This digital news platform has obtained the exchange rate of the dollar to naira black market today, September 29th, 2023 in Nigeria, including the official CBN rate.
How Much is Dollar To Naira Black Market Today 29th September, 2023
As of today Friday, September 29th, 2023, the naira continue to tumble in value with respect to the US dollar, exchanging at 1 USD to 1,008 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦1,000 and selling at N1,008. This is according to information gathered by QUICK LOAN ARENA from Aboki FX, an online portal that monitors dollar to naira exchange rate on a daily basis.. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N985 while the selling price is N995, leaving a N10 profit margin.
How Much is Dollar To Naira Black Market Today 29th September, 2023?
The dollar to naira black market exchange rate today Friday September 29th, 2023, trading opened with the naira exchanging at 1 USD to 1,008 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦1,000 and selling at N1,008, leaving a N8 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1,000 |
| Selling Rate | 1,008 |
How Much is Dollar To Naira Black Market Today 25th September, 2023
As of today Monday, September 25th, 2023, the naira continue to lose value with respect to the US dollar, exchanging at 1 USD to 995 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦985 and selling at N995. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N985 while the selling price is N995, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 985 |
| Selling Rate | 990 |
How Much is Dollar To Naira Black Market Today 22nd September, 2023
As of today Friday, September 22nd, 2023, the naira continue to lose value with respect to the US dollar, exchanging at 1 USD to 990 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦985 and selling at N990. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N985 while the selling price is N990, leaving a N5 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 985 |
| Selling Rate | 990 |
How Much is Dollar To Naira Black Market Today 21st September, 2023
The dollar to naira black market exchange rate today Thursday September 21st, 2023 opened with the naira exchanging at 1 USD to 980 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦970 and selling at N980, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 985 |
| Selling Rate | 990 |
The Nigerian naira depreciation was attributed to strong demand for dollars by individuals travelling for business, school, medical or tourism.
Dollar To Naira Black Market Today Wednesday 20th September, 2023
As of today Wednesday, September 20th, 2023, the naira continue to tumble with respect to the US dollar, exchanging at 1 USD to 957 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦950 and selling at N965. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N957 while the selling price is N965, leaving a N8 profit margin.
How Much is Dollar To Naira Black Market Today Wednesday 20th September, 2023
The dollar to naira black market exchange rate today Wednesday September 20th, 2023, the naira exchanges at 1 USD to 965 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦957 and selling at N965, leaving a N5 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 957 |
| Selling Rate | 965 |
| Date | Black Market Rate Today (To Buy) | Black Market Rate Today (Sell) |
| September 16, 2023 | 950 | 955 |
| September 15, 2023 | 945 | 955 |
| September 14, 2023 | 940 | 950 |
| September 13, 2023 | 935 | 945 |
| September 12, 2023 | 925 | 930 |
Dollar To Naira Black Market Today Friday 15th September, 2023
As of today Friday, September 15th, 2023, the naira continue to tumble with respect to the US dollar, exchanging at 1 USD to 955 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦945 and selling at N955. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N945 while the selling price is N955, leaving a N10 profit margin.
How Much is Dollar To Naira Black Market Today Friday 15th September, 2023
The dollar to naira black market exchange rate today Friday September 15th, 2023, the naira exchanges at 1 USD to 955 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦945 and selling at N955, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 945 |
| Selling Rate | 955 |
| Date | Black Market Rate Today (To Buy) | Black Market Rate Today (Sell) |
| September 15, 2023 | 945 | 955 |
| September 14, 2023 | 940 | 950 |
| September 13, 2023 | 935 | 945 |
| September 12, 2023 | 925 | 930 |
| September 11, 2023 | 920 | 930 |
Dollar To Naira Black Market Today Thursday 14th September, 2023
As of today Thursday, September 14th, 2023, the naira continue to tumble with respect to the US dollar, exchanging at 1 USD to 950 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦940 and selling at N950. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N940 while the selling price is N950 per dollar, leaving a N10 profit margin.
How Much is Dollar To Naira Black Market Today Thursday 14th September, 2023
The dollar to naira black market exchange rate today Thursday September 14th, 2023, the naira exchanges at 1 USD to 950 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦940 and selling at N950, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 940 |
| Selling Rate | 950 |
Dollar To Naira Black Market Today Monday 11th September, 2023
As of Monday September 11th, 2023, the naira continue to exchange at 1 USD to 930 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920 and selling at N930. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N920 while the selling price is N930 per dollar, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 920 |
| Selling Rate | 930 |
How much is dollar to naira today in black market September 11th, 2023?
On Monday September 11, 2023, the Naira retained its value to trade at the rate of N930/$1. This implies that 1 US dollar was bought for N920/$1 at the black market and sold to willing buyers at N930/$. The naira depreciation was attributed to an increased demand for dollars.
Dollar To Naira Black Market Today Sunday 10th September, 2023
As of Sunday September 10th, 2023, the naira continue to exchange at 1 USD to 930 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920 and selling at N930. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N920 while the selling price is N930 per dollar, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 920 |
| Selling Rate | 930 |
Dollar To Naira Black Market Today Saturday 9th September, 2023
On Saturday September 9, 2023, the US dollar is trading at the rate of N930/$1 at the parallel market. This implies that 1 US dollar was bought for N920/$1 at the black market and sold to willing buyers at N930/$. The naira depreciation is attributable to an increased demand for the greenback as increased FX inflow has failed to lift dollar reserves and meet demand.
How much is dollar to naira today in black market September 9th, 2023?
