
I have tested the website myself and everything is functional. The USD account here can be used in withdrawing funds from PayPal, Payoneer, Amazon, Upwork and Fiver. Like Grey and Payoneer, creating a virtual account is free, and you only need to prove your identity in four easy steps.
You can also link this virtual account to Payoneer so that you can withdraw your Payoneer funds to Flaxx and withdraw at the black market rate.
I guess everybody knows Payoneer’s rate is somewhat low. The rate right is about NGN440.46, which is the official CBN rate. If you still withdraw from Payoneer straight to your Naira account, you are losing a lot of money and leaving out the better part.
How to Register A Flaxx Account
To register and verify your Flaxx account, follow this process,
Go to https://Flaxx.co
On the left side corner, click on the three lines and choose Register
Provide all your necessary details, including your Full name, email, Phone number and password.
When you are done, click on create an account. Then the website will ask you to verify your email address.
An OTP would be sent to your email to verify, input the OTP code and click on Verify. You will be verified immediately and your account will be activated successfully
And there you have it, your account would be ready, you can simply login with your email and password to complete your KYC. They trade with the black market rate and receives deposit at zero cost.
After ID verification, you can request virtual cards. You can request GBP, USD, Euro, and Naira bank accounts. Your USD account will be given to you immediately you request for one.
Flaxx is currently the best alternative for Nigerians. The account can be linked to your PayPal for withdrawal, and you can also use it as your payment method for other platforms that request international payment.
I would definitely love to hear from you, what was the most challenging thing you’ve had to go through since the dollar hike?