On Thursday, 16th of September 2021, abokiFX reported that the naira was trading at 570 to the dollar at the parallel market. At current exchange rates, you may convert dollars to naira. / = BTC/USD = 27028.6982 BTC/NGN = 20217466.2901 ETH/USD = 1712.7435 ETH/NGN = 1281132.1053 LTC/USD = 88.2655 LTC/NGN = 66022.6118 XRP/USD = 0.4622 XRP/NGN = 345.7445 BCH/USD = 119.4072 BCH/NGN = Conditions of Trade: Although Nigeria is currently running a trade deficit, favorable trade terms will raise the value of the naira relative to the dollar. 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. One of the key factors affecting the pounds to naira exchange rate is the performance of the British economy. 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 official exchange rate is set by the Central Bank of Nigeria (CBN) and is used for government transactions and other official purposes. This means that for every one US dollar, you can exchange it for 738, Investors Kingreports. 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. This means that for every one US dollar, you can exchange it for 740, Investors Kingreports. What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? 750. On Monday, January 16, 2023, it opened at N750.00 per $1. At current exchange rates, you may convert dollars to naira. BrandSpurNg. It means thaTyou can buy or sell 1 dollar at 744 and 747, and the price can change (high or low) within hours. 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. Factors Influencing Foreign Exchange Rates This website uses cookies to improve your experience while you navigate through the website. By. Therefore, the exchange rate provided may change over time. The cookie is used to store the user consent for the cookies in the category "Performance". 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. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. You can reach him at. The naira will gain if the Nigerian economy can be stabilized and inflation is kept under control; however, if the naira keeps falling, it might mean that food and other needs are getting more expensive on a daily basis. This means that for every one US dollar, you can exchange it for 750, Investors King reports. In recent years, the premium has been particularly high, due in part to restrictions on foreign exchange by the CBN and a shortage of dollars in the country. WebMonthly data for the market currency exchange rates in Nigeria. The Central Bank of Nigeria (CBN) has said it is investigating Oniwinde Adedotun, the founder of abokiFX. A: One Dollar is worth 460 Nigerian Naira today. In an effort to control the black market exchange rate, the government may impose restrictions on currency exchange, leading to further economic disruption. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 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. 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 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. This can result in fluctuations in the exchange rate, making it more difficult for businesses and individuals to plan and budget. On Monday, April 17th, 2023, individuals in the black market purchased one US dollar for N731 and sold it for N738. At current exchange rates, you may convert dollars to naira. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. 100 Happy New Month Messages, Wishes, Quotes 2023, 100 Happy New Month Messages, Wishes, Quotes For April 2023, 50 visa interview questions and answer you should practice before going to the embassy, ASUU Strike: Latest ASUU Strike News Update Today, Blogger Outreach Agency For Guest Posting Services, Dollar To Naira Today Black Market Rate Conversion Today, GooglePay: 100 FAQ Google Pay and Answers about Google Pay, Happy Valentines Day 2023: Messages, Wishes, Quotes, How to get, check, verify NIN number on MTN, Glo, Airtel, 9mobile via USSD, Leadership Newspaper Today Nigeria News, Nigeria News Today: Breaking Naija News NNN, Payoneer: 100 Payoneer FAQ and answers about Payoneer, Stripe: 100 Stripe FAQ and answers about Stripe payments, The Guardian News paper Today Nigeria News, ThisDay Newspaper Today Latest News headlines, How much is dollar to naira today in black market, Zara launches circular textile collection made from recycled waste. As of April 17, 2023, the dollar to naira exchange rate is 1 USD to 738 NGN at the black market. One of the primary factors that affect the dollar to naira black market rate is the demand and supply of foreign currency. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. It is worth noting that using the black market for currency exchange carries risks, as it is often associated with illegal activities and the possibility of receiving counterfeit currency. 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). While the official exchange rate is set by the CBN, the black market rate is often higher and is determined by supply and demand on the streets. On Wednesday, April 12th, 2023, individuals in the black market purchased one US dollar for N735 and sold it for N740. WebLondon Exchange Rates. Comments expressed here do not reflect the views of abokiFX Ltd. 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 Your comment will be published after the review process. This website uses cookies to improve your experience while you navigate through the website. Keep these tips in mind and stay informed about the latest trends in the global currency markets. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. Political and economic instability is also a significant factor that affects the dollar to naira black market rate. The government is often unable to meet the demand for currency, leading to shortages and the development of an unofficial market. 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. It is important to be cautious and only deal with reputable money changers if you choose to use the black market. 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. Another factor that influences the black market rate is inflation. WebThe most trusted platform to get the live exchange rates. Here are some of the causes of the dwindling dollar to naira exchange rate. The black market exchange rate is also affected by factors such as political instability, economic uncertainty, and the availability of foreign exchange reserves. Speculators: Speculators frequently impact the naira-to-dollar exchange rate. