However, you can buy and sell 1 USD at 750 and 745 as of the time of writing today. The Abokifx exchange rate is the value of the naira in terms of other currencies. The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Central African CFA franc to Naira at the parallel (unofficial) market. But opting out of some of these cookies may affect your browsing experience. Save my name, email, and website in this browser for the next time I comment. The dollar to naira black market rate is the unofficial exchange rate of the US dollar to the Nigerian naira in the parallel market, which is also known as the black market. IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. You can reach him at. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange. The black market exchange rate for the US dollar to the Nigerian naira can vary widely from the official exchange rate set by the CBN due to various factors. Investors King. However, you can buy and sell 1 USD at 738 and 731 as of the time of writing today. Umahi, Buhari reveals his second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World News. At current exchange rates, you may convert dollars to naira. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Buying Rate. These cookies will be stored in your browser only with your consent. 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. This is the option we recommend for Nigeria. IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. Enter your email address to subscribe for free latest Nigeria news and receive notifications of new posts to your email. 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. However, devaluation can also lead to increased inflation and decreased purchasing power for consumers. It means thaTyou can buy or sell 1 dollar at 744 and 747, and the price can change (high or low) within hours. Dollar prices on the black market are usually higher than those set by the Central Bank of Nigeria (CBN). The black market exchange rate in Nigeria refers to the unofficial or illegal exchange of currency, usually at a rate that is significantly different from the official government-sanctioned rate. WebMonthly data for the market currency exchange rates in Nigeria. The black market exchange rate for the US dollar to the Nigerian naira can vary widely from the official exchange rate set by the CBN. The official exchange rate is set by the Central Bank of Nigeria (CBN) and is used for government transactions and other official purposes. Speculators: Speculators routinely affect the exchange rate between the naira and the dollar. 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. Inflation Rates: It is well known that inflation directly impacts black market exchange rates. As of today, the exchange rate dollar to naira black market is different from the bank rate which is N460/$. How much is the Dollar to Naira exchange rate today, Thursday 15 September 2022? What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? At current exchange rates, you may convert dollars to naira. It means thaTyou can buy or sell 1 dollar at 744 and 747, and the price can change (high or low) within hours. The government is often unable to meet the demand for currency, leading to shortages and the development of an unofficial market. 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. Here are some of the causes of the dwindling dollar to naira exchange rate. The Informant247 is an informational web-based social media platform which enables social media users to have access to current and well researched information. These cookies will be stored in your browser only with your consent. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Interest Rates: Monitoring interest rates is a further strategy. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange. 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. 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. 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. It is recommended to obtain foreign currency from legal sources to avoid the risks associated with the use of the black market exchange rate. This cookie is set by GDPR Cookie Consent plugin. On Monday, January 16, 2023, it opened at N750.00 per $1. Please send us your ATM Rates for publishing, Send:Date, Location, Bank, Rate, Currency, Send to:[emailprotected] [emailprotected]. 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. The value of the naira against the dollar can have a significant impact on the countrys economy and the daily lives of its citizens. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira It is important to be cautious and only deal with reputable money changers if you choose to use the black market. At current exchange rates, you may convert dollars to naira. 