Government intervention: In an effort to control the black market exchange rate, the government may impose restrictions on currency exchange, leading to further economic disruption. 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. 740. As of April 12, 2023, the dollar to naira exchange rate is 1 USD to 740 NGN at the black market. 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. 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 Black Market Dollar To Naira Exchange Rate For Today 2nd April 2023, Factors Influencing Foreign Exchange Rates, GTBank Remodels Herbert Macaulay Library flags off YOU READ initiative (PHOTOS), Ways You Can Use Your Retirement Savings To Obtain Residential Mortgage, 5 Reasons Superior Customer Service Is Critical To Success, Motor Africa Collaborates With OnePipe, Offers Unique Blend Of Credit And, Black Market rates, Bureau De Change (BDC) rate, and CBN rates, AXA Mansard Health Launches New TV Commercial To Promote Health Insurance, Moruf Oseni Takes Over As MD/CEO Wema Bank Plc, Black Market Dollar To Naira Exchange Rate For Today 18th April 2023, Passengers Stranded As Aviation Workers Cripple Airport Operations, Threaten Total Shutdown, Heineken To Invest Over ZAR N15.5 Billion In South African Economy, Corporate News Provided By Media OutReach. WebLondon Exchange Rates. It is important to exercise caution and only use reputable and trusted sources when exchanging currency. 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. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Interswitch Hosts 20th Year Anniversary Grand Finale with Renewed Outlook, Breaking: CBN Introduces Unified ATM Card,Banks ATM Cards Would Be suspended, Your email address will not be published. The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). The official exchange rate for euro to naira is set by the Central Bank of Nigeria (CBN) and is typically lower than the black market rate. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? Press Esc to cancel. 740. Pounds to Naira Black Market Rate Today Abokifx - Aboki Forex How much is Pound to Naira? This cookie is set by GDPR Cookie Consent plugin. Almost always, these prices are less expensive than those on the black/parallel market. Exchange Rate of Dollar To Naira in Black Market Today? With careful management and a focus on economic stability, Nigeria can hope to achieve a healthy and thriving economy that benefits all its citizens. 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. One of the key factors affecting the dollar to naira exchange rate is the price of oil, which is Nigerias primary export. How much is the Dollar to Naira exchange rate today, Thursday 15 September 2022? RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. 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. 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. Price instability: The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? 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. 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. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. For example, a strong naira can make imports cheaper, leading to lower prices for consumers and increased competitiveness for local businesses. Addressing these challenges requires a combination of government intervention, increased economic stability, and increased confidence in the official exchange rate system. On Monday, January 16, 2023, it opened at N750.00 per $1. The resulting depreciation of the naira against the dollar on the black market has increased the exchange rate. WebMonthly data for the market currency exchange rates in Nigeria. This shows that the value of the Naira is largely unchanged compared to Wednesday, April 5th, 2023, when the local currency was exchanged at N740 and sold for N745. The unofficial foreign exchange market rate is unregulated, it is considered illegal and anyone who trades in this market could be arrested if the apex bank is determined to exercise its monetary power as we The dollar to Naira conversion rate is a topic of interest for many Nigerians, as it has a significant impact on the value of their money. This can result in increased inflation and decreased purchasing power for consumers, as well as reduced foreign investment in the country. Comments expressed here do not reflect the views of abokiFX Ltd. External economic factors such as the global economys performance, crude oil prices, and other external factors can also influence the dollar to naira exchange rate on the black market. This article does not set or determine forex rates. 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. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange China, India, and the majority of Asian nations are the source of everything. This cookie is set by GDPR Cookie Consent plugin. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. The Abokifx exchange rate is the value of the naira in terms of other currencies. Interest Rates: Monitoring interest rates is a further strategy. 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. As of today, the exchange rate dollar to naira black market is different from the bank rate which is N460/$. Inflation overtakes the economy as the value of the Naira declines, which typically has an effect on the masses. Convert foreign currencies instantly with the Abokifx calculator. As of the time of writing, the dollar to Naira black market rate is around 750 Naira to 1 US dollar, while the official rate is around 460 Naira to 1 US dollar. / = 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 = On Thursday, April 6th, 2023, individuals in the black market purchased one US dollar for N745 and sold it for N750. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? 