NAIJASHOWBIZ is reporting that the exchange rate of the dollar to naira black market today Tuesday, October 24th, 2023 has slumped to N1,250 per dollar.
The naira has maintained its downward freefall as scarcity of the dollar bites harder, findings by NAIJASHOWBIZ have revealed.
At the parallel market, naira commenced trading at 1,200/$ and closed at 1,250/$ on Tuesday.
Two weeks earlier, the naira had traded at 1,100/$ at the parallel market.
Some Bureau de Change Operators quoted by Punch Newspapaper maintained that the dollar was scarce as many did not have forex to sell to customers.
A BDC operator, Jubril Mutiu, said, “On Friday, the price was 1,175/$, but we don’t even have it. It is not available right now.”
Another BDC operator, Adamu Afeez, said, “We are looking for those to sell to us, but now, we don’t have the dollar to buy. If we don’t have one, we cannot sell.”
Before floating the naira, it traded at the official market on the FMDQ at 471.67/$ and at the parallel market at 765/$ in June.
The President, Association of Bureaux De Change Operators of Nigeria, Dr Aminu Gwadabe, said achieving stable, strong and virile exchange rate in Nigeria would require full participation of BDCs in the retail segment of the forex exchange market.
He said the challenges confronting the nation’s forex market and depreciation of the naira required cooperation from all.
The BDCs, he said, were licensed to play at the retail end of the forex market and should be fully involved in providing lasting solutions to the ongoing volatility in the exchange rate.
Naira to Dollar Black Market Exchange Rate on Monday 23rd October, 2023
As of today Monday October 23rd 2023, the naira is currently in freefall in value against the US dollar, exchanging at 1 USD to 1,170 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦1,160 and selling at N1,170. This is according to information gathered from Bureaux De Change (BDC) operators in Lagos and Abuja leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1,160 |
| Selling Rate | 1,170 |
Dollar to Naira Black Market Exchange Rate on Saturday 21st October, 2023
The naira to dollar exchange rate has continued to crash and is currently exchanging at a record low of N1,170 to a dollar at the black market. As of today Saturday October 21st, 2023, the naira crashed its value against the US dollar, to exchange at 1 USD to 1,170 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦1,160 and selling at N1,170. This is according to information gathered from Bureaux De Change (BDC) operators in Lagos and Abuja leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1,160 |
| Selling Rate | 1,170 |
What is the Naira to Dollar Black Market Exchange Rate Thursday 19th October, 2023
VERY SERIAL is reporting that naira to dollar exchange rate has crashed to a record low of N1,100 to a dollar at the black market.
As of today Thursday October 19th, 2023, the naira crashed its value against the US dollar, to exchange at 1 USD to 1,100 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦1,090 and selling at N1,100. This is according to information gathered from Bureaux De Change (BDC) operators in Lagos and Abuja leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1,090 |
| Selling Rate | 1,100 |
Dollar To Naira Black Market Exchange Rate 17th October, 2023
As of today Tuesday October 17th, 2023, the naira strengthened its value against the US dollar, to exchange at 1 USD to 1,040 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦1,030 and selling at N1,040. This is according to information gathered from Bureaux De Change (BDC) operators in Lagos and Abuja who maintained that the average buying rate of the dollar is N1,030 while the selling price is N1,040 leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1,030 |
| Selling Rate | 1,040 |
Dollar To Naira Black Market Exchange Rate 16th October, 2023
As of today Monday October 16th, 2023, the naira maintained its exchange rate with respect to the US dollar, falling in value to record low at 1 USD to 1,050 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦1,040 and selling at N1,050.
This is according to information gathered by VERY SERIAL REVIEW from Aboki FX, an online portal that monitors dollar to naira exchange rate on a daily basis. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N1,040 while the selling price is N1,050 leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1,040 |
| Selling Rate | 1,050 |
How much is $1 dollar in Naira now?
How much is $100 dollar in Naira now?
