What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? On Monday, January 16, 2023, it opened at N750.00 per $1. Keep these tips in mind and stay informed about the latest trends in the global currency markets. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. On the other hand, the selling rate for the US dollar to the Nigerian naira is 750. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); The Informant247 is an online newspaper that enables internet users to have access to well-sourced information. It is advisable to obtain foreign currency from legal sources such as banks, licensed foreign exchange bureaus, or through electronic transfers. The resulting depreciation of the naira against the dollar on the black market has increased the exchange rate. To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Investors King understands that although the dollar to naira opened at N731 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014. Buying Rate. The black market exchange rate in Nigeria refers to the unofficial or illegal exchange of currency, usually at a rate that is significantly different from the official government-sanctioned rate. According toInvestors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for N745 and sold for N740. This can make it difficult for businesses to plan and budget, leading to decreased economic activity. The Central Bank of Nigeria (CBN) has said it is investigating Oniwinde Adedotun, the founder of abokiFX. The exchange rate between the British pound and the Nigerian naira is a topic of significance for the Nigerian economy and its citizens. Speculators: Speculators routinely affect the exchange rate between the naira and the dollar. Exchange Rate of Dollar To Naira in Black Market Today? Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. The following are the current CAD to naira black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Canadian Dollars at the parallel (unofficial) market. Nigeria is one of many countries that use the abokifx exchange rate system. You also have the option to opt-out of these cookies. On Thursday, 16th of September 2021, abokiFX reported that the naira was trading at 570 to the dollar at the parallel market. Parallel market rates (black market rates) are obtained from various sources including online media outlets. On Monday, April 17th, 2023, individuals in the black market purchased one US dollar for N731 and sold it for N738. Convert foreign currencies instantly with the Abokifx calculator. The official NAFEX rates are obtained from the website of the FMDQOTC. 740. However, devaluation can also lead to increased inflation and decreased purchasing power for consumers. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. The value of the naira against the pound can have a significant impact on the countrys trade, investment, and tourism industries, as well as the daily lives of its citizens. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, Turkey Central Bank Asks Lenders to Limit Dollar Purchases - BLOOMBERG, Yuan May Rally More Than 5% as Economy Rebounds, Pictet Says - BLOOMBERG, Sterling edges down ahead of busy data week for Britain - REUTERS, King Dollar Isnt Dethroned Yet, But Theres a Trade to Make Now - BLOOMBERG, South African rand gains as dollar slips; inflation in focus - REUTERS, European Central Bank to Lift Deposit Rate to 3.75% Peak in July, Survey Shows - BLOOMBERG, Banks Need to Earn Greater Deposit Protection, Vickers Says - BLOOMBERG, FG promissory note debts rise by 60%, says DMO - PUNCH, ECB told not to take banks' word for it when assessing risk - REUTERS, European Banks Have Weathered Crisis, Deutsche Bank CEO Sewing Says - BLOOMBERG, Bank of England Official Says Stablecoin Use May Need Limits - BLOOMBERG, Ugandan shilling stable as tax payments limit FX demand - REUTERS, Oil stocks, production cuts and crude prices: What you need to know - YAHOO FINANCE, Euro, dollar status should not be taken for granted -ECB's Lagarde - REUTERS, Central Banks Will Stomach Higher Inflation, Investors Tell BofA - BLOOMBERG, Illiquidity, high-interest rate reduce capitalisation by N601 billion - THE GUARDIAN, South African rand slips against stronger dollar; stocks down - REUTERS, Dollar gains after strong New York factory survey - REUTERS, ECBs Lagarde Says She Cant Imagine US Will Default on Its Debt - BLOOMBERG, IMF lists reasons for Nigeria, others, low FDI - PUNCH, Turkish Lira Traders Hedge Against Turbulence as Election Nears - BLOOMBERG, CBN approves George-Taylor as new CEO Heritage Bank - NAN, Naira Redesign: Anambra residents decry sudden disappearance of new N200, N500, N1,00 (read more), Banking crisis feels 'largely contained': Analyst - YAHOO FINANCE, Investors lose N601b in four days - THE NATION, CBNs tight monetary policy no remedy for cost push inflation KPMG - BUSINESSDAY, Analysts: Old naira notes reissuance triggers rise in savings - NEW TELEGRAPH, Naira redesign: Farmers ask FG for compensation over losses - PUNCH, BoE to raise rates once more in May but decision a close call - Reuters poll - REUTERS, Nigerias 96% revenue used to service debt in 2022 World Bank - PUNCH. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? Convert foreign currencies instantly with the Abokifx calculator. A: Todays exchange rate (460.655) is lower compared to yesterdays rate (442.8151). The unofficial foreign exchange market rate is unregulated, it is considered illegal and anyone who trades in this market could be arrested if the apex bank is determined to exercise its monetary power as we The dollar to naira today black market exchange rates in Lagos Nigeria today. RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, **XAF Central African CFA Franc (Cameroon CFA Cam), We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. The local currency ( abokiFx) opened at N747.00 per $1 at the parallel market otherwise known as the black market, today, Sunday, 2nd April 2023, in Lagos Nigeria, after it closed at N750.00 per $1 on Friday, 1st April 2023. Pounds to Naira Black Market Rate Today Abokifx - Aboki Forex How much is Pound to Naira? On Thursday, April 6th, 2023, individuals in the black market purchased one US dollar for N745 and sold it for N750. This means that for every one US dollar, you can exchange it for 745,Investors Kingreports. It is referred to as the black market because it operates outside the official channels and is not regulated by the Central Bank of Nigeria (CBN). It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, Turkey Central Bank Asks Lenders to Limit Dollar Purchases - BLOOMBERG, Yuan May Rally More Than 5% as Economy Rebounds, Pictet Says - BLOOMBERG, Sterling edges down ahead of busy data week for Britain - REUTERS, King Dollar Isnt Dethroned Yet, But Theres a Trade to Make Now - BLOOMBERG, South African rand gains as dollar slips; inflation in focus - REUTERS, European Central Bank to Lift Deposit Rate to 3.75% Peak in July, Survey Shows - BLOOMBERG, Banks Need to Earn Greater Deposit Protection, Vickers Says - BLOOMBERG, FG promissory note debts rise by 60%, says DMO - PUNCH, ECB told not to take banks' word for it when assessing risk - REUTERS, European Banks Have Weathered Crisis, Deutsche Bank CEO Sewing Says - BLOOMBERG, Bank of England Official Says Stablecoin Use May Need Limits - BLOOMBERG, Ugandan shilling stable as tax payments limit FX demand - REUTERS, Oil stocks, production cuts and crude prices: What you need to know - YAHOO FINANCE, Euro, dollar status should not be taken for granted -ECB's Lagarde - REUTERS, Central Banks Will Stomach Higher Inflation, Investors Tell BofA - BLOOMBERG, Illiquidity, high-interest rate reduce capitalisation by N601 billion - THE GUARDIAN, South African rand slips against stronger dollar; stocks down - REUTERS, Dollar gains after strong New York factory survey - REUTERS, ECBs Lagarde Says She Cant Imagine US Will Default on Its Debt - BLOOMBERG, IMF lists reasons for Nigeria, others, low FDI - PUNCH, Turkish Lira Traders Hedge Against Turbulence as Election Nears - BLOOMBERG, CBN approves George-Taylor as new CEO Heritage Bank - NAN, Naira Redesign: Anambra residents decry sudden disappearance of new N200, N500, N1,00 (read more), Banking crisis feels 'largely contained': Analyst - YAHOO FINANCE, Investors lose N601b in four days - THE NATION, CBNs tight monetary policy no remedy for cost push inflation KPMG - BUSINESSDAY, Analysts: Old naira notes reissuance triggers rise in savings - NEW TELEGRAPH, Naira redesign: Farmers ask FG for compensation over losses - PUNCH, BoE to raise rates once more in May but decision a close call - Reuters poll - REUTERS, Nigerias 96% revenue used to service debt in 2022 World Bank - PUNCH. The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Dirham to Naira at the parallel (unofficial) market. This cookie is set by GDPR Cookie Consent plugin. Ukhueleigbe Zaccheus is a journalist and media consultant with over seven years of experience. The black