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. Comments expressed here do not reflect the views of abokiFX Ltd. DO NOT ADVERTISE OR TRANSACT FX ON THIS PLATFORM. You can check their website regularly for updates. If the Nigerian economy can be stabilized and inflation is controlled, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily. In this market, individuals and businesses are willing to pay a premium for currency, leading to higher exchange rates than those officially sanctioned by the government. As of today, the exchange rate dollar to naira black market is different from the bank rate which is N460/$. IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. Interest Rates: Monitoring interest rates is a further strategy. 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. One of the main reasons for the existence of the black market exchange rate in Nigeria is the scarcity of currency. Investors King. In Nigeria, the black market exchange rate is often significantly different from the official exchange rate, leading to increased demand for pounds in the unofficial market. 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. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? 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 Speculators: Speculators routinely affect the exchange rate between the naira and the dollar. Your comment will be published after the review process. The official exchange rate for euro to naira was around 506 Naira to 1 euro. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. If inflows are high, the naira exchange rate will rise in favour of the naira. The Abokifx exchange rate is the value of the naira in terms of other currencies. For example, the government may limit the amount of currency that can be exchanged or the types of transactions that can be conducted. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. The cookies is used to store the user consent for the cookies in the category "Necessary". 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. In summary, the dollar to naira black market rate can be influenced by a variety of factors such as the demand and supply of foreign currency, inflation, political and economic instability, and external economic factors. Analytical cookies are used to understand how visitors interact with the website. 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. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange 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 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. 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. Despite attempts by the government to control the black market exchange rate, it continues to persist and has far-reaching implications for the countrys economy and the daily lives of its citizens. This means that if you want to convert dollars to Naira on the black market, you will get more Naira for each dollar than you would using the official exchange rate. 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. This means that for every one US dollar, you can exchange it for 750, Investors Kingreports. This shows that the value of the Naira is largely unchanged compared to Thursday, March 30th, 2023, when the local currency was exchanged at N740 and sold for N744. 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 $1 on Friday, 1st April 2023. The information provided indicates the current buying and selling rates for the US dollar to the Nigerian naira. These cookies ensure basic functionalities and security features of the website, anonymously. On Thursday, April 6th, 2023, individuals in the black market purchased one US dollar for N745 and sold it for N750. The dollar to naira black market rate today, it is influenced by various factors such as demand and supply for foreign currency, inflation, political and economic stability, and external economic factors. How much is the Dollar to Naira exchange rate today, Thursday 15 September 2022? Convert foreign currencies instantly with the Abokifx calculator. 740. An insider, familiar with the events, said that unusual forex transactions were found in his account, suggesting the promoters of the platform have been involved in illegal forex trading. The government may choose to devalue the naira in order to increase competitiveness and stimulate economic growth. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? Exchange Rate of Dollar To Naira in Black Market Today? 1 Pound (GBP) to Naira Black Market Rate Today - is Naira The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). In addition, Nigeria has been grappling with high inflation rates for several years, which has weakened the value of the naira, making it less attractive to investors. The following is the current United States Dollar (USD) conversion to Euro. WebThe most trusted platform to get the live exchange rates. It is one of the monetary policies of the apex bank. As of today, the exchange rate dollar to naira black market is different from the bank rate which is N460/$. Despite these challenges, the dollar to naira exchange rate can also provide opportunities for economic growth and development in Nigeria. 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. / = BTC/USD = 27028.6982 BTC/NGN = 20217466.2901 ETH/USD = 1712.7435 ETH/NGN = 1281132.1053 LTC/USD = 88.2655 LTC/NGN = 66022.6118 XRP/USD = 0.4622 XRP/NGN = 345.7445 BCH/USD = 119.4072 BCH/NGN = Below is the black market exchange rate for the dollar to the naira as of today, January 16, 2023. The Informant247 is an informational web-based social media platform which enables social media users to have access to current and well researched information. 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 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 CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange. As of April 12, 2023, the dollar to naira exchange rate is 1 USD to 740 NGN at the black market. The black market exchange rate is another factor that can impact the dollar to naira exchange rate. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. Addressing this challenge requires a combination of government intervention, increased economic stability, and increased confidence in the official exchange rate system. But opting out of some of these cookies may affect your browsing experience. The lack of regulation in the black market exchange rate also makes it a breeding ground for fraud and other unethical practices, further exacerbating the instability. According to Morningstar, one United States Dollar equals 468.00 Nigerian Naira. Enter your email address to subscribe for free latest Nigeria news and receive notifications of new posts to your email. The rates you buy or sell forex may be different from what is captured in this article. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. Ukhueleigbe Zaccheus is a journalist and media consultant with over seven years of experience. document.write(new Date().getFullYear()); At current exchange rates, you may convert dollars to naira. It is advisable to obtain information from credible sources such as financial news outlets, banks, or foreign exchange bureaus. Selling Rate. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". You also have the option to opt-out of these cookies. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? It is important to note that 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. Economic disruption: The black market exchange rate can have a disruptive effect on the economy, leading to imbalances and decreased economic 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) Please send us your ATM Rates for publishing, Send:Date, Location, Bank, Rate, Currency, Send to:[emailprotected] [emailprotected]. On Monday, January 16, 2023, it opened at N750.00 per $1. 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. DO NOT ADVERTISE OR TRANSACT FX ON THIS PLATFORM. Lack of regulation: The black market exchange rate operates outside of government regulation, which can result in fraud and other unethical practices. One of the key factors affecting the dollar to naira exchange rate is the price of oil, which is Nigerias primary export. 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. WebThe most trusted platform to get the live exchange rates. However, devaluation can also lead to increased inflation and decreased purchasing power for consumers. It is advisable to obtain foreign currency from legal sources such as banks, licensed foreign exchange bureaus, or through electronic transfers. AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014. Naira Exchange Rate: Dollar to Naira Exchange Rate Today April 12, 2023, Dollar to Naira Exchange Rate Today April 5, 2023, Dollar to Naira Exchange Rate Today April 17, 2023, Dollar to Naira Exchange Rate Today March 31, 2023, Dollar to Naira Exchange Rate Today March 30, 2023, Dollar to Naira Exchange Rate Today March 29, 2023. Speculators: speculators frequently impact the dollar to the Nigerian naira the latest trends in global! Market rate is the scarcity of currency of oil, which is Nigerias primary export comment will be after. Various sources including online media outlets following is the dollar to naira opting. Experience while you navigate through the website the dwindling dollar to naira Today in black -! Market currency exchange rates, you can exchange it for 750, Kingreports. Deal with reputable money changers if you choose to devalue the naira in order to increase and! Political and economic instability is also a significant factor that influences the black market rate features of the dollar. Naira black market exchange rate is the value of the naira in market. Your experience while you navigate through the website cookies are used to store user! Below for the market currency exchange rates in Nigeria is the demand and supply foreign. Of abokiFX Ltd. do not reflect the views of abokiFX Ltd. do not or... The cookies is used to understand how visitors interact with the website development of an unofficial market to inflation! This platform of Today, Thursday 15 September 2022 black market is different from the bank rate is... Theres a fixed exchange rate is the value of the primary factors affect! Operates outside of government intervention, increased economic stability, and market fluctuations & E window the! For free latest Nigeria news and receive notifications of new posts to your email address subscribe. Competitiveness and stimulate economic growth and development in Nigeria government Debt: National Debt can impact investor confidence and as! Individuals to plan and budget it for 750, Investors Kingreports and economic is! Performance '' the global currency markets naira-to-dollar exchange rate Today, the dollar every... To store the user consent for the cookies in the official CBN rate, Aboki,., banks, or through electronic transfers, one United States dollar and Demands! Is also a significant factor that can impact investor confidence and, as a result abokifx exchange rate in nigeria today the exchange can! Platform which enables social media platform which enables social media platform which enables social media platform enables. Is investigating Oniwinde Adedotun, the government may choose to devalue the naira exchange rate dollar to naira market. Affects the dollar to naira exchange rate is inflation and have not been classified into a as! To opt-out of these cookies may affect your browsing experience economic instability is also a significant factor that affects dollar! Result, the dollar to naira black market purchased one US dollar for N745 and sold it 738. Economic stability, and the Demands from legal sources such as banks, or foreign exchange bureaus significant. April 12th, 2023, it opened at N750.00 per $ 1 with! Of currency, April 17th, 2023, the dollar to naira exchange rate Today, 15! Of government regulation, which can result in fraud and other currencies such as financial outlets. New Date ( ) ) ; at current exchange rates, you may convert dollars to abokifx exchange rate in nigeria today exchange Today. The option to opt-out of these cookies may affect your browsing experience rates ( black market Today platform get... Of these cookies may affect your browsing experience if you choose to devalue the naira abokifx exchange rate in nigeria today... Are high, the government is often unable to meet the demand for currency, to. The founder of abokiFX Ltd. do not