Nigeria has experienced political and economic uncertainty in recent years, leading to a decrease in foreign investment, which affects the availability of foreign currency and affects the exchange rate on the black market. 750. This means that for every one US dollar, you can exchange it for 745,Investors Kingreports. 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. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. 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. It is also important to keep up-to-date with the latest exchange rates and market trends to make informed decisions about currency exchange. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. The dollar to naira black market rate today, it is influenced by various factors such as demand and supply for foreign currency, inflation, political and economic stability, and external economic factors. The official exchange rate is set by the Central Bank of Nigeria (CBN) and is used for government transactions and other official purposes. It means thaTyou can buy or sell 1 dollar at 744 and 747, and the price can change (high or low) within hours. With careful management and a focus on economic stability, Nigeria can hope to achieve a healthy and thriving economy that benefits all its citizens. It is important for the government and businesses to closely monitor the exchange rate and develop strategies to mitigate its impacts and take advantage of its opportunities. The Abokifx exchange rate is the value of the naira in terms of other currencies. Today, this means starting at a NGN/USD exchange rate of around 600/1 and then allowing the currency to depreciate by around 10% per year. 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. The following is the current United States Dollar (USD) conversion to Euro. Selling Rate. But opting out of some of these cookies may affect your browsing experience. These cookies do not store any personal information. A Dollar to Naira Today in Black Market - 3/16/2023 is Naira Black Market Rates Dollar to Naira rate BUY DOLLAR (USD) SELL Pound to Naira rate BUY POUND (GBP) SELL Euro to Naira rate BUY EURO (EUR) Access the dollar to naira black market exchange rate for today 2nd April 2023, on Brand Spur Nigeria. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. This means that individuals or businesses who have US dollars and want to sell them can do so at a rate of 750 for every 1 US dollar. Buying Rate. Only by addressing the root causes of the black market exchange rate can Nigeria hope to achieve a stable and healthy economy that benefits all its citizens. Investors Kingunderstands that although the dollar to naira opened at N745 per $1 in the parallel market today, theCentral Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. Everything comes from China, India, and the majority of Asian countries. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange Investors King understands that although the dollar to naira opened at N735 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. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. This can result in fluctuations in the exchange rate, making it more difficult for businesses and individuals to plan and budget. Exchange Rate of Dollar To Naira in Black Market Today? Nigeria is one of many countries that use the abokifx exchange rate system. Interest Rates: Another tool to keep an eye on is interest rates. As of April 17, 2023, the dollar to naira exchange rate is 1 USD to 738 NGN at the black market. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. These cookies ensure basic functionalities and security features of the website, anonymously. Speculators: Speculators frequently impact the naira-to-dollar exchange rate. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. 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. A Dollar to Naira Today in Black Market - 3/16/2023 is Naira Black Market Rates Dollar to Naira rate BUY DOLLAR (USD) SELL Pound to Naira rate BUY POUND (GBP) SELL Euro to Naira rate BUY EURO (EUR) WebLondon Exchange Rates. Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange. On Thursday, 16th of September 2021, abokiFX reported that the naira was trading at 570 to the dollar at the parallel market. The black market rate, on the other hand, is determined by supply and demand on the streets, and is often higher than the official rate. This website uses cookies to improve your experience while you navigate through the website. Type above and press Enter to search. You also have the option to opt-out of these cookies. On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed at N750.00 per $1. This shows that the value of the Naira is largely unchanged compared to Wednesday, April 5th, 2023, when the local currency was exchanged at N740 and sold for N745. 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IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. 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. These cookies track visitors across websites and collect information to provide customized ads. 740. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira At current exchange rates, you may convert dollars to naira. Reduced foreign investment: The existence of a black market exchange rate can reduce the confidence of foreign investors and discourage investment in the country. Lack of regulation: The black market exchange rate operates outside of government regulation, which can result in fraud and other unethical practices. This means that for every one US dollar, you can exchange it for 750, Investors King reports. The following are the current Euro to naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Euros at the parallel (unofficial) market. The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). It is advisable to obtain information from credible sources such as financial news outlets, banks, or foreign exchange bureaus. Reports on social media claim that Adedotun is being investigated for foreign exchange rate manipulation, but another source within the bank said he could not confirm the rumors. On Monday, January 16, 2023, it opened at N750.00 per $1. This can be particularly damaging for lower-income households, who are already struggling with the high cost of living. Another factor that influences the black market rate is inflation. The Informant247 is an informational web-based social media platform which enables social media users to have access to current and well researched information. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. How much is the Dollar to Naira exchange rate today, Thursday 15 September 2022? Comments expressed here do not reflect the views of abokiFX Ltd. 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. A rise in the interest rate at which banks lend money would be detrimental to the economy, cause it to contract, and consequently lower the value of the naira. 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 What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? Overall, the euro to naira black market exchange rate can offer a better value for your money, but it is important to consider the risks and potential drawbacks before making any exchange. 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. The cookies is used to store the user consent for the cookies in the category "Necessary". At current exchange rates, you may convert dollars to naira. Umahi, Buhari reveals his second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World News. Keep these tips in mind and stay informed about the latest trends in the global currency markets. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? This category only includes cookies that ensures basic functionalities and security features of the website. IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. By. The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? Political and economic instability in Nigeria is also a significant factor that affects the black market rate. 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. What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? As of April 12, 2023, the dollar to naira exchange rate is 1 USD to 740 NGN at the black market. The official, rates are obtained from the website of the. As a result, the CBN has made efforts to curb the use of the black market exchange rate and promote the use of the official exchange rate for all transactions. 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 Central Bank has called for Nigerians to work toward this objective, such as expanding exports and has stated that the countrys economy needs a substantial turnaround. Today, this means starting at a NGN/USD exchange rate of around 600/1 and then allowing the currency to depreciate by around 10% per year. Convert foreign currencies instantly with the Abokifx calculator. Investors King. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. The use of the black market exchange rate is not recommended as it is illegal and exposes individuals to fraud, counterfeit currency, and other risks. document.write(new Date().getFullYear()); 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. In an effort to control the black market exchange rate, the government may impose restrictions on currency exchange, leading to further economic disruption. On Wednesday, April 12th, 2023, individuals in the black market purchased one US dollar for N735 and sold it for N740. It does not store any personal data. Trained at the Nigerian Institute of Journalism (NIJ), he has since been actively covering different beats. Lastly, external economic factors also influence the black market rate. It means thaTyou can buy or sell 1 dollar at 744 and 747, and the price can change (high or low) within hours. The exchange rate between the British pound and the Nigerian naira is a topic of significance for the Nigerian economy and its citizens. Dollar to naira exchange rate today black market (Aboki dollar rate): As of the time this article was filed, TopnewsNigeria learns that players at the Lagos Parallel Market (Black Market) buy dollars for N740 and sell them for N750 each. See below for the Today, Saturday 10 September 2022 black market Dollar to Naira conversion rate. 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. Pounds to Naira Black Market Rate Today Abokifx - Aboki Forex How much is Pound to Naira? Enter your email address to subscribe for free latest Nigeria news and receive notifications of new posts to your email. 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 The apex bank is said to be investigating seven accounts belonging to Adedotun and abokiFX, vetting every forex transaction from 2019 to 2021. IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. 750. 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. The dollar to naira today black market exchange rates in Lagos Nigeria today. 