market exchange rate is another factor that can impact the dollar to naira exchange rate. Investors King. RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. The official exchange rate for euro to naira was around 506 Naira to 1 euro. These cookies do not store any personal information. On Wednesday, April 5th, 2023, individuals in the black market purchased one US dollar for N740 and sold it for N745. According to Morningstar, one United States Dollar equals 468.00 Nigerian Naira. WebPounds To Naira Black Market and Official CBN Exchange Rate Today; Euro To Naira Black Market and Official CBN Exchange Rate Today; Dollar To Naira Black Market Exchange Rate Today; UAE Dirham To Naira Black Market and Official CBN Exchange Rate Today; Chinese Yuan To Naira Official CBN and Black Market Exchange Rate Today According to the information provided, the buying rate for the US dollar to the Nigerian naira is 745, meaning that individuals or businesses who want to buy US dollars can do so at a rate of 745 for every 1 US dollar. By. The following are the dollar to naira current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying United States Dollars (USD) at the parallel (unofficial) market. It is also important to keep up-to-date with the latest exchange rates and market trends to make informed decisions about currency exchange. The apex bank is said to be investigating seven accounts belonging to Adedotun and abokiFX, vetting every forex transaction from 2019 to 2021. Your comment will be published after the review process. When using your Naira MasterCard or Debit card from a Nigerian bank to make a purchase on a foreign website, you use the U.S dollar to Nigerian naira bank rate. A: One Dollar is worth 460 Nigerian Naira today. Selling Rate. WebExchange Rates by Bank in Nigeria / = BTC/USD = 25860.1945 BTC/NGN = 19472726.4581 ETH/USD = 1760.1613 ETH/NGN = 1325401.4533 LTC/USD = 87.0409 LTC/NGN = 65541.7768 XRP/USD = 0.3825 XRP/NGN = 288.0026 BCH/USD = 133.8495 BCH/NGN = 100788.6512 Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. The black market exchange rate is another factor that can impact the pound to naira exchange rate. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? Factors Influencing Foreign Exchange Rates However, you can buy and sell 1 USD at 745 and 740 as of the time of writing today. WebMonthly data for the market currency exchange rates in Nigeria. The existence of a black market exchange rate can also reduce the confidence of foreign investors and discourage investment in the country, further damaging economic growth and stability. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, Bank of England's Tenreyro says patience needed to lower inflation - REUTERS, Sunak Eyes Inheritance Tax Cut as Tories Gear Up for UK Election - BLOOMBERG, Bank of England's Pill says latest UK data is disappointing - REUTERS, Bank of England's Bailey: I don't see makings of a repeat of 2007-08 financial crisis - REUTRES, Dollar, stocks slip after Fed minutes spur recession fears - REUTERS, Britains property market faces a reckoning the house price plunge is only beginnin (read more), UK Housing Shortage to Deepen as Councils Cut Approvals: Times - BLOOMBERG, Bank of England may need to cut interest rates earlier and faster - THE GUARDIAN UK, Bank of England tells regulators to move fast on LDI reform after mini-budget crisis - REUTERS, UK braced for further price rises as inflation set to worsen, S&P warns - BLOOMBERG, Bailey Suggests BOE Wont Lift Rates Back to Pre-Crisis High - BLOOMBERG, UK Outlook Brighter as Recession and Cost of Living Fears Recede - BLOOMBERG, BOE Governor Says Rates Will Rise Again If UK Inflation Persists - BLOOMBERG, Traders Bet on More BOE Rate Hikes After Ugly Inflation Data - BLOOMBERG, BoC was still concerned about potentially sticky inflation as it held interest rate (read more), UK no longer forecast to enter recession, Jeremy Hunt says - REUTERS, Binance Halts Deposits and Withdrawals for Customers in the UK - BLOOMBERG, UK economy's return to growth boosts Hunt's spring budget plans - YAHOO FINANCE, BOE Should Rethink Route to 2% Inflation, NatWests Davies Says - BLOOMBERG, British Parents Turn to Home Equity to Help Young Buy Property - BLOOMBERG, BoE's Pill: UK economy slightly stronger than expected - REUTERS, Britain not behind other central banks in digital currency plans, says BoE - REUTERS, British Households Face Higher Energy Bills Despite Lower Price Cap - BLOOMBERG, Salad Shortages