As of Saturday September 9th, 2023, the naira lost further N5 to exchange at 1 USD to 930 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920 and selling at N930. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N920 while the selling price is N930 per dollar, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 920 |
| Selling Rate | 930 |
Dollar To Naira Black Market Rate Today Thursday 7th September, 2023
On Thursday September 7, 2023, the US dollar is trading at the rate of N925/$1 at the parallel market. This implies that 1 US dollar was bought for N915/$1 at the black market and sold to willing buyers at N925/$. The naira depreciation is attributable to an increased demand for the greenback as increased FX inflow has failed to lift dollar reserves.
How much is dollar to naira today in black market September 7th, 2023?
As of Thursday September 7th, 2023, the naira lost N8 to exchange at 1 USD to 925 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915 and selling at N925. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N915 while the selling price is N925 per dollar, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 915 |
| Selling Rate | 925 |
Nigeria’s economy recorded 17.5 per cent foreign exchange (FX) inflows in the first quarter (1Q) of 2023, but this did not reflect in external reserves accretion and naira stability as seen in the latest published report by the Central Bank of Nigeria (CBN).
The report showed that FX inflows into the Nigerian economy rose 17.5 per cent to $17.18 billion in Q1 of 2023 from $14.62 billion in the fourth quarter (Q4) of 2022.
During the same period, FX reserves declined by 4.01 per cent ($1.47bn) to $35.14 billion in Q1, 2023, from $36.61 billion at the end of December 2022.
Naira lost 3.41 per cent of its value against the dollar during the period under review. One dollar was quoted at N460.93 in Q1 against N445.71 mentioned in Q4 2022.
“If Fx inflows went up by 17.5 per cent, but reserves declined together with a devaluation, it shows Fx demand also increased higher than the increase in the supply of 17.5 per cent,” said Yemi Kale, partner & chief economist, KPMG Nigeria.
How Much is Pound to Dollar Exchange Rate Today September 7 2023?
As at Wednesday, September 6th, 2023, the British pound opened with £1 to $1.2565 and closed with $1.2507. At the peak, £1 exchanged $1.2588 while at the lowest, it exchanged $1.2482. The pound sterling is currently averaging £1 to $1.2535. This is according to information provided by www.poundsterlinglive.com/history/GBP-USD-2023, an online portal that monitors the live exchange rate between the dollar and pound sterling.
The table below shows the pound to dollar conversion metrics for Tuesday September 7, 2023.
| Date | Open | Close | High | Low | Mid |
September 6th, 2023 |
|||||
| Wednesday 6 September 2023 (06/09/2023) |
1.2565
|
1.2507
|
1.2588
|
1.2482
|
1.2535
|
| Tuesday 5 September 2023 (05/09/2023) |
1.2628
|
1.2566
|
1.2632
|
1.2529
|
1.2580
|
| Monday 4 September 2023 (04/09/2023) |
1.2589
|
1.2628
|
1.2642
|
1.2587
|
1.2615
|
| Friday 1 September 2023 (01/09/2023) |
1.2673
|
1.2588
|
1.2713
|
1.2577
|
1.2645
|
Dollar To Naira Black Market Rate Today Tuesday 5th September, 2023
On Tuesday September 5, 2023, the US dollar lost N2 to trade at the rate of N917/$1. This implies that 1 US dollar was bought for N912/$1 at the black market and sold to willing buyers at N917/$. The naira depreciation is attributable to an increased demand for the greenback.
How much is dollar to naira today in black market September 5th, 2023?
As of Tuesday September 5th, 2023, the naira lost N2 to exchange at 1 USD to 917 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦912 and selling at N917. This is according to information gathered by VERY SERIAL from Aboki FX, an online platform that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N912 while the selling price is N917 per dollar, leaving a N5 profit margin as seen below:
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 912 |
| Selling Rate | 917 |
How Much is Pound to Dollar Exchange Rate Today September 5 2023?
As of Tuesday September 5th, 2023, the British pound opened with £1 to $1.2628 and closed with $1.2620. At the highest, £1 exchanged $1.2632 while at the lowest, it exchanged $1.2619. On the average on September 5th, £1 is been traded at $1.2625. This is according to information provided by poundsterlinglive.com, an online portal that monitors the live exchange rate between the dollar and pounds sterling.
The table below shows the pound to dollar conversion metrics for Tuesday September 5, 2023.
| Date 5/9/2023 | Open | Close | High | Low | Mid |
September 5th, 2023 |
|||||
| Tuesday 5 September 2023 (05/09/2023) |
1.2628
|
1.2620
|
1.2632
|
1.2619
|
1.2625
|
| Monday 4 September 2023 (04/09/2023) |
1.2589
|
1.2628
|
1.2642
|
1.2587
|
1.2615
|
| Friday 1 September 2023 (01/09/2023) |
1.2673
|
1.2588
|
1.2713
|
1.2577
|
1.2645
|
Dollar To Naira Black Market Exchange Rate Today Monday 4th September, 2023
On Sunday September 3, 2023, the US dollar retained its value to trade at the rate of N915/$1. This implies that 1 US dollar was bought for N910/$1 at the black market and sold to willing buyers at N915/$. The naira appreciation was attributed to a moderation in demand for dollars.
How much is dollar to naira today in black market September 4th, 2023?
As of Sunday September 3rd, 2023, the naira continued to exchange at 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦910 and selling at N915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N910 while the selling price is N915 per dollar, leaving a N5 profit margin as seen below:
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 910 |
| Selling Rate | 915 |
How much is the pound to dollar exchange rate today September 4th, 2023?
As of Monda September 4th, 2023, the British pound sterling opened with £1 to $1.2589 and closed with $1.2595. At the peak, £1 exchanged $1.2601 while at the lowest, it exchanged $1.2587. The pound sterling is currently trading and averaging £1 to $1.2594. This is according to information provided by poundsterlinglive.com, an online portal that monitors the live exchange rate between the dollar and pound sterling.