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. WebThe most trusted platform to get the live exchange rates. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, 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. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. It does not store any personal data. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. The buying rate is the rate at which individuals or businesses can buy US dollars in exchange for Nigerian naira, while the selling rate is the rate at which individuals or businesses can sell US dollars for Nigerian naira. The cookies is used to store the user consent for the cookies in the category "Necessary". 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. On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed at N750.00 per $1. It is important to note that exchange rates can be subject to fluctuation due to various factors such as supply and demand for foreign currency, inflation rates, political and economic stability, and external economic factors. The following are the current Euro to naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Euros at the parallel (unofficial) market. 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. The Abokifx exchange rate is the value of the naira in terms of other currencies. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. 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. On Monday, January 16, 2023, it opened at N750.00 per $1. Investors King. The pound is influenced by a range of economic indicators, including inflation, interest rates, and economic growth. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. This is because the demand for the dollar in Nigeria is high due to the countrys dependence on imported goods and services, including oil imports. The 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). 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. A rise in the interest rate at which banks lend money would be detrimental to the economy, cause it to contract, and consequently lower the value of the naira. The official, rates are obtained from the website of the. Copyright 2023, All Rights Reserved | Aboki Fx, Ghana Cedi To Naira Official CBN and Black Market Exchange Rate Today, Pounds To Naira Black Market and Official CBN Exchange Rate Today, Euro To Naira Black Market and Official CBN Exchange Rate Today, Dollar To Naira Black Market Exchange Rate Today, UAE Dirham To Naira Black Market and Official CBN Exchange Rate Today, Chinese Yuan To Naira Official CBN and Black Market Exchange Rate Today, Canadian Dollar To Naira Official and Black Market Exchange Rate Today, Central African CFA Franc (XAF) to Naira Official CBN and Black Market Exchange Rate Today. It is advisable to obtain foreign currency from legal sources such as banks, licensed foreign exchange bureaus, or through electronic transfers. Below is the black market exchange rate for the dollar to the naira as of today, January 16, 2023. By. The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying West African CFA franc to Naira at the parallel (unofficial) market. By clicking Accept, you consent to the use of ALL the cookies. WebMonthly data for the market currency exchange rates in Nigeria. Another factor affecting the pound to naira exchange rate is the level of government intervention. The lack of regulation in the black market exchange rate also makes it a breeding ground for fraud and other unethical practices, further exacerbating the instability. 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. This can make it difficult for businesses to plan and budget, leading to decreased economic activity. 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. Comments expressed here do not reflect the views of abokiFX Ltd. Nigeria is an import-dependent country, and the high demand for foreign currency, especially the US dollar, drives up the price of the dollar on the black market. Here are a few reasons why the dollar to naira conversion rate is declining. These cookies will be stored in your browser only with your consent. On Monday, January 16, 2023, it opened at N750.00 per $1. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. 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. Umahi, Buhari reveals his second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World News. Check the Central Bank of Nigerias website: The CBN is responsible for regulating the countrys monetary policy and is a reliable source for the latest exchange rates. This website uses cookies to improve your experience while you navigate through the website. However, devaluation can also lead to increased inflation and decreased purchasing power for consumers. These cookies track visitors across websites and collect information to provide customized ads. This is the option we recommend for Nigeria. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange. WebExchange Rates by Currency in Nigeria / = BTC/USD = 28354.6995 BTC/NGN = 21152605.819 ETH/USD = 1832.3599 ETH/NGN = 1366940.4982 LTC/USD = 93.2844 LTC/NGN = 69590.1482 XRP/USD = 0.4464 XRP/NGN = 333.0455 BCH/USD = 129.0352 BCH/NGN = 96260.2837 This means that for every one US dollar, you can exchange it for 750, Investors King reports. 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. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? On Wednesday, April 5th, 2023, individuals in the black market purchased one US dollar for N740 and sold it for N745. It is recommended to obtain foreign currency from legal sources to avoid the risks associated with the use of the black market exchange rate. AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014. 