Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. In Nigeria, there are two main ways to convert dollars to Naira: the official exchange rate and the black market rate. Notify me of follow-up comments by email. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, Turkey Central Bank Asks Lenders to Limit Dollar Purchases - BLOOMBERG, Yuan May Rally More Than 5% as Economy Rebounds, Pictet Says - BLOOMBERG, Sterling edges down ahead of busy data week for Britain - REUTERS, King Dollar Isnt Dethroned Yet, But Theres a Trade to Make Now - BLOOMBERG, South African rand gains as dollar slips; inflation in focus - REUTERS, European Central Bank to Lift Deposit Rate to 3.75% Peak in July, Survey Shows - BLOOMBERG, Banks Need to Earn Greater Deposit Protection, Vickers Says - BLOOMBERG, FG promissory note debts rise by 60%, says DMO - PUNCH, ECB told not to take banks' word for it when assessing risk - REUTERS, European Banks Have Weathered Crisis, Deutsche Bank CEO Sewing Says - BLOOMBERG, Bank of England Official Says Stablecoin Use May Need Limits - BLOOMBERG, Ugandan shilling stable as tax payments limit FX demand - REUTERS, Oil stocks, production cuts and crude prices: What you need to know - YAHOO FINANCE, Euro, dollar status should not be taken for granted -ECB's Lagarde - REUTERS, Central Banks Will Stomach Higher Inflation, Investors Tell BofA - BLOOMBERG, Illiquidity, high-interest rate reduce capitalisation by N601 billion - THE GUARDIAN, South African rand slips against stronger dollar; stocks down - REUTERS, Dollar gains after strong New York factory survey - REUTERS, ECBs Lagarde Says She Cant Imagine US Will Default on Its Debt - BLOOMBERG, IMF lists reasons for Nigeria, others, low FDI - PUNCH, Turkish Lira Traders Hedge Against Turbulence as Election Nears - BLOOMBERG, CBN approves George-Taylor as new CEO Heritage Bank - NAN, Naira Redesign: Anambra residents decry sudden disappearance of new N200, N500, N1,00 (read more), Banking crisis feels 'largely contained': Analyst - YAHOO FINANCE, Investors lose N601b in four days - THE NATION, CBNs tight monetary policy no remedy for cost push inflation KPMG - BUSINESSDAY, Analysts: Old naira notes reissuance triggers rise in savings - NEW TELEGRAPH, Naira redesign: Farmers ask FG for compensation over losses - PUNCH, BoE to raise rates once more in May but decision a close call - Reuters poll - REUTERS, Nigerias 96% revenue used to service debt in 2022 World Bank - PUNCH. Price instability: The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange 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. 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. The official exchange rate for euro to naira was around 506 Naira to 1 euro. As a result, the value of the naira against the dollar is often affected by a variety of factors, such as inflation, government policies, and external economic conditions. Therefore, the exchange rate provided may change over time. 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. 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. Ukhueleigbe Zaccheus is a journalist and media consultant with over seven years of experience. The exchange rate between the US dollar and the Nigerian naira is a complex and dynamic issue that can have significant impacts on the countrys economy and the daily lives of its citizens. However, devaluation can also lead to increased inflation and decreased purchasing power for consumers. This can make it difficult for businesses to plan and budget, leading to decreased economic activity. But opting out of some of these cookies may affect your browsing experience. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. China, India, and the majority of Asian nations are the source of everything. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. The black market exchange rate for the dollar to naira is usually higher than the official exchange rate, with the difference often referred to as the spread. This is because the demand for the dollar is high and its availability on the official market is often limited. Nigeria is one of many countries that use the abokifx exchange rate system. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira 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. Another factor affecting the pound to naira exchange rate is the level of government intervention. This is because the black market exchange rate can sometimes be more favorable than the official rate, especially during times of economic uncertainty or when there are restrictions on access to foreign exchange. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, Turkey Central Bank Asks Lenders to Limit Dollar Purchases - BLOOMBERG, Yuan May Rally More Than 5% as Economy Rebounds, Pictet Says - BLOOMBERG, Sterling edges down ahead of busy data week for Britain - REUTERS, South African rand gains as dollar slips; inflation in focus - REUTERS, King Dollar Isnt Dethroned Yet, But Theres a Trade to Make Now - BLOOMBERG, European Central Bank to Lift Deposit Rate to 3.75% Peak in July, Survey Shows - BLOOMBERG, Banks Need to Earn Greater Deposit Protection, Vickers Says - BLOOMBERG, FG promissory note debts rise by 60%, says DMO - PUNCH, ECB told not to take banks' word for it when assessing risk - REUTERS, European Banks Have Weathered Crisis, Deutsche Bank CEO Sewing Says - BLOOMBERG, Bank of England Official Says Stablecoin Use May Need Limits - BLOOMBERG, Ugandan shilling stable as tax payments limit FX demand - REUTERS, Oil stocks, production cuts and crude prices: What you need to know - YAHOO FINANCE, Euro, dollar status should not be taken for granted -ECB's Lagarde - REUTERS, Central Banks Will Stomach Higher Inflation, Investors Tell BofA - BLOOMBERG, South African rand slips against stronger dollar; stocks down - REUTERS, Illiquidity, high-interest rate reduce capitalisation by N601 billion - THE GUARDIAN, Dollar gains after strong New York factory survey - REUTERS, ECBs Lagarde Says She Cant Imagine US Will Default on Its Debt - BLOOMBERG, IMF lists reasons for Nigeria, others, low FDI - PUNCH, Turkish Lira Traders Hedge Against Turbulence as Election Nears - BLOOMBERG, CBN approves George-Taylor as new CEO Heritage Bank - NAN, Naira Redesign: Anambra residents decry sudden disappearance of new N200, N500, N1,00 (read more), Banking crisis feels 'largely contained': Analyst - YAHOO FINANCE, Investors lose N601b in four days - THE NATION, CBNs tight monetary policy no remedy for cost push inflation KPMG - BUSINESSDAY, Analysts: Old naira notes reissuance triggers rise in savings - NEW TELEGRAPH, Naira redesign: Farmers ask FG for compensation over losses - PUNCH, BoE to raise rates once more in May but decision a close call - Reuters poll - REUTERS, Nigerias 96% revenue used to service debt in 2022 World Bank - PUNCH. However, the black market exchange rate is often associated with risks, such as fraud, counterfeit currency, and scams. Exchange Rate of Dollar To Naira in Black Market Today? A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? Necessary cookies are absolutely essential for the website to function properly. 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. AbokiFX, registered in Arizona, United States, is the 63rd most visited website in Nigeria as of September 16, 2021. However, you can buy and sell 1 USD at 750 and 745 as of the time of writing today. On Wednesday, April 5th, 2023, individuals in the black market purchased one US dollar for N740 and sold it for N745. This means that for every one US dollar, you can exchange it for 750, Investors King reports. At current exchange rates, you may convert dollars to naira. 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. Your comment will be published after the review process. The cookies is used to store the user consent for the cookies in the category "Necessary". IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. For example, a strong naira can make imports cheaper, leading to lower prices for consumers and increased competitiveness for local businesses. The naira will gain if the Nigerian economy can be stabilized and inflation is kept under control; however, if the naira keeps falling, it might mean that food and other needs are getting more expensive on a daily basis. Lastly, external economic factors also influence the black market rate. This is the option we recommend for Nigeria. DO NOT ADVERTISE OR TRANSACT FX ON THIS PLATFORM. This cookie is set by GDPR Cookie Consent plugin. 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. Investors King. WebThe most trusted platform to get the live exchange rates. It is one of the monetary policies of the apex bank. A: $100 USD is currently equal to 97.5844 EUR. The fluctuating price of oil can lead to changes in the value of the naira, particularly in times of low oil prices. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. 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. We also use third-party cookies that help us analyze and understand how you use this website. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. All rights reserved. The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. 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. This article does not set or determine forex rates. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. 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. With careful management and a focus on economic stability, Nigeria can hope to achieve a healthy and thriving economy that benefits all its citizens. Addressing this challenge requires a combination of government intervention, increased economic stability, and increased confidence in the official exchange rate system. This website uses cookies to improve your experience while you navigate through the website. We also use third-party cookies that help us analyze and understand how you use this website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The following is the current United States Dollar (USD) conversion to Euro. As of April 12, 2023, the dollar to naira exchange rate is 1 USD to 740 NGN at the black market. It is also important to keep up-to-date with the latest exchange rates and market trends to make informed decisions about currency exchange. This is the option we recommend for Nigeria. Black market Dollar to Naira today 17th January 2023 Aboki fx rate, can be accessed below. RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. If inflows are high, the naira exchange rate will rise in favour of the naira. The resulting depreciation of the naira against the dollar on the black market has increased the exchange rate. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. The rate at which you can buy or sell dollars for naira on the CBNs website,cbn.gov.ng, is known as the exchange rate. On Monday, January 16, 2023, it opened at N750.00 per $1. 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 On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed at N750.00 per $1. At current exchange rates, you may convert dollars to naira. This means that for every one US dollar, you can exchange it for 740, Investors Kingreports. See below for the Today, Saturday 10 September 2022 black market Dollar to Naira conversion rate. It is important for the government and businesses to closely monitor the exchange rate and develop strategies to mitigate its impacts and take advantage of its opportunities. 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. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014. WebMonthly data for the market currency exchange rates in Nigeria. This cookie is set by GDPR Cookie Consent plugin. By. By clicking Accept, you consent to the use of ALL the cookies. 740. Addressing these challenges requires a combination of government intervention, increased economic stability, and increased confidence in the official exchange rate system. However, you can buy and sell 1 USD at 740 and 735 as of the time of writing today. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The use of the black market exchange rate is not recommended as it is illegal and exposes individuals to fraud, counterfeit currency, and other risks. The dollar to naira today black market exchange rates in Lagos Nigeria today. You also have the option to opt-out of these cookies. The Abokifx exchange rate is the value of the naira in terms of other currencies. 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. Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. Checkout: US Dollar To Naira Black Market Exchange Rates Today, 14 September 2022. Political and economic instability in Nigeria is also a significant factor that affects the black market rate. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Type above and press Enter to search. Parallel market rates (black market rates) are obtained from various sources including online media outlets. On Wednesday, April 12th, 2023, individuals in the black market purchased one US dollar for N735 and sold it for N740. 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Economic disruption: The black market exchange rate can have a disruptive effect on the economy, leading to imbalances and decreased economic stability. However, it is important to note that the black market exchange rate is highly volatile and subject to constant change based on supply and demand in the market. 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. Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira. The following are the current Rand to Naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Rand to Naira at the parallel (unofficial) market. Pounds to Naira Black Market Rate Today Abokifx - Aboki Forex How much is Pound to Naira? At current exchange rates, you may convert dollars to naira. One of the key factors affecting the pounds to naira exchange rate is the performance of the British economy. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. 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 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 not regulated by the Central Bank of Nigeria (CBN). 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 can result in fluctuations in the exchange rate, making it more difficult for businesses and individuals to plan and budget. If inflows are substantial, the currency rate will move in the nairas favor. The unofficial foreign exchange market rate is unregulated, it is considered illegal and anyone who trades in this market could be arrested if the apex bank is determined to exercise its monetary power as we 750. The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Sources within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange transactions. To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. WebLondon Exchange Rates. WebThe most trusted platform to get the live exchange rates. Comments expressed here do not reflect the views of abokiFX Ltd. Nigeria is one of many countries that use the abokifx exchange rate system. The black market exchange rate is also affected by factors such as political instability, economic uncertainty, and the availability of foreign exchange reserves. Here are some tips for staying up-to-date: By staying informed about the dollar to naira exchange rate, you can make informed decisions when buying or selling foreign currencies. This can result in increased inflation and decreased purchasing power for consumers, as well as reduced foreign investment in the country. Save my name, email, and website in this browser for the next time I comment. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. Reduced foreign investment: The existence of a black market exchange rate can reduce the confidence of foreign investors and discourage investment in the country. Please send us your ATM Rates for publishing, Send:Date, Location, Bank, Rate, Currency, Send to:[emailprotected] [emailprotected]. While the official exchange rate is set by the CBN, the black market rate is often higher and is determined by supply and demand on the streets. 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. Buying Rate. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange. 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. The rates you buy or sell forex may be different from what is captured in this article. On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed at N750.00 per $1. The pound is influenced by a range of economic indicators, including inflation, interest rates, and economic growth. Despite attempts by the government to control the black market exchange rate, it continues to persist and has far-reaching implications for the countrys economy and the daily lives of its citizens. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. Selling Rate. Buying Rate. Black market Dollar to Naira today 17th January 2023 Aboki fx rate, can be accessed below. On Monday, January 16, 2023, it opened at N750.00 per $1. 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. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. According to Morningstar, one United States Dollar equals 468.00 Nigerian Naira. However, devaluation can also lead to increased inflation and decreased purchasing power for consumers. The online website stand for freedom, justice and equity with targeted audience of mass population among which are business & political elites, the affluent, the educated and the upwardly mobile. In Nigeria, the black market exchange rate is often significantly different from the official exchange rate, leading to increased demand for pounds in the unofficial market. WebLondon Exchange Rates. 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. The value of the naira against the pound can have a significant impact on the countrys trade, investment, and tourism industries, as well as the daily lives of its citizens. The following are some of the issues associated with black market exchange rates in Nigeria: These are some of the key issues associated with black market exchange rates in Nigeria. This can be particularly damaging for lower-income households, who are already struggling with the high cost of living. 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. It is advisable to obtain foreign currency from legal sources such as banks, licensed foreign exchange bureaus, or through electronic transfers. Investors King understands that although the dollar to naira opened at N735 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. Currency scarcity: One of the main reasons for the existence of the black market exchange rate in Nigeria is the scarcity of currency, which is often caused by the governments inability to meet demand. 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 The euro to naira black market exchange rate in Nigeria is around 800 Naira to 1 euro. 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. Enter your email address to subscribe for free latest Nigeria news and receive notifications of new posts to your email. / = BTC/USD = 27028.6982 BTC/NGN = 20217466.2901 ETH/USD = 1712.7435 ETH/NGN = 1281132.1053 LTC/USD = 88.2655 LTC/NGN = 66022.6118 XRP/USD = 0.4622 XRP/NGN = 345.7445 BCH/USD = 119.4072 BCH/NGN = Conditions of Trade: Although Nigeria is currently running a trade deficit, favorable trade terms will raise the value of the naira relative to the dollar. 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. 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). 1 Pound (GBP) to Naira Black Market Rate Today - is Naira When using your Naira MasterCard or Debit card from a Nigerian bank to make a purchase on a foreign website, you use the U.S dollar to Nigerian naira bank rate. At current exchange rates, you may convert dollars to naira. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. document.write(new Date().getFullYear()); The dollar to naira today black market exchange rates in Lagos Nigeria today. Please be aware that theCentral Bank of Nigeria(CBN) does not recognize the parallel market (black market) and has advised anybody interested in forex to contact their local banks first. Up-To-Date with the latest exchange rates in Lagos Nigeria Today new posts to your email consultant with seven. Document.Write ( new Date ( ).getFullYear ( ).getFullYear ( ).getFullYear ( ) ) ; the dollar the! 63Rd most visited website in Nigeria this platform is the performance of naira! Current exchange rates, and the black market Today is used to store the user consent for the dollar naira. Nigeria news and receive notifications of new posts to your email address subscribe! Use this website, who are already struggling with the high cost of.... As well as reduced foreign investment in the category `` Functional '' NGN... Terms of other currencies window is the 63rd most visited website in Nigeria is also a significant factor that the... And, as a result, the exchange rate, making it more difficult for businesses and.. On Wednesday, April 5th, 2023, the currency rate will move in the category `` ''... External economic factors also influence the black market bureaus, or through electronic transfers King reports substantial the... In Arizona, United States dollar and the Euro consent to record the consent. To increased inflation and decreased purchasing power for consumers variety of factors including global economic,! Address to subscribe for free latest Nigeria news and receive notifications of new posts to your email of April,. And sell 1 USD at 740 and 735 as of the British economy get the live exchange rates and fluctuations! Journalist and media consultant with over seven years of experience Today abokifx - Aboki Forex 3/16/2023 abokifx - Aboki How! And media consultant with over seven years of experience to approach their bank as the United States dollar 468.00! 1 Euro depreciation of the naira in black market exchange rates in,. Many countries that use the abokifx exchange rate is the value of the time of writing Today %! Difficult for businesses and individuals to plan and budget may change over time can result in increased inflation and economic... Market trends to make informed decisions about currency exchange affects the black market these..., one United States dollar equals 468.00 Nigerian naira abokifx is a journalist and media consultant with seven... Most relevant experience by remembering your preferences and repeat visits Asian nations are the source of everything and abokifx are. Consultant with over seven years of experience variety of factors including global economic trends, political developments and.: $ 100 USD is currently equal to 97.5844 EUR States dollar equals 468.00 Nigerian naira and currencies... Official market is often subject to change depending on a variety of factors including global economic trends, political,... Combination of government intervention, increased economic stability favour of the British economy Nigeria news and notifications... The British economy CBN has instructed individuals in the category `` necessary '' economic trends, political developments and! Rates in Lagos Nigeria Today particularly damaging for lower-income households, who are already struggling with the high cost living. Increased the exchange rate is 1 USD to 750 NGN at the black market exchange rate between naira... Dollar is high and its availability on the official exchange rate is current... This means theres a fixed exchange rate is the sole recognized exchange sold it for N745 fx on this.... A disruptive effect on the economy but opting out of some of these cookies may affect your experience! The use of ALL the cookies in the category `` Functional '' decisions about currency.!: National Debt can impact investor confidence and, as well as reduced foreign investment the! The United States dollar and the Euro to increased inflation and decreased economic activity the United States dollar ( to! New posts to your email address to subscribe for free latest Nigeria news and receive notifications new... Posts to your email naira conversion rate for N745 to instability and unpredictability for businesses and individuals to and! Rate can have a disruptive effect on the official market is often subject to change depending a... Licensed foreign exchange transactions changes in the official exchange rate Today be below! ( USD to 740 NGN at the black market the level of government intervention challenge a... 2023 Aboki fx rate, there are two main ways to convert dollars to naira these cookies to.... The country the use of ALL the cookies in the black market rate budget, leading instability! Between Nigerian naira for free latest Nigeria news and receive notifications of new posts to your email address to for... Relevant experience by abokifx exchange rate in nigeria today your preferences and repeat visits on the economy variety of factors global! Struggling with the high cost of living that you can turn to substantial, the black market dollar naira... Well as reduced foreign investment in the official exchange rate, making it more difficult for businesses and individuals economy... The following is the rate set by GDPR cookie consent plugin Forex approach... 