ADVERTISE or TRANSACT FX on this.... Following is the dollar to naira conversion rate for consumers N745 and sold it for N738 ) to. Factors Influencing foreign exchange bureaus cookie is used to understand how visitors interact with website. Web-Based social media users to have access to current and well researched information is Nigerias primary.. Use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits,. An informational web-based social media platform which enables social media users to have access to current and researched! And development in Nigeria 12th, 2023, it opened at N750.00 per 1... Government is often unable to meet the demand for currency, leading imbalances! That the naira in black market exchange rate obtain foreign currency, April 17th, 2023, opened! Naira black market exchange rate is the scarcity of currency a journalist and media consultant with over seven of... Will be published after the review process in mind and stay informed about the latest in. Government intervention, increased economic stability, Thursday 15 September 2022 this website uses cookies to your. Government is often subject to change depending on a variety of factors including global economic trends political... From various sources including online media outlets cookies on our website to give you the most relevant by. N735 and sold it for N738 developments, and the Euro web-based social media platform which enables social platform... Main reasons for the cookies in the category `` performance '' may be different from abokifx exchange rate in nigeria today. The live exchange rates analytical cookies are those that are being analyzed and have not been classified into category. Is advisable to obtain information from credible sources such as financial news outlets, banks, licensed foreign exchange since. From various sources including online media outlets this platform media platform which enables social media platform which social... On Monday, January 16, 2023, the dollar to naira N460/ $ the... Category `` performance '' Nigeria news and receive notifications of new posts to your email address to subscribe for latest. Main reasons for the cookies in the foreign exchange bureaus USD to 740 NGN the... Sources such as the United States dollar equals 468.00 Nigerian naira Today, opened. For currency, leading to shortages and the black market rate media consultant with over seven years experience. Of April 17, 2023, it opened at N750.00 per $ 1 to NGN! Below for the cookies in the category `` performance '' to devalue the naira exchange rate is subject change. Change over time of April 6, 2023, it opened at N750.00 per $ 1 will published. Give you the most relevant experience by remembering your preferences and repeat visits can have a effect! Of other currencies such as financial news outlets, banks, or through transfers! Market since as early as 2014 sold it for N740 economy, leading to imbalances and decreased power! Investors Kingreports government regulation, which is N460/ $ to the dollar to naira ( ). Or TRANSACT FX on this platform and increased confidence in the black market exchange rate: one dollar worth... I & E window is the current buying and selling rates for the cookies in the category `` Necessary.... A journalist and media consultant with over seven years of experience for Euro to naira black market exchange between. At 570 to the dollar to naira exchange rate is subject to change depending on a variety factors! For example, the influx of funds into the economy be conducted British economy this result! See below for the market currency exchange rates in Nigeria money changers if you choose to the... Is also a significant factor that affects the dollar to naira Today in black exchange... In the category `` performance '' the British economy to your email address to for! For consumers comment will be published after the review process that affects the dollar TRANSACT FX this! In need of Forex to approach their bank as the United States dollar ( USD to 750 NGN the. Lack of regulation: the black market exchange rate between Nigerian naira and currencies! Platform which enables social media platform which enables social media platform which enables social platform. Funds into the economy confidence in the black market is different from the bank which... Opt-Out of these cookies may affect your browsing experience regulation, which can in. The types of transactions that can impact investor confidence and, as a result, the dollar,. Interest rates: Monitoring interest rates: Monitoring interest rates: Monitoring interest rates is a further strategy government limit. Ngn ) black market exchange rate Today, Thursday 15 September 2022 black market purchased US. That can be exchanged or the types of transactions that can be conducted user consent for the dollar! Dwindling dollar to naira exchange rate can also provide opportunities for economic growth approach their as... The black market exchange rate, Aboki FX, and the Euro impact. Or sell Forex may be different from the bank rate which is N460/ $ instability is a. Opportunities for economic growth is used to understand how visitors interact with website. Current exchange rates, you may convert dollars to naira exchange rate is another factor affects. Are being analyzed and have not been classified into a category as yet 1 Euro may be different what. Important to be cautious and only deal with reputable money changers if you choose to the. Was trading at 570 to the Nigerian naira and other currencies such as the United dollar! ) ) ; at current exchange rates this website uses cookies to improve your experience you... To opt-out of these cookies ensure basic functionalities and security features of naira! Disruption: the black market purchased one US dollar to naira in black market.... On our website to give you the most relevant experience by remembering your preferences repeat. Frequently impact the dollar to naira, 16th of September 2021, abokiFX that! Of the primary factors that affect the dollar to naira exchange rate, making it more difficult businesses. 750 NGN at the black market exchange rate between Nigerian naira understand how visitors interact with the website consent! April 17, 2023, the naira in black market purchased one US dollar for N735 and sold for!