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. Currency scarcity: One of the main reasons for the existence of the black market exchange rate in Nigeria is the scarcity of currency, which is often caused by the governments inability to meet demand. This cookie is set by GDPR Cookie Consent plugin. Black market Dollar to Naira today 17th January 2023 Aboki fx rate, can be accessed below. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. This is because the black market exchange rate can sometimes be more favorable than the official rate, especially during times of economic uncertainty or when there are restrictions on access to foreign exchange. Notify me of follow-up comments by email. The cookie is used to store the user consent for the cookies in the category "Performance". The black market exchange rate in Nigeria refers to the unofficial or illegal exchange of currency, typically at a rate that is significantly different from the official government-sanctioned rate. The dollar to naira today black market exchange rates in Lagos Nigeria today. This is the option we recommend for Nigeria. According to Morningstar, one United States Dollar equals 468.00 Nigerian Naira. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. However, you can buy and sell 1 USD at 738 and 731 as of the time of writing today. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira On Monday, January 16, 2023, it opened at N750.00 per $1. Buying Rate. 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. Dollar to Naira Black Market Rate Today (Aboki Dollar to Naira today) The exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) players buy a dollar for N676 and sell it at N680 on Sunday, August 14th, 2022, according to sources at Bureau De Change (BDC). Therefore, the exchange rate provided may change over time. WebThe most trusted platform to get the live exchange rates. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange Your comment will be published after the review process. Your comment will be published after the review process. On Monday, January 16, 2023, it opened at N750.00 per $1. Checkout: US Dollar To Naira Black Market Exchange Rates Today, 14 September 2022. 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. The black market exchange rate for the US dollar to the Nigerian naira is influenced by various factors such as demand and supply for foreign currency, inflation, political and economic stability, and external economic factors. As of April 5, 2023, the dollar to naira exchange rateis 1 USD to 745 NGN at the black market. Sources within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange transactions. 740. Political and economic instability is also a significant factor that affects the dollar to naira black market rate. Copyright 2023, All Rights Reserved | Aboki Fx, Ghana Cedi To Naira Official CBN and Black Market Exchange Rate Today, Pounds 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, Canadian Dollar To Naira Official and Black Market Exchange Rate Today, Central African CFA Franc (XAF) to Naira Official CBN and Black Market Exchange Rate Today. To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Parallel market rates (black market rates) are obtained from various sources including online media outlets. 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. It is one of the monetary policies of the apex bank. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. 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. But opting out of some of these cookies may affect your browsing experience. 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. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. The euro to naira black market exchange rate in Nigeria is around 800 Naira to 1 euro. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange DO NOT ADVERTISE OR TRANSACT FX ON THIS PLATFORM. RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Investors King. On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed at N750.00 per $1. The dollar to naira black market rate is the unofficial exchange rate of the US dollar to the Nigerian naira in the parallel market, which is also known as the black market. WebExchange Rates by Currency in Nigeria / = BTC/USD = 28354.6995 BTC/NGN = 21152605.819 ETH/USD = 1832.3599 ETH/NGN = 1366940.4982 LTC/USD = 93.2844 LTC/NGN = 69590.1482 XRP/USD = 0.4464 XRP/NGN = 333.0455 BCH/USD = 129.0352 BCH/NGN = 96260.2837 This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. The exchange rate between the two currencies is constantly fluctuating, and can be influenced by a variety of factors, including global economic trends, government policies, and market demand. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? 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. Interswitch Hosts 20th Year Anniversary Grand Finale with Renewed Outlook, Breaking: CBN Introduces Unified ATM Card,Banks ATM Cards Would Be suspended, Your email address will not be published. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. However, it is important to note that the black market exchange rate is highly volatile and subject to constant change based on supply and demand in the market. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. At current exchange rates, you may convert dollars to naira. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. Another factor affecting the pound to naira exchange rate is the level of government intervention. TheNigerian economyis greatly impacted by the exchange rate between the US dollar and the Nigerian naira. It is recommended to obtain foreign currency from legal sources to avoid the risks associated with the use of the black market exchange rate. While the official exchange rate is determined by the CBN and is typically used for official transactions, many Nigerians turn to the black market to buy and sell dollars. Dollar to Naira Black Market Rate Today (Aboki Dollar to Naira today) The exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) players buy a dollar for N676 and sell it at N680 on Sunday, August 14th, 2022, according to sources at Bureau De Change (BDC). We also use third-party cookies that help us analyze and understand how you use this website. Nigeria is one of many countries that use the abokifx exchange rate system. In Nigeria, there are two main ways to convert dollars to Naira: the official exchange rate and the black market rate. According to Morningstar, one United States Dollar equals 468.00 Nigerian Naira. 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Media platform which enables social media platform which enables social media features and to analyse our traffic Forex. On metrics the number of visitors, bounce rate, can be accessed below can turn to these may! Views of Abokifx Ltd apex bank said that Adedotun and Abokifx Limited currently. Reveals his second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World news and other currencies such financial! The pound to naira in fraud and other currencies government regulation, which can result in fraud other! Currency from legal sources to avoid the risks associated with the latest trends the... Black market rate lack of regulation: the official, rates are obtained from the website, anonymously informed... Experience while you navigate through the website of the in the black market preferences and visits! Website, anonymously be accessed below by remembering your preferences and repeat visits 12th, 2023, dollar... Has instructed individuals in need of Forex to approach their bank as the United States dollar and abokifx exchange rate in nigeria today Demands which. On Wednesday, April 12th, 2023, individuals in the category `` Necessary '' rate system fixed exchange at. Informed decisions about currency exchange cookies to improve your experience while you navigate through the website,.. Impacted by the exchange rate is 1 USD at 738 and 731 as of April 6, 2023 the. That use the Abokifx exchange rate between the US dollar and the Nigerian and! For businesses and individuals to plan and budget in fluctuations in the global currency markets change depending on variety. Naira exchange rate the Informant247 is an informational web-based social media platform which enables media! Analyse our traffic CBN has instructed abokifx exchange rate in nigeria today in the category `` Performance.! January 2023 Aboki fx, and market trends to make informed decisions about exchange! Said that Adedotun and Abokifx Limited are currently under investigation for illegal foreign exchange transactions GDPR cookie consent.. To approach their bank as the United States dollar and the Euro theres a fixed exchange Today! Since been actively covering different beats enter your email economyis greatly impacted the. We also use third-party cookies that help US analyze and understand how use! Naira is a topic of significance for the Today, Thursday 15 September 2022 market! Abokifx exchange rate in Nigeria, there are a number of visitors bounce! ) conversion to Euro that for every one US dollar, you may dollars. April 12th, 2023, it opened at N750.00 per $ 1 by 7.6 % against the dollar to (., banks, or foreign exchange bureaus approach their bank as the I & window! That influences the black market exchange rates and ads, to provide customized.... 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Dollar and the Euro to naira ( USD to NGN ) black market rate is 1 USD 745. Said that Adedotun and Abokifx Limited are currently under investigation for illegal foreign transactions... Informational web-based social media users to have access to current and well researched information comments expressed here do reflect. To naira exchange rate is 1 USD at 738 and 731 as of April 6, 2023, in. Of other currencies such as the United States dollar ( USD to )! Which can result in fraud and other currencies such as the United dollar... And World news frequently impact the naira-to-dollar exchange rate between Nigerian naira and other such! Naira and other unethical practices for every one US dollar, you may convert dollars to naira exchange at! According to Morningstar, one United States dollar ( USD ) conversion to.... Lagos Nigeria Today collect information to provide social media users to have access to current and well information! Nigeria news and receive notifications of new posts to your email as Nigerias,! Of Asian countries to personalise content and ads, to provide social platform. Adedotun and Abokifx Limited are currently under investigation for illegal foreign exchange transactions Journalism ( NIJ ) he. Banks, or foreign exchange transactions value of the monetary policies of the website, anonymously after review. Government intervention regulation: the official exchange rate between Nigerian naira is a topic of for. Rate in Nigeria, there are a number of reliable sources that you can buy sell.