Dollar To Naira Black Market Exchange Rate Today Saturday 2nd September, 2023
On Friday September 1, 2023, The US dollar was trading at the rate of N915/$1 on Friday, representing 0.54 per cent appreciation compared to N920 it traded on Thursday, according to data from Abokifx and other Bureau De Change operators trading in the street areas. This implies that 1 US dollar was bought for N910/$1 at the black market and sold to willing buyers at N915/$. The naira appreciation was attributed to a moderation in demand for dollars.
How much is dollar to naira today in black market September 2nd, 2023?
As of Friday September 1st, 2023, the naira firmed up its value against the greenback to exchange at 1 USD to 915 NGN at the parallel market popularly called black market gaining 0.54%. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N910 while the selling price is N915 per dollar, leaving a N5 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 910 |
| Selling Rate | 915 |
How much is dollar to naira at the Investors’ and Exporters’ (I&E) window today September 2nd, 2023?
Dollar was quoted at N740.99 on Friday September 1st, 2023 at the Investors’ and Exporters’ (I&E) window, the country’s official FX market. This implies that the US dollar was purchased at N739.99 and sold at N740.99 leaving a profit margin of N1 per each US dollar sold at the investors’ and exporters’ (I & E) window segment of the market popularly called the official Central Bank of Nigeria (CBN) market.
Find below official exchange rate of a number of currencies to the Naira from the Website of the CBN.
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 9/1/2023 | US DOLLAR | 739.99 | 740.49 | 740.99 |
| 9/1/2023 | POUNDS STERLING | 934.0894 | 934.7205 | 935.3517 |
| 9/1/2023 | EURO | 800.2992 | 800.8399 | 801.3807 |
| 9/1/2023 | SWISS FRANC | 836.9034 | 837.4689 | 838.0344 |
| 9/1/2023 | YEN | 5.0691 | 5.0725 | 5.076 |
| 9/1/2023 | CFA | 1.3265 | 1.3365 | 1.3465 |
| 9/1/2023 | WAUA | 1077.7471 | 1078.4753 | 1079.2035 |
| 9/1/2023 | RIYAL | 197.2886 | 197.4219 | 197.5552 |
| 9/1/2023 | DANISH KRONA | 107.3647 | 107.4373 | 107.5098 |
| 9/1/2023 | SDR | 984.2607 | 984.9257 | 985.5908 |
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
Dollar To Naira Black Market Exchange Rate Today Friday 1st September, 2023
The Nigerian naira on Thursday continues at N920 against the dollar at the parallel segment of the foreign exchange (FX) market, following strong demand for the greenback. Dealers continue buying from willing sellers at N915/$ while selling at N920/$ to willing buyers.
How much is dollar to naira today in black market September 1st, 2023?
As of Thursday August 31st, 2023, the naira retained its value against the greenback to exchange at 1 USD to 920 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920. Bureaux De Change (BDC) operators say the buying rate of the dollar is N915 while the selling price is N920 per dollar, leaving a N5 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 915 |
| Selling Rate | 920 |
How much is dollar to naira today at the Investors’ and Exporters’ (I&E) window September 1st, 2023?
Dollar was quoted at N757.52 on Thursday August 31st, 2023 at the Investors’ and Exporters’ (I&E) window, the country’s official FX market. This implies that the US dollar was purchased at N756.52 and sold at N757.52 leaving a profit margin of N1 per each US dollar sold at the investors’ and exporters’ (I & E) window segment of the market popularly called the official Central Bank of Nigeria (CBN) market. We have published details for exchange rate of naira to one US dollar, One Pounds Sterling, One Euro as well as other trading currencies for Thursday August 31st, 2023.
Find below official exchange rate of a number of currencies to the Naira from the Website of the CBN.
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 8/31/2023 | US DOLLAR | 756.523 | 757.023 | 757.523 |
| 8/31/2023 | POUNDS STERLING | 958.6659 | 959.2995 | 959.9331 |
| 8/31/2023 | EURO | 820.5248 | 821.0671 | 821.6094 |
| 8/31/2023 | SWISS FRANC | 855.0215 | 855.5866 | 856.1517 |
| 8/31/2023 | YEN | 5.1583 | 5.1618 | 5.1652 |
| 8/31/2023 | CFA | 1.3265 | 1.3365 | 1.3465 |
| 8/31/2023 | WAUA | 1077.7789 | 1078.4912 | 1079.2035 |
| 8/31/2023 | RIYAL | 201.6964 | 201.8297 | 201.963 |
| 8/31/2023 | DANISH KRONA | 110.0797 | 110.1525 | 110.2252 |
| 8/31/2023 | SDR | 1006.2512 | 1006.9163 | 1007.5813 |
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
How much is $1 dollar to naira in black market 2023?
As of Thursday August 31st, 2023, the naira continue to exchange at 1 USD to 920 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915 and selling at N920. Bureaux De Change (BDC) operators say the buying rate of the dollar is N915 while the selling price is N920 per dollar, leaving a N5 profit margin.
How much is $1 to naira in black market rate?
$1 to naira in black market is N920 as Buyers in the parallel segment of the forex market reported buying one US dollar for ₦915 and selling at N920 on Thursday August 31st, 2023.
How much is $100 dollar to naira today in black market?
$100 to naira in black market is N92,000 as buyers in the parallel segment of the forex market reported buying one US dollar for ₦915 and selling at N920 on Thursday August 31st, 2023, thereby giving $100 to N92,000 in black market.
How much is $1 dollar in naira now?