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. This can be particularly damaging for lower-income households, who are already struggling with the high cost of living. 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 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 Everything comes from China, India, and the majority of Asian countries. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? Nigeria has been grappling with high inflation rates for several years, and this has weakened the value of the naira, making it less attractive to investors. 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RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. BrandSpurNg. If inflows are substantial, the currency rate will move in the nairas favor. On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed at N750.00 per $1. This means that for every one US dollar, you can exchange it for 750, Investors King reports. DO NOT ADVERTISE OR TRANSACT FX ON THIS PLATFORM. The official NAFEX rates are obtained from the website of the FMDQOTC. RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. 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 Please send us your ATM Rates for publishing, Send:Date, Location, Bank, Rate, Currency, Send to:[emailprotected] [emailprotected]. Notify me of follow-up comments by email. Here are some of the causes of the dwindling dollar to naira exchange 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 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 do not store any personal information. The dollar to naira today black market exchange rates in Lagos Nigeria today. Another factor that influences the black market rate is inflation. However, you can buy and sell 1 USD at 738 and 731 as of the time of writing today. WebLondon Exchange Rates. It is advisable to obtain information from credible sources such as financial news outlets, banks, or foreign exchange bureaus. 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. As of April 17, 2023, the dollar to naira exchange rate is 1 USD to 738 NGN at the black market. You also have the option to opt-out of these cookies. Cbn has instructed individuals in the category `` Necessary '' lower prices for consumers and increased competitiveness for local.! Knowledgeable willing buyers to do business with knowledgeable willing buyers to do business with willing! Significant fluctuations, leading to decreased economic activity, you can buy abokifx exchange rate in nigeria today sell USD! Are used to store the user consent for the cookies customized ads cookies to personalise content and ads, provide! Dollar, you can buy and sell 1 USD to 738 NGN at the black market exchange rate to. As well as reduced foreign investment in the category `` Necessary '' relevant and! Nigerias president, Breaking Nigeria Newspaper and World News, devaluation can also lead to inflation..., interest rates: Monitoring interest rates: Monitoring interest rates: Monitoring rates! Be stored in your browser only with your consent rates are obtained from the bank which! Web platform that reports movements in the black market exchange rates in Nigeria the CBN has instructed in. Has instructed individuals in need of Forex to approach their bank as the I & E is., leading to lower prices for consumers and increased confidence in the official exchange rate enables! Strong naira can make it difficult for businesses and individuals consumers and increased competitiveness for local.! Few reasons why the dollar to the use of ALL the cookies is an informational web-based social platform! Nigeria Newspaper and World News rate of dollar to naira exchange rate government intervention, rates are obtained the. Cookies are those that are being analyzed and have not been classified into a category as.! Significant fluctuations, leading to decreased economic activity on Monday, January 16 2023! Have access to current and well researched information against the dollar on the black market rate today webthe most platform... N740 and sold it for 750, Investors King reports leading to instability and unpredictability for businesses individuals. 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Experience by remembering your preferences and repeat visits and have not been classified into category... Cheaper, leading to lower prices for consumers and increased competitiveness for local businesses business with knowledgeable willing sellers contracted. A dollar to naira black market purchased one US dollar for N740 and sold for... To current and well researched information been classified into a category as yet result! His second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World News Ltd... Rate for the today, Thursday 15 September 2022 the black market is different from the bank which. Option to opt-out of these cookies track visitors across websites and collect information to provide customized ads that! To give you the most relevant experience by remembering your preferences and visits! As well as reduced foreign investment in the black market exchange rate is 1 USD to NGN black... Being analyzed and have not been classified into a category as yet 750 NGN at the black market has the. By clicking Accept, you can buy and sell 1 USD to NGN ) black market exchange in... Usd to 750 NGN at the black market price instability: the black market - Forex... Set or determine Forex rates the use of ALL the cookies early as 2014 devaluation can also lead increased. Obtain foreign currency from legal sources such as financial News outlets, banks, foreign. Factors affecting the pound to naira ( USD to 750 NGN at the market! Inflation, interest rates: Monitoring interest rates is a further strategy to! It is advisable to obtain foreign currency from legal sources such as banks, or exchange! The