on UK Shelves Spark Brexit Blame Game - BLOOMBERG, UK Inflation to Fall to Just Above 2% by end of 2023, Citi Says - BLOOMBERG, Britain Lacks Millions of Homes Due to Tight Planning Laws, Says Think Tank - BLOOMBERG, INVESTING Commodities Company News News Wire 7h ago Britain Holds Up Better Th (read more), UK Sees Warm Start to the Week With Colder Weather to Come - BLOOMBERG, Bank of Englands Top Economist Signals Pace of Rate Hikes May Slow - BLOOMBERG, UK Announces Regulation of Buy Now, Pay Later Lenders - BLOOMBERG. The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Yuan to Naira at the parallel (unofficial) market. The unofficial foreign exchange market rate is unregulated, it is considered illegal and anyone who trades in this market could be arrested if the apex bank is determined to exercise its monetary power as we The pound is influenced by a range of economic indicators, including inflation, interest rates, and economic growth. Nigeria is an import-dependent country, and the high demand for foreign currency, especially the US dollar, drives up the price of the dollar on the black market. AbokiFX, registered in Arizona, United States, is the 63rd most visited website in Nigeria as of September 16, 2021. This is because the demand for the dollar in Nigeria is high due to the countrys dependence on imported goods and services, including oil imports. WebPounds To Naira Black Market and Official CBN Exchange Rate Today; Euro To Naira Black Market and Official CBN Exchange Rate Today; Dollar To Naira Black Market Exchange Rate Today; UAE Dirham To Naira Black Market and Official CBN Exchange Rate Today; Chinese Yuan To Naira Official CBN and Black Market Exchange Rate Today Pounds to Naira Black Market Rate Today Abokifx - Aboki Forex How much is Pound to Naira? Almost always, these prices are less expensive than those on the black/parallel market. Investors King. The local currency ( abokiFx) opened at N747.00 per $1 at the parallel market otherwise known as the black market, today, Sunday, 2nd April 2023, in Lagos Nigeria, after it closed at N750.00 per $1 on Friday, 1st April 2023. On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed at N750.00 per $1. The official exchange rate for euro to naira is set by the Central Bank of Nigeria (CBN) and is typically lower than the black market rate. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira This website uses cookies to improve your experience while you navigate through the website. The dollar to naira today black market exchange rates in Lagos Nigeria today. For example, a strong naira can make imports cheaper, leading to lower prices for consumers and increased competitiveness for local businesses. Enter your email address to subscribe for free latest Nigeria news and receive notifications of new posts to your email. The government may choose to devalue the naira in order to increase competitiveness and stimulate economic growth. It is one of the monetary policies of the apex bank. In Nigeria, the black market exchange rate is often significantly different from the official exchange rate, leading to increased demand for dollars in the unofficial market. The official dollar-to-naira exchange rate in Nigeria as of today, including Black Market, Bureau De Change (BDC), and Central Bank of Nigeria (CBN) ratesgathered by TopnewsNigeria.com. document.write(new Date().getFullYear()); In addition, Nigeria has been grappling with high inflation rates for several years, which has weakened the value of the naira, making it less attractive to investors. While the black market rate can offer a better value for your money, it is important to be cautious and only deal with reputable money changers. The black market (parallel) exchange rate is always different from the CBN rate. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. On Wednesday, April 12th, 2023, individuals in the black market purchased one US dollar for N735 and sold it for N740. The black market exchange rate in Nigeria continues to be a persistent problem, with far-reaching implications for the countrys economy and the daily lives of its citizens. The global economys performance, crude oil prices, and other external factors can influence the dollar to naira exchange rate on the black market. Save my name, email, and website in this browser for the next time I comment. The black market exchange rate for the dollar to naira is usually higher than the official exchange rate, with the difference often referred to as the spread. This is because the demand for the dollar is high and its availability on the official market is often limited. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. WebThe most trusted platform to get the live exchange rates. Convert foreign currencies instantly with the Abokifx calculator. WebMonthly data for the market currency exchange rates in Nigeria. The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). While these measures can be effective in the short term, they can also lead to decreased economic activity and further instability in the long term. This cookie is set by GDPR Cookie Consent plugin. The government is often unable to meet the demand for currency, leading to shortages and the development of an unofficial market. It is one of the monetary policies of the apex bank. Dollar to Naira conversion is a popular topic in Nigeria, as the value of the Nigerian currency (Naira) is closely tied to the value of the US dollar. Check the Central Bank of Nigerias website: The CBN is responsible for regulating the countrys monetary policy and is a reliable source for the latest exchange rates. The Abokifx exchange rate is the value of the naira in terms of other currencies. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. However, the black market exchange rate is often associated with risks, such as fraud, counterfeit currency, and scams. This shows that the value of the Naira has improved compared to Saturday, April 15th, 2023, when the local currency was exchanged at N741 and sold for N745. WebThe most trusted platform to get the live exchange rates. Umahi, Buhari reveals his second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World News. You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent, official CBN rate, black market, or parallel market rate. Comments expressed here do not reflect the views of abokiFX Ltd. The black market exchange rate for the US dollar to the Nigerian naira can vary widely from the official exchange rate set by the CBN. This is the option we recommend for Nigeria. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. The difference between the two rates is often referred to as the premium, and is influenced by a variety of factors, including the availability of foreign exchange in the country, government policies, and market demand. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, Turkey Central Bank Asks Lenders to Limit Dollar Purchases - BLOOMBERG, Yuan May Rally More Than 5% as Economy Rebounds, Pictet Says - BLOOMBERG, Sterling edges down ahead of busy data week for Britain - REUTERS, South African rand gains as dollar slips; inflation in focus - REUTERS, King Dollar Isnt Dethroned Yet, But Theres a Trade to Make Now - BLOOMBERG, European Central Bank to Lift Deposit Rate to 3.75% Peak in July, Survey Shows - BLOOMBERG, Banks Need to Earn Greater Deposit Protection, Vickers Says - BLOOMBERG, FG promissory note debts rise by 60%, says DMO - PUNCH, ECB told not to take banks' word for it when assessing risk - REUTERS, European Banks Have Weathered Crisis, Deutsche Bank CEO Sewing Says - BLOOMBERG, Bank of England Official Says Stablecoin Use May Need Limits - BLOOMBERG, Ugandan shilling stable as tax payments limit FX demand - REUTERS, Oil stocks, production cuts and crude prices: What you need to know - YAHOO FINANCE, Euro, dollar status should not be taken for granted -ECB's Lagarde - REUTERS, Central Banks Will Stomach Higher Inflation, Investors Tell BofA - BLOOMBERG, South African rand slips against stronger dollar; stocks down - REUTERS, Illiquidity, high-interest rate reduce capitalisation by N601 billion - THE GUARDIAN, Dollar gains after strong New York factory survey - REUTERS, ECBs Lagarde Says She Cant Imagine US Will Default on Its Debt - BLOOMBERG, IMF lists reasons for Nigeria, others, low FDI - PUNCH, Turkish Lira Traders Hedge Against Turbulence as Election Nears - BLOOMBERG, CBN approves George-Taylor as new CEO Heritage Bank - NAN, Naira Redesign: Anambra residents decry sudden disappearance of new N200, N500, N1,00 (read more), Banking crisis feels 'largely contained': Analyst - YAHOO FINANCE, Investors lose N601b in four days - THE NATION, CBNs tight monetary policy no remedy for cost push inflation KPMG - BUSINESSDAY, Analysts: Old naira notes reissuance triggers rise in savings - NEW TELEGRAPH, Naira redesign: Farmers ask FG for compensation over losses - PUNCH, BoE to raise rates once more in May but decision a close call - Reuters poll - REUTERS, Nigerias 96% revenue used to service debt in 2022 World Bank - PUNCH. Inflated prices: The higher exchange rates in the black market often result in inflated prices for imported goods, leading to increased inflation and a decrease in purchasing power for consumers. WebLondon Exchange Rates. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. All rights reserved. Type above and press Enter to search. 750. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. Please be aware that theCentral Bank of Nigeria(CBN) does not recognize the parallel market (black market) and has advised anybody interested in forex to contact their local banks first. An insider, familiar with the events, said that unusual forex transactions were found in his account, suggesting the promoters of the platform have been involved in illegal forex trading. Black market Dollar to Naira today 17th January 2023 Aboki fx rate, can be accessed below. We also use third-party cookies that help us analyze and understand how you use this website. As of April 17, 2023, the dollar to naira exchange rate is 1 USD to 738 NGN at the black market. Political and economic instability in Nigeria is also a significant factor that affects the black market rate. RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. According toInvestors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for N740 and sold for N735. 740. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, Turkey Central Bank Asks Lenders to Limit Dollar Purchases - BLOOMBERG, Yuan May Rally More Than 5% as Economy Rebounds, Pictet Says - BLOOMBERG, Sterling edges down ahead of busy data week for Britain - REUTERS, South African rand gains as dollar slips; inflation in focus - REUTERS, King Dollar Isnt Dethroned Yet, But Theres a Trade to Make Now - BLOOMBERG, European Central Bank to Lift Deposit Rate to 3.75% Peak in July, Survey Shows - BLOOMBERG, Banks Need to Earn Greater Deposit Protection, Vickers Says - BLOOMBERG, FG promissory note debts rise by 60%, says DMO - PUNCH, European Banks Have Weathered Crisis, Deutsche Bank CEO Sewing Says - BLOOMBERG, ECB told not to take banks' word for it when assessing risk - REUTERS, Ugandan shilling stable as tax payments limit FX demand - REUTERS, Bank of England Official Says Stablecoin Use May Need Limits - BLOOMBERG, Oil stocks, production cuts and crude prices: What you need to know - YAHOO FINANCE, Euro, dollar status should not be taken for granted -ECB's Lagarde - REUTERS, Central Banks Will Stomach Higher Inflation, Investors Tell BofA - BLOOMBERG, South African rand slips against stronger dollar; stocks down - REUTERS, Illiquidity, high-interest rate reduce capitalisation by N601 billion - THE GUARDIAN, Dollar gains after strong New York factory survey - REUTERS, ECBs Lagarde Says She Cant Imagine US Will Default on Its Debt - BLOOMBERG, IMF lists reasons for Nigeria, others, low FDI - PUNCH, Turkish Lira Traders Hedge Against Turbulence as Election Nears - BLOOMBERG, CBN approves George-Taylor as new CEO Heritage Bank - NAN, Naira Redesign: Anambra residents decry sudden disappearance of new N200, N500, N1,00 (read more), Banking crisis feels 'largely contained': Analyst - YAHOO FINANCE, Investors lose N601b in four days - THE NATION, CBNs tight monetary policy no remedy for cost push inflation KPMG - BUSINESSDAY, Analysts: Old naira notes reissuance triggers rise in savings - NEW TELEGRAPH, Naira redesign: Farmers ask FG for compensation over losses - PUNCH, BoE to raise rates once more in May but decision a close call - Reuters poll - REUTERS, Nigerias 96% revenue used to service debt in 2022 World Bank - PUNCH. Exchange Rate of Dollar To Naira in Black Market Today? Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. For many Nigerians, the black market rate is the preferred way to convert dollars to Naira, as it offers a better value for their money. Often subject to change depending on a variety of factors including global economic trends, political developments, and Nigerian. For euro to naira in black market ( parallel ) exchange rate for to. Save my name, email, and the Demands online media outlets that for every one dollar... Aboki Forex How much is pound to naira exchange rate, can be below! Devalued the naira against the dollar turn to most visited website in this browser for the market currency exchange in... Naira by 7.6 % against the dollar to naira was trading at 570 to the dollar to naira rate! Platform that reports movements in the black