$1 dollar in naira right now is N920 as of Thursday, August 31st 2023 according to the table below.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 915 |
| Selling Rate | 920 |
Dollar To Naira Black Market Exchange Rate Today Thursday 31st August, 2023
The Nigerian naira on Wednesday fell to a new low of N920 against the dollar at the parallel segment of the foreign exchange (FX) market, following strong demand for the greenback. Dealers were buying from willing sellers at N915/$ while selling at N920/$ to willing buyers.
How much is dollar to naira today in black market August 31st, 2023?
As of Wednesday August 30th, 2023, the naira lost N5 to exchange at 1 USD to 920 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920. Bureaux De Change (BDC) operators say the buying rate of the dollar is N915 while the selling price is N920 per dollar, leaving a N5 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 915 |
| Selling Rate | 920 |
During the intraday trading on Tuesday, the dollar was quoted at N920/$1, which represents 0.54 percent (N5) depreciation compared to N915 per dollar traded during the morning session.
The exchange rate gap between the official and parallel segments of the foreign exchange market has widened to N150 per dollar from N96/$1 after FX unification in June amid tight supply of the greenback.
The naira on Tuesday fell to N920- N925 per dollar at the parallel market, following strong demand for the greenback. Dealers were buying from willing sellers at N915/$ while selling at N920-N925/$ to willing buyers.
During the intraday trading on Tuesday, the dollar was quoted at N920-N925/$1, which represents 1.09 percent depreciation compared to N915 per dollar traded during the morning session.
How much is dollar to naira today in Investors’ and Exporters’ (I&E) window August 31st, 2023?
Dollar was quoted at N775.34 on Tuesday August 30th, 2023 at the Investors’ and Exporters’ (I&E) window, the country’s official FX market.
Dollar To Naira Black Market Exchange Rate Today Wednesday 30th August, 2023
As of Tuesday August 29th, 2023, the naira continue to exchange at 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.
The Nigerian naira has maintained its value, in the black market relative to the US dollar, closing at N915 to a dollar on Tuesday. The value remained at 915/$ on Tuesday.
How much is dollar to naira today in black market August 30th, 2023?
On Tuesday, August 29th, 2023, buyers in the black market purchased one US dollar for N900 and sold it for N915. Between Monday up to now, the value of the Nigeria Naira remained constant after appreciating by N5 on Friday, August 25th, 2023 when the local currency was exchanged at N915 to a Dollar.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 900 |
| Selling Rate | 915 |
Dollar To Naira Black Market Exchange Rate Today Tuesday 29th August, 2023
As of Monday August 29th, 2023, the naira continue to exchange at 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.
The Nigerian naira has maintained its value, in the black market relative to the US dollar, closing at N915 to a dollar on Monday. This has been the exchange rate since on Thursday. The value remained at 915/$ on Monday.
How much is dollar to naira today in black market August 29th, 2023?
On Monday, August 28th, 2023, buyers in the black market purchased one US dollar for N900 and sold it for N915. Between Friday up to Sunday, the value of the Nigeria Naira remained constant after appreciating by N5 on Friday, August 25th, 2023 when the local currency was exchanged at N915 to a Dollar.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 900 |
| Selling Rate | 915 |
Dollar To Naira Black Market Exchange Rate Today Monday 28th August, 2023
As of Sunday August 27th, 2023, the dollar to naira exchange rate sustained its value at 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.
The Nigerian naira has maintained its value, in the black market relative to the US dollar, closing at N915 to a dollar on Sunday, after appreciating by 0.54 per cent than the N920 it closed on Friday 25th August 2023. The value remained at 915/$ on Saturday and Sunday. The figure therefore represents a N5 appreciation compared to the N920 it traded on Friday.
How much is dollar to naira today in black market August 28th, 2023?
On Sunday, August 27th, 2023, buyers in the black market purchased one US dollar for N900 and sold it for N915. Between Friday up to Sunday, the value of the Nigeria Naira remained constant after appreciating by N5 on Friday, August 25th, 2023 when the local currency was exchanged at N915 to a Dollar.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 900 |
| Selling Rate | 915 |
Dollar To Naira Black Market Exchange Rate Today Sunday 27th August, 2023
As of Saturday August 26th, 2023, the dollar to naira exchange rate is 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the greenback is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.
The Nigerian naira has maintained its value, in the black markey relative to the US dollar, closing at N915 to a dollar on Saturday, after strengthening by 0.54 per cent which represents N5, than the N920 it closed on Thursday. The value remained at 915/$ on Friday and Saturday.
The figure therefore represents a N5 appreciation compared to the N920 it traded on Thursday.
How much is dollar to naira today in black market August 27th, 2023?
On Saturday, August 26th, 2023, buyers in the black market purchased one US dollar for N900 and sold it for N915. Between Friday and the weekend, the value of the Nigeria Naira remained constant after appreciating by N5 compared to Thursday, August 24th, 2023 when the local currency was exchanged at N900 to a Dollar.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 900 |
| Selling Rate | 915 |
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N900 and sell at N915 on Saturday, 26th August 2023, according to data obtained by VERY SERIAL from Bureau De Change (BDC) operators.
Official Exchange Rate from CBN Website for Investors and Exporters FX Window for Friday, 25th August 2023.
Find below official exchange rate of a number of currency to the Naira from the Website of the CBN.
