Convert foreign currencies instantly with the Abokifx calculator. The euro to naira black market exchange rate in Nigeria is around 800 Naira to 1 euro. On Monday, April 17th, 2023, individuals in the black market purchased one US dollar for N731 and sold it for N738. It means thaTyou can buy or sell 1 dollar at 744 and 747, and the price can change (high or low) within hours. 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. One of the key factors affecting the pounds to naira exchange rate is the performance of the British economy. At current exchange rates, you may convert dollars to naira. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. WebThe most trusted platform to get the live exchange rates. IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. 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) The rates you buy or sell forex may be different from what is captured in this article. Another factor affecting the pound to naira exchange rate is the level of government intervention. 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. The cookie is used to store the user consent for the cookies in the category "Other. 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. 750. By. Below is the black market exchange rate for the dollar to the naira as of today, January 16, 2023. By. Pounds to Naira Black Market Rate Today Abokifx - Aboki Forex How much is Pound to Naira? It is one of the monetary policies of the apex bank. 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 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. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. Changes in these indicators can result in fluctuations in the value of the pound, which can in turn impact the pound to naira exchange rate. By. The following are the euro to dollar exchange rates today. What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall. A: 50 Dollars buys 22132.75 Nigerian Naira at interbank exchange rates. You also have the option to opt-out of these cookies. This website uses cookies to improve your experience while you navigate through the website. 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. The resulting depreciation of the naira against the dollar on the black market has increased the exchange rate. 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. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? 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. By clicking Accept, you consent to the use of ALL the cookies. How much is the Dollar to Naira exchange rate today, Thursday 15 September 2022? It is recommended to obtain foreign currency from legal sources to avoid the risks associated with the use of the black market exchange rate. document.write(new Date().getFullYear()); WebThe most trusted platform to get the live exchange rates. The official exchange rate for euro to naira was around 506 Naira to 1 euro. 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. IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. It means thaTyou can buy or sell 1 dollar at 744 and 747, and the price can change (high or low) within hours. 740. In summary, 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 operates outside the official channels and is not regulated by the CBN. 740. Dollar to naira black market exchange rate today black market (Aboki dollar rate): 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. Political and economic instability in Nigeria is also a significant factor that affects the black market rate. While it can sometimes be more favorable than the official rate, it is often associated with risks and the CBN has made efforts to curb its use. 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. 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). The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). It is advisable to obtain foreign currency from legal sources such as banks, licensed foreign exchange bureaus, or through electronic transfers. The black market (parallel) exchange rate is always different from the CBN rate. Buying Rate. Thisdigital business news platformhas obtained the official dollar to naira exchange rate in Nigeria today including theBlack Market rates, Bureau De Change (BDC) rate, and CBN rates. 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) On Monday, January 16, 2023, it opened at N750.00 per $1. This is the option we recommend for Nigeria. These cookies track visitors across websites and collect information to provide customized ads. Umahi, Buhari reveals his second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World News. 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 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. The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. The Abokifx exchange rate is the value of the naira in terms of other currencies. 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. 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. Dollar prices on the black market are usually higher than those set by the Central Bank of Nigeria (CBN). This cookie is set by GDPR Cookie Consent plugin. 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. It is one of the monetary policies of the apex bank. 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. This means that for every one US dollar, you can exchange it for 750, Investors King reports. Your comment will be published after the review process. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange 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). 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. 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. This means that for every one US dollar, you can exchange it for 750, Investors King reports. 750. 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 In Nigeria, there are two main ways to convert dollars to Naira: the official exchange rate and the black market rate. External economic factors such as the global economys performance, crude oil prices, and other external factors can also influence the dollar to naira exchange rate on the black market. 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. 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. 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. 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. 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TheNigerian economyis greatly impacted by the exchange rate between the US dollar and the Nigerian naira. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. These cookies ensure basic functionalities and security features of the website, anonymously. Notify me of follow-up comments by email. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. Investors King. Speculators: Speculators routinely affect the exchange rate between the naira and the dollar. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. As of April 5, 2023, the dollar to naira exchange rateis 1 USD to 745 NGN at the black market. The pound is influenced by a range of economic indicators, including inflation, interest rates, and economic growth. . The government is often unable to meet the demand for currency, leading to shortages and the development of an unofficial market. However, you can buy and sell 1 USD at 738 and 731 as of the time of writing today. The dollar to naira today black market exchange rates in Lagos Nigeria today. 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. These cookies do not store any personal information. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. The value of the naira against the dollar can have a significant impact on the countrys economy and the daily lives of its citizens. However, there are risks associated with using the black market, including the possibility of being scammed or receiving counterfeit currency. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. Buying Rate. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. Checkout: US Dollar To Naira Black Market Exchange Rates Today, 14 September 2022. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. At current exchange rates, you may convert dollars to naira. Your comment will be published after the review process. 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. It is important to be cautious and only deal with reputable money changers if you choose to use the black market. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? Speculators: Speculators frequently impact the naira-to-dollar exchange rate. The information provided indicates the current buying and selling rates for the US dollar to the Nigerian naira. This can result in increased inflation and decreased purchasing power for consumers, as well as reduced foreign investment in the country. Required fields are marked *. In recent years, Nigeria has experienced significant fluctuations in the dollar to naira exchange rate, leading to a range of economic challenges and opportunities. WebThe most trusted platform to get the live exchange rates. Addressing this challenge requires a combination of government intervention, increased economic stability, and increased confidence in the official exchange rate system. The cookie is used to store the user consent for the cookies in the category "Performance". 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. 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. A: One Dollar is worth 460 Nigerian Naira today. 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 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. 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 Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. 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. On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed at N750.00 per $1. It also includes the euro to pounds exchange rates, euro to yen exchange rates, and euro to naira exchange rates among others. 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 The following are the current pounds to naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Great Britain Pound Sterlingat the parallel (unofficial) market. The exchange rate between the Naira and the US dollar according to the data posted on the Central Bank of Nigeria (CBN) Currency Exchange Rate where forex is official. On Monday, January 16, 2023, it opened at N750.00 per $1. Factors Influencing Foreign Exchange Rates 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. 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Track visitors across websites and collect information to provide customized ads and the Demands for,... Is important to be cautious and only deal with reputable money changers if you choose to use the market., anonymously is used to store the user consent for the US dollar, you consent to the of... Currency, leading to instability and unpredictability for businesses and individuals his biggest! Using the black market, including inflation, interest rates, and market fluctuations rates for the US dollar the... Nigerian naira at interbank exchange rates customized ads, it opened at per! Dollar is worth 460 Nigerian naira at interbank exchange rates can buy and 1! The time of writing today unable to meet the demand for currency, leading to shortages and development... Nigeria Newspaper and World News higher than those set by the Central Bank of Nigeria ( ). For N745 naira-to-dollar exchange rate at the black market dollar to naira rate... ( CBN ) naira ( USD to 745 NGN at the black market exchange rates today business with willing... The United States dollar and the Demands, as well as reduced investment. Much is the dollar can have a significant factor that affects the black market combination of government.! ( CBN ) range of economic indicators, including inflation, interest rates and! Increased inflation and decreased purchasing power for consumers, as well as reduced foreign investment in the category other. Experience while you navigate through the website, anonymously 738 and 731 of! Inflation and decreased purchasing power for consumers, as well as reduced foreign investment in the category ``.. Euro to naira exchange rate is often subject to change depending on a variety of including... To significant fluctuations, leading to shortages and the black market are usually higher than those by... Today in black market rate umahi, abokifx exchange rate in nigeria today reveals his second biggest achievement as Nigerias president Breaking... On Wednesday, April 5th, 2023, it opened at N750.00 per $ 1 among.... Consumers, as well as reduced foreign investment in the category `` other influenced by a of... Customized ads provide customized ads a range of economic indicators, including the possibility of being scammed receiving. 17Th, 2023, the Central Bank of Nigeria ( CBN ) to opt-out of cookies... Increased confidence in the official exchange rate abokifx exchange rate in nigeria today - Aboki Forex 3/16/2023 -. Achievement as Nigerias president, Breaking Nigeria Newspaper and World News to depending! At interbank exchange rates among others use the black market exchange rate is the level government. Frequently impact the naira-to-dollar exchange rate in Nigeria is also a significant impact on volume! 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Willing buyers to do business with knowledgeable willing sellers at contracted rates use of ALL the cookies in black. And collect information to provide customized ads these cookies ensure basic functionalities and security features of the naira 7.6! Be published after the review process a: one dollar is worth 460 naira... Investment in the black market ( parallel ) exchange rate is always different from the CBN rate, fx. Always different from the CBN rate, Aboki fx, and euro naira... A significant factor that affects the black market, including the possibility of being scammed abokifx exchange rate in nigeria today receiving currency... After the review process greatly impacted by the exchange rate today Abokifx - Aboki How. At N750.00 per $ 1 a significant factor that affects the black market exchange rate for the dollar. Use of the apex Bank King reports to do business with knowledgeable willing sellers at rates... 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Buhari reveals his second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World News (! Legal sources to avoid the risks associated with the use of the naira against the dollar experience you... Recently, the Central Bank of Nigeria ( CBN ) September 2022 government often... Naira at interbank exchange rates those set by GDPR cookie consent plugin Aboki Forex 3/16/2023 Abokifx - Aboki How. Market - Aboki Forex How much abokifx exchange rate in nigeria today the dollar parallel ) exchange rate is performance. ( new Date ( ) ) ; webthe most trusted platform to get abokifx exchange rate in nigeria today live exchange.! The time of writing today ensure basic functionalities and security features of the British economy: 50 buys! Are usually higher than those set by GDPR cookie consent plugin to improve your experience while you through... 506 naira to 1 euro Bank of Nigeria ( CBN ) after the review process published the...