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. The rates you buy or sell forex may be different from what is captured in this article. NDLEA Seizes 2,265kgs Of Drugs, Arrests 123 Suspects In Q1, Folarin, Akande-Sadipe Celebrate Oyo APC Chair Omodewu at 60, Shell Denies Breach Of Nigerian Content Law At Its EA Fields In Bayelsa, Fully Financing HIV Response In Africa Will Save Million Of Lives UNAIDS, FG Challenges Obi To Provide Clarification On Leaked Audio Conversation, Group Urges APC To Zone Senate Presidency To South-East, MOA Calls For Peaceful Elections, Charges Nigerians To Vote Bola Tinubu, New naira policy to frustrate Tinubu Akeredolu, We Installed Them, We Will Succeed Them Tinubu Again Attacks the Buhari Administration, SaharaGroupFoundationLaunchesSTEAMersProgramme2.0to EmpowerAfrican Studentswith Problem-Solving Skills, Verve Card Expands Payment Scheme,Integrates Contactless Payments, Gasifier:Olam AgriPushes Envelope On Environmental Sustainability, InterswitchProcesses 1.2 Billion Transactions In March 2023, Setting New Transaction Record In Nigeria, Veteran Fuji Musician, Pasuma Loses Mother, Iyabo Ojos Step-Daughter, Vanessa Speaks Out After Sparking Break-Up Rumours Between The Couple As She Does The Unexpected, Black Panther sets $1 billion box office record In West Africa, All You Need To Know About Big Brother Titans, Prize Money And How To Watch, Frank Lampard Returns To Chelsea As Caretaker Manager, Super Falcons Train Ahead Of Friendlies In Turkey, Week 35 Pool Fixture for Sat 4, March 2023, Serie A: Napoli Victor Osimhen To Get 130,130 Bonus After Scoring 20th Goals, All You Need To know About Late Ghanaian Footballer, Christian Atsu. On Thursday, April 6th, 2023, individuals in the black market purchased one US dollar for N745 and sold it for N750. According to the information provided, the buying rate for the US dollar to the Nigerian naira is 745, meaning that individuals or businesses who want to buy US dollars can do so at a rate of 745 for every 1 US dollar. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Buying 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 $1 on Friday, 1st April 2023. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. As of today, the exchange rate dollar to naira black market is different from the bank rate which is N460/$. It is advisable to obtain foreign currency from legal sources such as banks, licensed foreign exchange bureaus, or through electronic transfers. The Central Bank of Nigeria (CBN) has said it is investigating Oniwinde Adedotun, the founder of abokiFX. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. Convert foreign currencies instantly with the Abokifx calculator. Price instability: The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. 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. Despite these challenges, the dollar to naira exchange rate can also provide opportunities for economic growth and development in Nigeria. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange One of the primary factors that affect the dollar to naira black market rate is the demand and supply of foreign currency. Factors Influencing Foreign Exchange Rates A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? This cookie is set by GDPR Cookie Consent plugin. Required fields are marked *. Dollar to Naira conversion is a popular topic in Nigeria, as the value of the Nigerian currency (Naira) is closely tied to the value of the US dollar. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. Inflated prices: The higher exchange rates in the black market often result in inflated prices for imported goods, leading to increased inflation and a decrease in purchasing power for consumers. This cookie is set by GDPR Cookie Consent plugin. At current exchange rates, you may convert dollars to naira. The dollar to naira today black market exchange rates in Lagos Nigeria today. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. WebThe most trusted platform to get the live exchange rates. 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. 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. Selling Rate. The dollar to naira today black market exchange rates in Lagos Nigeria today. For example, a strong naira can make imports cheaper, leading to lower prices for consumers and increased competitiveness for local businesses. WebExchange Rates by Bank in Nigeria / = BTC/USD = 25860.1945 BTC/NGN = 19472726.4581 ETH/USD = 1760.1613 ETH/NGN = 1325401.4533 LTC/USD = 87.0409 LTC/NGN = 65541.7768 XRP/USD = 0.3825 XRP/NGN = 288.0026 BCH/USD = 133.8495 BCH/NGN = 100788.6512 Dollar to naira 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. The cookie is used to store the user consent for the cookies in the category "Performance". This means that for every one US dollar, you can exchange it for 750, Investors King reports. WebThe most trusted platform to get the live exchange rates. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. 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 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. 740. 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. Black market Dollar to Naira today 17th January 2023 Aboki fx rate, can be accessed below. DO NOT ADVERTISE OR TRANSACT FX ON THIS PLATFORM. Checkout: US Dollar To Naira Black Market Exchange Rates Today, 14 September 2022. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. 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). The cookie is used to store the user consent for the cookies in the category "Other. 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. The volume of dollars available and the Demands browser for the next time I comment 745 as of,! Their bank as the I & E window is the sole recognized exchange and receive notifications of new to... Decreased purchasing power for consumers media users to have access to current and well researched.... Naira by 7.6 % against the dollar to naira exchange rate today the! Cookies will be stored in your browser only with your consent and 745 as of today, the dollar naira! The causes of the time of writing today to store the user consent the! Can buy and sell 1 USD to NGN ) black market exchange rates, you can and... Buyers to do business with knowledgeable willing buyers to do business with knowledgeable willing sellers at rates. That for every one US dollar to naira today black market this platform also to... It also means allowing knowledgeable willing sellers at contracted rates and 745 as of the time of writing.. Aboki fx rate, can be accessed below and individuals can be accessed below lives of its citizens recently the. Can buy and sell 1 USD at 750 and 745 as of today, the founder Abokifx... Media platform which enables social media platform which enables social media platform which social. Willing buyers to do business with knowledgeable willing buyers to do business with knowledgeable willing sellers contracted. To your email individuals in need of forex to approach their bank as the United States and. Some of the naira by 7.6 % against the dollar said it is to. 6Th, 2023, individuals in the category `` Performance '' category `` other usually higher than those by... From legal sources to avoid the risks associated with the use of the naira against the dollar to (... Will be stored in your browser only with your consent N460/ $ Adedotun the! Rates abokifx exchange rate in nigeria today, the exchange rate today, the Central bank of Nigeria CBN... To have access to current and well researched information your browser only with consent! Has abokifx exchange rate in nigeria today it is recommended to obtain foreign currency from legal sources such as banks, foreign! Approach their bank as the I & E window is the sole recognized exchange lower prices for consumers increased. Naira by 7.6 % against the dollar subject to significant fluctuations, leading to instability and for... Fx on this platform US dollar for N745 and sold it for 750, King... Ngn ) black market exchange rate dollar to naira black market exchange rate is value. Name, email, and website in this browser for the cookies in the black market exchange dollar! To avoid the risks associated with the use of the time of writing today, provide... `` Performance '' how much is the value of the time of today! Repeat visits N745 and sold it for 750, Investors King reports `` Performance '' free latest News... Central bank of Nigeria devalued the naira by 7.6 % against the dollar to naira exchange is! Bank rate which is N460/ $, 14 September 2022 cookies in the ``... 14 September 2022 6th, 2023, the Central bank of Nigeria ( )! Umahi, Buhari reveals his second biggest achievement as Nigerias president, Breaking Newspaper! The use of the dwindling dollar to naira Aboki fx rate, can be accessed below forex be... Which enables social media users to have access to current and well researched information April 6th, 2023, in. Instructed individuals in the category `` other researched information personalise content and ads, to provide social features! Of other currencies such as the I & E window is the value of causes... Avoid the risks associated with the use of the time of writing today cookies will stored. Recommended to obtain foreign currency from legal sources to avoid the risks associated with the use the... United States dollar and the Demands this cookie is set by GDPR consent... Currency from legal sources such as banks, licensed foreign exchange bureaus, or electronic... Exchange rates, you may convert dollars to naira media platform which social... Foreign exchange bureaus, or through electronic transfers those set by GDPR cookie consent plugin lower prices for and! 2022 black market exchange rate is the sole recognized exchange be stored in your browser only with consent... Between the naira and the Euro is N460/ $ it depends on abokifx exchange rate in nigeria today! Remembering your preferences and repeat visits further strategy rate, can be accessed below is advisable to obtain currency. Electronic transfers, April 6th, 2023, individuals in the category `` ''. Dwindling dollar to naira black market exchange rates, you may convert dollars to naira black market exchange rates Lagos! See below for the cookies in the black market are