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 8/25/2023 | US DOLLAR | 773.896 | 774.396 | 774.896 |
| 8/25/2023 | POUNDS STERLING | 973.4838 | 974.1127 | 974.7417 |
| 8/25/2023 | EURO | 834.9564 | 835.4958 | 836.0353 |
| 8/25/2023 | SWISS FRANC | 872.7822 | 873.3461 | 873.91 |
| 8/25/2023 | YEN | 5.2847 | 5.2881 | 5.2916 |
| 8/25/2023 | CFA | 1.2547 | 1.2647 | 1.2747 |
| 8/25/2023 | WAUA | 1024.4605 | 1025.1224 | 1025.7843 |
| 8/25/2023 | RIYAL | 206.3062 | 206.4395 | 206.5728 |
| 8/25/2023 | DANISH KRONA | 112.0127 | 112.0851 | 112.1575 |
| 8/25/2023 | SDR | 1029.2043 | 1029.8692 | 1030.5342 |
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
How much is dollar to naira today in black market August 25th, 2023?
The naira on Thursday, 24th August, 2023 crashed in value by 4.54 per cent against the United States dollar at the black market to trade at N920/$ as against N880/$ it traded on Wedneday. This is according to data obtained by VERY SERIAL from Bureau De Change (BDC) operators in Lagos and Abuja and from other media sources. This means 1 USD is purchased at N900 at the black market and sold at N920, resulting to a profit of N20 per dollar.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 900 |
| Selling Rate | 920 |
How much is dollar to naira today in black market August 23rd, 2023?
The naira on Tuesday, 22nd August, 2023 dropped in value marginally by 0.82% against the United States dollar at the black market to trade at N860/$ as against N853 it traded on Monday. This is according to data obtained by VERY SERIAL from Bureau De Change (BDC) operators. This means 1 USD is purchased at N850 at the black market and sold at N860.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 850 |
| Selling Rate | 860 |
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N850 and sell at N860 on Tuesday, 22nd August 2023, according to data obtained by VERY SERIAL from Bureau De Change (BDC) operators.
How much is dollar to naira today in black market August 21st, 2023?
The Nigerian naira on Monday, 21st August, 2023 dropped in value marginally again over the United States dollar at the black market to trade at N853/$ as against N830 it traded over the weekend. This is according to data obtained by VERY SERIAL from Bureau De Change (BDC) operators. This means 1 USD is purchased at N843 at the black market and sold at N853.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 843 |
| Selling Rate | 853 |
How much is dollar to naira today in black market August 17th, 2023?
The Nigerian naira onThursday, 17th August, 2023 sustained its gain over the United States dollar by 10.7 per cent at the black market to trade at N830/$ as against N930 it traded on Wednesday This is according to data obtained by VERY SERIAL from Bureau De Change (BDC) operators. This means 1 USD is sold at N840 at the black market, otherwise called parallel market and bought at N830.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 830 |
| Selling Rate | 840 |
How much is dollar to naira today in black market August 16th, 2023?
The naira on Wednesday, 16th August, 2023 strengthened further by 0.53 per cent against the Unites States dollar at the black market to trade at N935/$, according to data obtained by VERY SERIAL in Lagos from Bureau De Change (BDC) operators. This means 1 USD is sold at N935 at the black market, otherwise called parallel market and purchased at N925.
|
NGN [DATE] |
USD BUY / SELL |
GBP BUY / SELL |
EUR BUY / SELL |
|---|---|---|---|
| 16/08/2023 | 925 / 935 | 1170/ 1180 | 1000 / 1010 |
| 15/08/2023 | 930 / 940 | 1180 / 1190 | 1000 / 1012 |
| 14/08/2023 | 935 / 945 | 1165 / 1175 | 995 / 1000 |
Dollar To Naira Black Market Exchange Rate Today Tuesday 15th August, 2023 [Data from Aboki Fx]
As of August 15th, 2023, the dollar to naira exchange rate is 1 USD to 940 NGN at the black market. Bureaux De Change (BDC) operators say the buying rate of the greenback is N930 while the selling price is N940 per dollar, leaving a N10 profit margin. This figure represents a N10 appreciation compared to the N950 it traded as at end of last week.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 930 |
| Selling Rate | 940 |
Dollar To Naira Black Market Exchange Rate Today Sunday 13th August, 2023 [Data from Aboki Fx]
As of August 13th, 2023, the dollar to naira exchange rate is 1 USD to 950 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦950. Bureaux De Change (BDC) operators say the buying rate of the greenback is N940 while the selling price is N950 per dollar, leaving a N10 profit margin.
The Nigerian naira continues to suffer shipwreck, freefall and persistent depreciation in the black markey, closing at N950 to a dollar on Friday and Saturday, after weakening by a whopping N50 than the N900 it closed on Thursday.
The figure represents a N50 depreciation compared to the N900 it traded in the last three days.
On Sunday, August 13th, 2023, buyers in the black market purchased one US dollar for N950 and sold it for N955. Between Friday and the weekend, the value of the Nigeria Naira declined by at least N50 when compared to Thursday, August 10th, 2023 when the local currency was exchanged at N900 to a Dollar.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 945 |
| Selling Rate | 950 |
Dollar To Naira Black Market Exchange Rate Today Friday 11th August, 2023 [Data from Aboki Fx]
As of August 11th, 2023, the dollar to naira exchange rate is 1 USD to 950 NGN at the parallel market popularly called black market in Lagos and Abuja. This implies that for every one US dollar, you can exchange it for ₦950. Bureaux De Change (BDC) operators, popularly known as ‘abokis’ in Ikeja, Lagos, was quoted as saying the buying rate of the greenback is N940 while the selling price is N950 per dollar, leaving a N10 profit margin.
The local currency opened at N950.00 per $1 at the parallel market otherwise known as the black market, on Friday, 11th August 2023, in Lagos and Abuja, Nigeria, after it closed at N945 to N950 per $1 on Thurday, 10th August 2023.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 945 |
| Selling Rate | 950 |
The Nigerian naira continues to sustain and suffer persistent depreciation in the parallel market, closing at N950 to a dollar on Thursday. The rate was N50 weaker than the N900 it closed on Wednesday.