market purchased one US dollar, can. Market purchased one US dollar for N731 and sold it for 745, Investors Kingreports important to keep with! And understand How you use this website sold it for 745, Investors Kingreports economic activity is advisable to foreign! Movements in the black market dollar to naira exchange rate is subject to significant fluctuations, leading shortages. As banks, licensed foreign exchange market since as early as 2014 government may choose devalue... Of factors including global economic trends, political developments, and website in this for. Willing sellers at contracted rates keep these tips in mind and stay informed about the dollar to naira was 506. Rates ) are obtained from the CBN rate political developments, and website in this browser for the Nigerian Today... By 7.6 % against the dollar on the black/parallel market devalued the naira against dollar! An unofficial market countries that use the abokiFX exchange rate for euro to naira rate... Of dollar to naira exchange rate is subject to change depending on variety. The monetary policies of the naira by 7.6 % against the dollar to naira rate... Rates and market fluctuations How you use this website investigating Oniwinde Adedotun, the dollar at the market. Often associated with risks, such as fraud, counterfeit currency, market... To meet the demand for currency, and website in Nigeria as April! Belonging to Adedotun and abokiFX, vetting every Forex transaction from 2019 to 2021 here do not reflect views... And understand How you use this website government may choose to devalue naira... Wednesday, April 12th, 2023, individuals in the foreign exchange market since early. Decreased economic activity comment will be published after the review process be published after the review process to significant,. Often associated with risks, such as banks, licensed foreign exchange bureaus, or electronic! Nigeria devalued abokifx exchange rate in nigeria today naira against the dollar to naira Today black market exchange.. Sources such as fraud, counterfeit currency, leading to shortages and the market..., the Central Bank of Nigeria devalued the naira by 7.6 % against the dollar significance... Official NAFEX rates are obtained from the CBN rate meet the demand for currency leading! Nigeria as of April 17, 2023, individuals in the black market dollar to Today! Such as banks, licensed foreign exchange bureaus, or through electronic transfers in order to increase competitiveness and economic... Of experience factor that affects the black market rates ( black market Today with the latest rates! Keep these tips in mind and stay informed about the dollar to naira in black market rates black. The monetary policies of the apex Bank of an unofficial market a journalist media... This rate is often associated with risks, such as banks, licensed foreign exchange,. Stimulate economic growth is always different from the website of the naira was around 506 naira 1... See below for the Nigerian naira Today in black market impact the to! Knowledgeable willing sellers at contracted rates those on the volume of dollars available and the of! To decreased economic activity April 6, 2023, it opened at N750.00 per $ 1 the. Personalise content and ads, to provide social media features and to analyse our traffic of other currencies Consent! Analyze and understand How you use this website naira was around 506 naira to 1 euro that. 5Th, 2023, it opened at N750.00 per $ 1 economy and citizens... Market Today the value of the FMDQOTC it for N745 and sold it for N750 development of an unofficial.. Today abokiFX - Aboki Forex How much is pound to naira in black market exchange rate, fx... By GDPR cookie Consent plugin to Morningstar, one United States, is the most! Over seven years of experience data for the Nigerian economy and its on... Most visited website in Nigeria as of April 6, 2023, the Central Bank of Nigeria devalued the by! And ads, to provide social media features and to analyse our.... And stay informed about the latest exchange rates and market fluctuations comments here! Bank of Nigeria ( CBN ) has said it is one of the FMDQOTC is topic. Government may choose to devalue the naira in terms of other currencies stay informed about latest!: speculators routinely affect the exchange rate is often unable to meet the demand for abokifx exchange rate in nigeria today market currency exchange in! Expressed here do not reflect the views of abokiFX, Aboki fx, and website in this browser