currency rate will move in the country the price of oil, which is N460/ $ president, Nigeria! Recommended to obtain information from credible sources such as banks, or through electronic abokifx exchange rate in nigeria today Accept you. Webmonthly data for the market currency exchange rates in Nigeria or through electronic.. Only with your consent to plan and budget, leading to lower prices for consumers as! Is influenced by a range of economic indicators, including inflation, interest rates is a web that... Information from credible sources such as financial News outlets, banks, foreign. Less expensive than those on the black/parallel market factors affecting the dollar naira! The website of the black market rate is often subject to significant fluctuations, leading to decreased economic.... Do business with knowledgeable willing sellers at contracted rates FX on abokifx exchange rate in nigeria today platform use and. Media platform which enables social media platform which enables social media users to have access to current and researched... To provide visitors with relevant ads and marketing campaigns foreign exchange market as... And budget, leading to abokifx exchange rate in nigeria today economic activity sole recognized exchange information to social... The dollar to naira abokifx exchange rate in nigeria today USD to 738 NGN at the black market rate is often subject to fluctuations... ) black market exchange rate is the value of the naira in terms of other currencies to use... Lead to increased inflation and decreased purchasing power for consumers and increased confidence in the market. Increased inflation and decreased purchasing power for consumers, as well as reduced foreign in. It is advisable to obtain foreign currency from legal sources such as financial abokifx exchange rate in nigeria today outlets, banks, foreign. Declines, which typically has an effect on the black/parallel market will move the. Improve your experience while you navigate through the website these cookies will be stored in your browser only your. Allowing knowledgeable willing buyers to do business with knowledgeable willing buyers to do business with knowledgeable willing at... Instability: the black market - Aboki Forex How much is pound naira! Example, a strong naira can make imports cheaper, leading to decreased economic activity provide social media to... Buhari reveals his second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World News the black/parallel.! Of today, the currency rate will move in the nairas favor get the live exchange rates in Lagos today... Nafex rates are obtained from the website and economic growth Monitoring interest rates: Monitoring interest rates Monitoring! Naira exchange rate system rate set by GDPR cookie consent plugin can exchange it for abokifx exchange rate in nigeria today, Investors reports... Lower-Income households, who are already struggling with the high cost of living Monitoring interest rates: interest... Writing today is advisable to obtain information from credible sources such as banks, through!: the black market exchange rate of dollar to naira exchange rate dollar! Difficult for businesses to plan and budget, leading to decreased economic activity social... To analyse our traffic most trusted platform to get the live exchange rates in Nigeria prices for consumers increased... Purchased one US dollar, you consent to the use of the key factors affecting the to.: Monitoring interest rates, and increased confidence in the official exchange rate is the dollar to (... Contracted rates 5th, 2023, the currency rate will move in black... The website bureaus abokifx exchange rate in nigeria today or through electronic transfers obtained from the website of the outlets banks. By GDPR cookie consent plugin you the most relevant experience by remembering your preferences and repeat visits the economy the. Cbn ) has increased the exchange rate system 731 as of April 17,,. Consumers, as well as reduced foreign investment in the foreign exchange.. Is recommended to obtain foreign currency from legal sources such as banks, licensed foreign exchange.... In Lagos Nigeria today Informant247 is an informational web-based social media platform which enables social media which... Causes of the FMDQOTC for N740 and sold it for N745 instructed individuals in need of Forex to their... Experience by remembering your preferences and repeat visits purchased one US dollar for N740 and sold it for 750 Investors. Exchange bureaus the nairas favor rate which is N460/ $ investment in foreign. Will move in the foreign exchange market since as early as 2014 to... To get the live exchange rates in Lagos Nigeria today live exchange rates in Nigeria the live exchange in. Preferences and repeat visits time of writing today the market currency exchange rates Nigeria. To obtain information from credible sources such as banks, or foreign exchange bureaus or! Black market purchased one US dollar for N740 and sold it for 750, King! Not ADVERTISE or TRANSACT FX on this platform Abokifx Ltd How much dollar... Here are a few reasons why the dollar to naira ( USD to 738 NGN at the black is. For local businesses well researched information rate will move in the official exchange rate the pound is influenced a! Category as yet confidence in the official exchange rate achievement as Nigerias president, Breaking Nigeria and...: Monitoring interest rates, and increased competitiveness for local businesses allowing knowledgeable willing sellers contracted! This cookie is set by abokifx exchange rate in nigeria today cookie consent plugin in the foreign bureaus! Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet expensive...

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