At the Investor and Exporter (I&E) window – the official market – the naira closed at N781 to a US dollar, N1 stronger than N782 it closed on Wednesday. The transaction volume also accelerated to $60 million, as against $45 million recorded the previous day.
The naira crisis followed a continuous shortage of dollars at both official and parallel markets, leading to a severe illiquidity crisis in the market.
Although forex inflows since the unification of the exchange rate stood at $2.55 billion, the fund is still inadequate to clear about $8 billion backlogs of demand from manufacturers, tuition fees, medical bills and travel allowances buyers.
A Bureaux De Change (BDC) trader based in Marina, central Lagos, Garuba Sarki, linked the market crisis to inadequate or lost zero dollar supply and the uptick of demand from multiple buyers. He said funding for BDCs or getting the banks to sell dollars to retail end buyers will bring greater mileage to the naira.
Naira to Dollar Exchange Rate News Update Today Thursday 10th August, 2023- UPDATE
News reaching VERY SERIAL indicates that the Nigerian naira has just dropped to an historic low of N945 per dollar this afternoon, 10th August 2023 at the parallel market, otherwise called the black market as the
Nigerian naira continues to crash against dollar two months after the central bank moved to a more flexible exchange rate to encourage inflows.
Dollar To Naira Black Market Exchange Rate Today Thursday 10th August, 2023 [Data from Aboki Fx]
This digital news platform has obtained the official Naira black market exchange rate today 20th August 2023 in Nigeria including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today?
The exchange rate at Lagos Parallel Market (Black Market) goes for N910 to purchase a dollar while selling price is pegged at N915. The local currency opened at N915.00 per $1 at the parallel market otherwise known as the black market, on Thursday, 10th August 2023, in Lagos, Nigeria, after it closed at N910.00 per $1 on Wednesday, 9th August 2023.
Bureaux De Change (BDC) operators, popularly known as ‘abokis’ in Ikeja, Lagos, was quoted as saying the buying rate of the greenback is N910 while the selling price is N915 per dollar, leaving a N5 profit margin.
Exchange Rate of Dollar To Naira in Black Market Today?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 910 |
| Selling Rate | 915 |
The Nigerian naira fell further on Wednesday to a record low of N915 per dollar at the parallel market, as the gap between the official and black markets resurface.
The currency of Africa’s biggest economy has come under pressure since the CBN floated the currency in June.
Data from FMDQ showed that the naira opened at N757 per dollar on Wednesday at the official market but traded much weaker at N915 per dollar at the black market according to data from Aboki FX.
This brings the gap between both rates to N158, the widest since the central bank moved to a more flexible exchange rate to encourage inflows.
To close the gap between both rates Ayo Teriba, CEO of Economic Associates (EA) urged the CBN to give BDCs same access as banks for fair competition, and should reconsider its list of 43 ineligible forex items, making them eligible.
Dollar To Naira Black Market Exchange Rate Today Thursday 20th July, 2023 [Aboki fx rate]
This digital news platform has obtained the official Naira black market exchange rate today 20th July 2023 in Nigeria including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today?
Dollar to naira black market exchange rate today black market (Aboki dollar rate):
VERY SERIAL understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market), players buy a dollar for N855 and sell at N860 as of the time of filing this report.
Exchange Rate of Dollar To Naira in Black Market Today?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 855 |
| Selling Rate | 860 |
The local currency (AbokiFx) opened at N860.00 per $1 at the parallel market otherwise known as the black market, on Thursday, 20th July 2023, in Lagos, Nigeria, after it closed at N830.00 per $1 on Wednesday, 19th July 2023.
Nigeria’s currency on Wednesday fell to all-time low of N860 per dollar at the parallel segment of the foreign exchange (FX) market, also called the black market.
The naira depreciation followed strong demand for dollars by individuals and importers who want to travel for summer holidays and business, a trader said.
One of the traders who gave his name as Bala said, “there’s dollars in the market, and we have buyers too”.
The foreign exchange market opened on Wednesday with naira depreciating to N830. This represents 3.48 percent (N30) lost in naira value in less than 12 hours.
At the Investors’ and Exporters’ (I&E) forex window, naira also weakened by 6.83 as the dollar was quoted at N793.70 on Wednesday as against N742.93/$1 quoted on Tuesday, data from the FMDQ indicated.
Willing buyers and sellers maintained bids as high as N853.00 and N699.50, lower bids were recorded during the FX market auction.
The daily foreign exchange market turnover increased significantly by 152.35 percent to $87.19 million on Wednesday from $34.55 million recorded on Tuesday.
On June 14, 2024 the CBN collapsed all segments of the FX market into I&E window, Nigeria’s official foreign exchange market, and re-introduced the willing buyer and willing sellers.
Consequently, the official exchange rate rose from N463.38/$ to N793.70, the current rate.
Despite the CBN’s floating of the naira, a large supply deficit remains in the fx market, said analysts at FBNQuest.
“Therefore, we expect substantial volatility in the naira exchange rate, at least in the near term. Also, we do not see an increase in liquidity from foreign portfolio investors as they will likely remain on the sidelines until they can repatriate a substantial proportion of their trapped fx funds, estimated at roughly USD3bn. In this context, we see an end-year rate of N825/USD,” the analysts said.
According to the analysts, sweeping reforms revamped the foreign exchange market, uniting fragmented market segments, eliminating trading restrictions, and bridging the gaping chasm between the official and parallel market rates. These actions aim to attract investments and stimulate economic growth.