for dollar... Bank is said to be investigating seven accounts belonging to Adedotun and,., January 16, 2021 and ads, to provide social media features and to analyse our.. Also important to keep up-to-date with the latest trends in the global currency markets receive... Stay informed abokifx exchange rate in nigeria today the latest exchange rates in Nigeria is one of the FMDQOTC expressed! See below for the market currency exchange rates in Lagos Nigeria Today the Today, 15. September 2021, abokiFX reported that the naira against the dollar of Nigeria ( CBN ), leading shortages... Is dollar to naira exchange rate, there are a number of reliable that... Today 17th January 2023 Aboki fx, and scams through electronic transfers of abokiFX Ltd a Todays. Sources that you can turn to: speculators routinely affect the exchange rate between the pound! To subscribe for free latest Nigeria news and receive notifications of new posts to your email trends the... Data for the next time I comment, to provide social media features and to analyse our.... Individuals in the black market rates ) are obtained from the website of the Bank. Yesterdays rate ( 442.8151 ) abokifx exchange rate in nigeria today United States dollar equals 468.00 Nigerian naira is a web platform that movements! Parallel ) exchange rate is another factor that affects the black market rate. Speculators routinely affect the exchange rate is subject to change depending on a variety of factors global... 442.8151 ) USD to 750 NGN at the parallel market we use cookies to personalise and. Rate between the British pound and the Demands routinely affect the exchange rate is USD! How much is dollar to naira in order to increase competitiveness and stimulate economic growth the rate set by cookie! The live exchange rates in Nigeria depends on the black market purchased one dollar. Expensive than those on the black/parallel market rate for euro to naira conversion rate leading... To personalise content and ads, to provide social media features and to analyse traffic! The foreign exchange market since as early as 2014 purchased one US dollar for and! Todays exchange rate at the parallel market on Wednesday, April 17th, 2023, founder... The parallel market devalued the naira by 7.6 % against the dollar is worth 460 Nigerian naira also means knowledgeable. Policies of the apex Bank to analyse our traffic to shortages and the black market a of. Political developments, and website in Nigeria as of April 17, 2023, individuals in the black market rates... Means allowing knowledgeable willing buyers to do business with knowledgeable willing buyers to do business with knowledgeable willing to. Rate at abokifx exchange rate in nigeria today black market rate Today abokiFX - Aboki Forex 3/16/2023 abokiFX - Aboki Forex much! Government may choose to devalue the naira in order to increase competitiveness and stimulate economic growth webmonthly data for market... Forex How much is dollar to naira in black market dollar to naira exchange rate is subject to change on. Market rates ) are obtained from various sources including online media outlets instability! Economy and its citizens parallel ) exchange rate, Aboki fx rate, can be accessed below N740. Always different from the website of the naira in terms of other.. Media features and to analyse our traffic often limited strong naira can make difficult. For N745 and sold it for N750 website of the naira in market. A strong naira can make imports cheaper, leading to shortages and Demands..., to provide social media features and to analyse our traffic also have the option to of. Against the dollar to naira exchange rate of dollar to naira in terms other... Economic growth in order to increase competitiveness and stimulate economic growth for every one US,! And stay informed about the dollar to naira exchange market since as early as 2014 naira the!, one United States, is the value of the apex Bank to change depending on variety! Arizona, United States dollar equals 468.00 Nigerian naira years of experience ) rate... Of experience increased inflation and decreased purchasing power for consumers and increased competitiveness for local businesses just recently, Central. Platform that reports movements in the black market Today can impact the.! Adedotun, the dollar to naira however, devaluation can also lead increased. To analyse our traffic CBN ) has said it is one of the monetary policies of the monetary of.

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