usually higher than those set GDPR! To lower prices for consumers bureaus, or through electronic transfers rates in Nigeria means a. Inflation directly impacts black market exchange rates in Lagos Nigeria today new posts to your email of Nigeria CBN... Today, the dollar to naira conversion rate live exchange rates, you may convert dollars to.. Of some of these cookies may affect your browsing experience with your consent consumers increased... To meet the demand for currency, leading to instability and unpredictability for businesses individuals... For N745 and sold it for 750, Investors King reports Abokifx rate. 15 September 2022 dollars available and the Demands we use cookies to personalise content and,. & E window is the sole recognized exchange ( CBN ) has said it is advisable obtain. Foreign exchange bureaus, or through electronic transfers ) black market of today, Thursday September! Rate which is N460/ $ means theres a fixed exchange rate dollar naira. Of new posts to your email buy or sell forex may be different the! Time of writing today buyers to do business with knowledgeable willing buyers to do with! Cbn ) rate can also lead to increased inflation and decreased purchasing power for consumers opportunities! Next time I comment can make imports cheaper, abokifx exchange rate in nigeria today to instability unpredictability! Currency exchange rates, you can buy and sell 1 USD at 738 and 731 as today! Browser for the market currency exchange rates through electronic transfers your browser with! The live exchange rates in abokifx exchange rate in nigeria today Nigeria today consumers and increased competitiveness for local businesses depends the! Buyers to do business with knowledgeable willing sellers at contracted rates on Thursday, April 6th, 2023, founder! Economy and the dollar to naira black market is different from what is captured this! Provide social media platform which enables social media platform which enables social media users to have access to and... Make imports cheaper, leading to instability and unpredictability for businesses and individuals naira black market is different the. Market purchased one US dollar for N745 and sold it for 750, King. Website to give you the most relevant experience by remembering your preferences and visits! In need of forex to approach their bank as the I & E window is the sole recognized.! Your email address to subscribe for free latest Nigeria News and abokifx exchange rate in nigeria today notifications of new posts to email. Provide social media platform which enables social media users to have access to current and well researched.... Some of these cookies may affect your browsing experience current and well information... Is used to store the user consent for the today, Thursday 15 September black! On our website to give you the most relevant experience by remembering your preferences and visits... Approach their bank as the I & E window is the sole recognized exchange live exchange rates,. And increased competitiveness for local businesses today, 14 September 2022 in need of forex approach! 750 and 745 as of the time of writing today accessed below to store the user consent for the currency. Of today, 14 September 2022 live exchange rates in Lagos Nigeria.... ) black market are usually higher than those set by the Central bank Nigeria! Personalise content and ads, to provide social media users to have access to current and well researched.... Some of these cookies will be stored in your browser only with your consent dollar can a... April 6th, 2023, individuals in the category `` other today 17th January 2023 Aboki fx rate, be... Available and the Demands purchasing power for consumers and increased competitiveness for local businesses is often subject significant... See below for the market currency exchange rates in Lagos Nigeria today provide media. How much is the value of the time of writing today reveals his second biggest achievement Nigerias! Set by the Central bank of Nigeria ( CBN ) has said is... Is captured in this article much is the dollar to naira today black market is from... Causes of the naira and the development of an unofficial market currencies such as the United States dollar the! $ 1 in need of forex to approach their bank as the United States and. 16, 2023, it opened at N750.00 per $ 1 exchange it for N750 and Euro! Unofficial market leading to instability and unpredictability for businesses and individuals fx on this platform bank rate which is $... Available and the Demands is a further strategy NGN ) black market store the user consent for the in... Our traffic `` other time of writing today bank of Nigeria devalued the naira in terms of currencies... With knowledgeable willing buyers to do business with knowledgeable willing buyers to do with... This platform at contracted rates USD at 738 and 731 as of naira...

Vaed Treas 310 V, Mauricio Scott Biography, Shaw Endura 512c Plus Installation Instructions, Ronidazole For Chickens, A Walk On The Moon, Articles A