“We are optimistic that the policy reforms investors have embraced will steer the nation towards a positive growth trajectory and lay the foundation for sustainable growth,” the analysts said.
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Exchange Rate of Dollar To Naira Exchange Rate Today Monday 19th June, 2023
In this review, I will be reviewing the Dollar to Naira Exchange Rate today following the unification of the exchange rates by the Nigeria’s apex bank.. VERY SERIAL understands that the Central Bank of Nigeria (CBN) on Wednesday collapsed all segments of foreign exchange markets into the Investors and Exporters (I&E) forex window.
Naira Plunges To N770 to Dollar, Loses 16.18% Over The Weekend
The Naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging N770 to the dollar. The local currency showed a 16.18 per cent decrease when compared with N663.04 it exchanged to the dollar at the close of business on June 16.
The open indicative rate closed at N703.50 to the dollar on Monday.
An exchange rate of N799 to the dollar was the highest rate recorded within the day’s trading before it settled at N770.38. The Naira sold for as low as N461 to the dollar within the day’s trading.
A total of 78.03 million dollars was traded at the official Investors and Exporters window on Monday.
The dollar had quoted at the rate of N702.19 at the Investors and Exporters (I&E) forex window on Thursday, the first trading day after the Central Bank of Nigeria (CBN) unified foreign exchange (FX) market segments.
Thursday’s rate was a 5.43 percent depreciation from N664.04 per dollar quoted on Wednesday at the I&E window, Nigeria’s official market.
The Central Bank of Nigeria (CBN) collapsed all segments of foreign exchange markets into the Investors and Exporters (I&E) forex window last week Wednesday.
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Exchange Rate of Dollar To Naira Exchange Rate Today Friday 16th June, 2023
Dollar quoted at the rate of N702.19 at the Investors and Exporters (I&E) forex window on Thursday, the first trading day after the Central Bank of Nigeria (CBN) unified foreign exchange (FX) market segments.
Thursday’s rate was a 5.43 percent depreciation from N664.04 per dollar quoted on Wednesday at the I&E window, Nigeria’s official market.
The Central Bank of Nigeria (CBN) has finally collapsed all segments of foreign exchange markets into the Investors and Exporters (I&E) forex window.
Angela Sere-Ejembi, director of financial markets, disclosed this in a circular to authorised dealers and the general public, saying applications for medicals, school fees, business travel allowance and personal travel allowance (BTA/PTA), and SMEs would continue to be processed through deposit money banks.
Traders said Thursday that demand for dollars at the black market has dropped after Nigeria’s bold move yesterday to float the naira.
The drop in demand in the black market comes as no surprise as several businesses that had turned to that market after being starved of dollars at the official market will now return to the official market for transactions.
“Nigeria’s FX reforms have commenced, proceeding faster than we had earlier anticipated,” Standard Chartered Bank said in a note by Razia Khan, head of research, Africa and Middle East, and Samir Gadio, head, Africa Strategy.
In response to Nigeria’s FX, the bank said, there is no interbank trading, trades are conducted on a matching ‘willing buyer, willing seller’ principle, and a limit of N 1 on bid-ask spreads remains in place. Nonetheless, the latest measure suggests that banks can bid higher for FX if they have a buyer willing to transact around the same price.
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Dollar To Naira Black Market Exchange Rate Today Friday 26th May, 2023 [Aboki fx rate]
In this review, we will be detailing the Dollar to Naira Black Market Exchange Rate [AbokiFx Rate] today. VERY SERIAL understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N750 and sell at N755 as of the time of filing this report.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 750 |
| Selling Rate | 755 |
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In this daily review, we will be detailing Dollar to Naira Black Market Exchange Rate [AbokiFx Rate] on a daily basis. We will also review the latest and up-to-date dollar to Naira official CBN rate as well as the Aboki dollar rate to Naira in Nigeria today.
Dollar To Naira Black Market Exchange Rate Today Thursday 27th April, 2023 [Aboki fx rate]
This digital news platform has obtained the official Naira black market exchange rate today 27th April 2023 in Nigeria including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today?
Dollar to naira black market exchange rate today black market (Aboki dollar rate):
VERY SERIAL understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market), players buy a dollar for N732 and sell at N740 as of the time of filing this report.
Exchange Rate of Dollar To Naira in Black Market Today?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 732 |
| Selling Rate | 740 |
The local currency (AbokiFx) opened at N740.00 per $1 at the parallel market otherwise known as the black market, on Thursday, 27th April 2023, in Lagos, Nigeria, after it closed at N738.00 per $1 on Wednesday, 26th April 2023.
Bureaux De Change (BDC) operators, popularly known as ‘abokis’ in Ikeja, Lagos, was quoted as saying the buying rate of the greenback is N732 while the selling price is N740 per dollar, leaving a N8 profit margin.
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Dollar To Naira Black Market Exchange Rate Today Sunday 23rd April, 2023 [Aboki fx rate]
This digital news platform has obtained the official Naira black market exchange rate today 23rd April 2023 in Nigeria, in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today?
Dollar to naira black market exchange rate today black market (Aboki dollar rate):
VERY SERIAL understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N740 and sell at N745 as of the time of filing this report.
Exchange Rate of Dollar To Naira in Black Market Today?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 740 |
| Selling Rate | 745 |
The local currency (AbokiFx) opened at N745.00 per $1 at the parallel market otherwise known as the black market, today, Sunday, 23rd April 2023, in Lagos, Nigeria, after it closed at N745.00 per $1 on Saturday, 22nd April 2023.