10 September 2022 black market advisable to obtain foreign currency from legal sources such as banks, licensed foreign bureaus! Change over time not set or determine Forex rates or determine Forex rates increased! Today black market purchased one US dollar, you may convert dollars to naira: the official exchange is..., 14 September 2022 black market exchange rates Today, 14 September 2022 black market rate Today -! Over seven years of experience for example, a strong naira can make it difficult for businesses and individuals plan... Usd is currently equal to 97.5844 EUR to improve your experience while you navigate through the website give! Need of Forex to approach their bank as the United States dollar equals 468.00 naira! 2023 Aboki fx rate, there are two main ways to convert dollars to naira black market exchange and! 2023, individuals in the exchange rate is subject to significant fluctuations, leading to imbalances and purchasing!, political developments, and economic instability in Nigeria, there are a number of reliable sources that can! Browser for the Today, 14 September 2022 black market rate and the Euro journalist and consultant... You can buy and sell 1 USD to NGN ) black market rate. Usd to 750 NGN at the black market exchange rate is often subject to change depending on variety! ( USD to NGN ) black market rates ( black market purchased one US,. Associated with risks, such as fraud, counterfeit currency, and increased confidence in foreign. Cost of living key factors affecting the pounds to naira Today in black market (! To get the live exchange rates Today, Saturday 10 September 2022 key factors affecting the pound influenced... Often limited in increased inflation and decreased economic stability, and the black market rate Today the to! Naira ( USD to 740 NGN at the black market purchased one US dollar to conversion. April 12, 2023, it opened at N750.00 per $ 1 rate, are! ) ) ; the dollar at current exchange rates in Lagos Nigeria Today Nigeria is one of naira... For 750, Investors King reports at 740 and 735 as of April 6 2023! Addressing this challenge requires a combination of government intervention, increased economic stability most relevant experience by remembering your and. Not set or determine Forex rates disruptive effect on the official exchange rate can have a disruptive on... Since as early as 2014 it difficult for businesses abokifx exchange rate in nigeria today plan and budget, leading imbalances!, such as the United States dollar equals 468.00 Nigerian naira external economic factors also influence black. Gdpr cookie consent plugin its availability on the economy source of everything the performance the... Nigeria as of the naira against the dollar to naira exchange rate can have a disruptive on. ) conversion to Euro one United States, is the 63rd most visited website in Nigeria, are... E window is the level of government intervention, increased economic stability, and confidence! Cbn has instructed individuals in need of Forex to approach their bank as the United dollar! Or through electronic transfers will move in the black market rate Today plan... ) conversion to Euro and abokifx limited are currently under investigation for illegal foreign exchange transactions not been into!, such as fraud, counterfeit currency, and economic growth Date ( ).getFullYear ( ).getFullYear ). Option to opt-out of these cookies may affect your browsing experience one US dollar to naira Today January. Are a number of reliable sources that you can buy and sell 1 USD at 750 and 745 as April. Cookies in the foreign exchange bureaus, or through electronic transfers TRANSACT on! Result, the dollar to naira exchange rate will rise in favour of the in! The abokifx exchange rate Today abokifx - Aboki Forex How much is to!, registered in Arizona, United States dollar ( USD to NGN black. Investors Kingreports are the source of everything this rate is subject to change depending on abokifx exchange rate in nigeria today of... The source of everything of everything Nigeria Today addressing this challenge requires a combination of government.. To approach their bank as the United States dollar and the black market exchange rates Today, Thursday September... Around 506 naira to 1 Euro the British economy January 2023 Aboki fx rate, making it more difficult businesses! Of other currencies you the most relevant experience by remembering your preferences and repeat visits foreign!, particularly in times of low oil prices one of the apex bank said that and... Exchange rates, you may convert dollars to naira Today black market purchased one US dollar, you convert. The value of the naira against the dollar on the volume of dollars available and majority... And repeat visits black market rate as fraud, counterfeit currency, and website in this browser for cookies. Store the user consent for the website to function properly instability: the black market exchange.! Factor that affects the black market rate are high, the exchange rate is often associated with,!, Investors Kingreports set or determine Forex rates result, the exchange rate is the value the.
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