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Dollar To Naira Black Market Exchange Rate Today Saturday 22nd April, 2023 [Aboki fx rate]
This digital news platform has obtained the official naira black market exchange rate in Nigeria for today 22nd April 2023, in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today?
Dollar to naira black market exchange rate today black market (Aboki dollar rate):
Very Serial understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N740 and sell at N745 as of the time of filing this report.
Exchange Rate of Dollar To Naira in Black Market Today?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 740 |
| Selling Rate | 745 |
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Dollar To Naira Black Market Exchange Rate Today Saturday 15th April, 2023 [Aboki fx rate]
The local currency (abokiFx) is currently trading at N740.00 per $1 at the parallel market otherwise known as the Black market today, Saturday, 15th April 2023, in Lagos, Abuja, and across Nigeria and selling at N745. It closed at N737.00 per $1 on Friday, 14th April 2023. The US Dollar has been traded at an average of ₦735 – N745 when Black Market opened this week on Monday, April 10, 2023.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 740 |
| Selling Rate | 745 |
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Dollar To Naira Black Market Exchange Rate Today Thursday 13th April, 2023 [Aboki fx rate]
The local currency (abokiFx) is currently exchanging at N737.00 per $1 at the parallel market otherwise known as the Black market, today, Thursday, 13th April 2023, in Lagos, Abuja, and across Nigeria, after it closed at N740.00 per $1 on Wednesday, 12th April 2023. The US Dollar has been traded at an average of ₦750 – N755 when Black Market closed this week on Monday, April 7, 2023.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 737 |
| Selling Rate | 743 |
What Is The Latest Official Exchange Rate For Dollar To Naira Today At The Investors And Exporters (I&E) Forex Window?
Official exchange rate between the Naira and the US dollar according to the data released on the FMDQ Security Exchange, the official forex trading portal showed that the Naira sold and closed at ₦463.44 per dollar on Tuesday, April 25, 2023.
At the investors and exporters (I&E) forex window, the local currency appreciated by 0.05 percent to close at N463.44 on Tuesday, according to details on FMDQ OTC Securities Exchange — a platform where FX is officially traded..
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Exchange Rate For A Dollar To Naira at the Parallel Market (Black Market) is N735 buying price and selling price is at N740 On Tuesday April 11th, 2023.
The local currency (abokiFx) opened at N735.00 per $1 at the parallel market otherwise known as the Black market, today, Tuesday, 11th April 2023, in Lagos, Nigeria, after it closed at N754.00 per $1 on Monday, 10th April 2023. USD has been traded at ₦750 when Black Market closed last week on Friday, April 7, 2023.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 735 |
| Selling Rate | 740 |
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Dollar to Naira Black Market Exchange Rate Today Monday 10th April, 2023 [Aboki fx rate]
Exchange Rate For A Dollar To Naira at the Parallel Market (Black Market) is N754 and sells at N760 On Monday April 10th, 2023.
The local currency (abokiFx) opened at N754.00 per $1 at the parallel market otherwise known as the Black market, today, Monday, 10th April 2023, in Lagos, Nigeria, after it closed at N754.00 per $1 on Sunday, 9th April 2023. USD has been traded at ₦750 when Black Market closed last week on Friday, April 7, 2023.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 754 |
| Selling Rate | 760 |
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Differences and Dynamics of the Official CBN Rates and the Parallel (Black) Market Rates
Currently, Nigeria operates two foreign exchange (FX) markets: one is the official central bank rate, while the other is the parallel/black market rate.
Although the parallel segment is more accessible to traders and businesses who need FX, the Central Bank of Nigeria (CBN) has consistently maintained that it does not recognize the Parallel (black) market as according to the CBN IT represents less than one percent of forex transactions and should never be used to determine the exchange rate. It has directed individuals who want to engage in Forex to approach their respective banks.
The dollar to Naira black market exchange rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website, cbn.gov.ng.
The dollar to naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. These rates are almost always cheaper than those available at the black market otherwise called parallel market.
Official Exchange Rate from CBN Website for today Thursday, 19th April 2023.
Find below official exchange rate of a number of currency to the Naira from the Website of the CBN.
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 4/19/2023 | US DOLLAR | 460.03 | 460.53 | 461.03 |
| 4/19/2023 | POUNDS STERLING | 570.9432 | 571.5638 | 572.1843 |
| 4/19/2023 | EURO | 502.9968 | 503.5435 | 504.0902 |
| 4/19/2023 | SWISS FRANC | 511.6561 | 512.2122 | 512.7683 |
| 4/19/2023 | YEN | 3.4155 | 3.4192 | 3.4229 |
| 4/19/2023 | CFA | 0.7501 | 0.7601 | 0.7701 |
| 4/19/2023 | WAUA | 619.8602 | 620.5339 | 621.2076 |
| 4/19/2023 | YUAN/RENMINBI | 66.6914 | 66.7643 | 66.8373 |
| 4/19/2023 | RIYAL | 122.6616 | 122.7949 | 122.9282 |
| 4/19/2023 | SOUTH AFRICAN RAND | 25.1667 | 25.1941 | 25.2214 |
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
Critical Factors Affecting/Influencing Foreign Exchange (FOREX) Rates
1. Inflation Rates
It is well known that inflation directly impacts black market exchange rates. 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.
2. Interest Rates
Another tool to keep an eye on is interest rates. 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.
3. Government Debt
National debt can impact investor confidence and, as a result, the influx of funds into the economy. If inflows are high, the naira exchange rate will rise in favour of the naira.
4. Speculators
Speculators frequently impact the naira-to-dollar exchange rate. They stockpile money in anticipation of a gain, causing the naira to plummet even lower.
5. Conditions of Trade
Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. Everything comes from China, India, and the majority of Asian countries.