$100 dollar in Naira today is N105,000
Dollar To Naira Black Market Exchange Rate 15th October, 2023
As of today Sunday October 15th, 2023, the naira maintained its exchange rate respect to the US dollar, falling in value to record low at 1 USD to 1,050 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦1,040 and selling at N1,050. This is according to information gathered by VERY SERIAL REVIEW from Aboki FX, an online portal that monitors dollar to naira exchange rate on a daily basis. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N1,040 while the selling price is N1,050 leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1,040 |
| Selling Rate | 1,050 |
Dollar To Naira Black Market Exchange Rate 14th October, 2023
As of today Saturday October 14th, 2023, the naira continue in its free fall with respect to the US dollar, crashing in value to historic low at 1 USD to 1,050 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦1,040 and selling at N1,050. This is according to information gathered by VERY SERIAL REVIEW from Aboki FX, an online portal that monitors dollar to naira exchange rate on a daily basis. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N1,040 while the selling price is N1,050 leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1,040 |
| Selling Rate | 1,050 |
Dollar To Naira Black Market Exchange Rate 13th October, 2023
As of today Friday October 13th, 2023, the naira continue in its free fall with respect to the US dollar, crashing in value to historic low at 1 USD to 1,040 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦1,030 and selling at N1,040. This is according to information gathered by VERY SERIAL REVIEW from Aboki FX, an online portal that monitors dollar to naira exchange rate on a daily basis. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N1,030 while the selling price is N1,040 leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1,030 |
| Selling Rate | 1,040 |
Dollar To Naira Black Market Exchange Rate 6th October, 2023
As of today Friday October 6th, 2023, the naira remain steady with respect to the US dollar, maintaining its exchange rate at 1 USD to 1,000 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦992 and selling at N1,000. This is according to information gathered by VERY SERIAL REVIEW from Aboki FX, an online portal that monitors dollar to naira exchange rate on a daily basis. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N992 while the selling price is N1,000 leaving a N8 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 992 |
| Selling Rate | 1,000 |
Dollar To Naira Black Market Exchange Rate 5th October, 2023
As of today Thursday October 5th, 2023, the naira continues to strengthen with respect to the US dollar, exchanging at 1 USD to 1,000 NGN at the parallel market popularly called black market, gaining N5 within 24 hours.. Buyers reported buying one US dollar for ₦990 and selling at N1,000. This is according to information gathered by QUICK LOAN ARENA from Aboki FX, an online portal that monitors dollar to naira exchange rate on a daily basis. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N990 while the selling price is N1,000 leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 990 |
| Selling Rate | 1,000 |
How Much is Dollar To Naira Black Market Today 5th October, 2023?
The dollar to naira black market exchange rate today Thursday October 5th, 2023, trading opened with the naira exchanging at 1 USD to 1,000 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦990 and selling at N1,000, leaving a N10 profit margin.
Dollar To Naira Black Market Exchange Rate 4th October, 2023
As of today Wednesday October 4th, 2023, the naira strengthened with respect to the US dollar, exchanging at 1 USD to 1,005 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦995 and selling at N1,005. This is according to information gathered by QUICK LOAN ARENA from Aboki FX, an online portal that monitors dollar to naira exchange rate on a daily basis. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N995 while the selling price is N1,005 leaving a N10 profit margin.
How Much is Dollar To Naira Black Market Today 4th October, 2023?
The dollar to naira black market exchange rate today Wednesday October 4th, 2023, trading opened with the naira exchanging at 1 USD to 1,005 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦995 and selling at N1,005, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 995 |
| Selling Rate | 1,005 |
How Much is Dollar To Naira Black Market Today 29th September, 2023
As of today Friday, September 29th, 2023, the naira continue to tumble in value with respect to the US dollar, exchanging at 1 USD to 1,008 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦1,000 and selling at N1,008. This is according to information gathered by QUICK LOAN ARENA from Aboki FX, an online portal that monitors dollar to naira exchange rate on a daily basis.. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N985 while the selling price is N995, leaving a N10 profit margin.
How Much is Dollar To Naira Black Market Today 29th September, 2023?
The dollar to naira black market exchange rate today Friday September 29th, 2023, trading opened with the naira exchanging at 1 USD to 1,008 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦1,000 and selling at N1,008, leaving a N8 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1,000 |
| Selling Rate | 1,008 |
How Much is Dollar To Naira Black Market Today 25th September, 2023
As of today Monday, September 25th, 2023, the naira continue to lose value with respect to the US dollar, exchanging at 1 USD to 995 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦985 and selling at N995. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N985 while the selling price is N995, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 985 |
| Selling Rate | 990 |
How Much is Dollar To Naira Black Market Today 22nd September, 2023
As of today Friday, September 22nd, 2023, the naira continue to lose value with respect to the US dollar, exchanging at 1 USD to 990 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦985 and selling at N990. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N985 while the selling price is N990, leaving a N5 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 985 |
| Selling Rate | 990 |
How Much is Dollar To Naira Black Market Today 21st September, 2023
The dollar to naira black market exchange rate today Thursday September 21st, 2023 opened with the naira exchanging at 1 USD to 980 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦970 and selling at N980, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 985 |
| Selling Rate | 990 |
The Nigerian naira depreciation was attributed to strong demand for dollars by individuals travelling for business, school, medical or tourism.
Dollar To Naira Black Market Today Wednesday 20th September, 2023
As of today Wednesday, September 20th, 2023, the naira continue to tumble with respect to the US dollar, exchanging at 1 USD to 957 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦950 and selling at N965. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N957 while the selling price is N965, leaving a N8 profit margin.
How Much is Dollar To Naira Black Market Today Wednesday 20th September, 2023
The dollar to naira black market exchange rate today Wednesday September 20th, 2023, the naira exchanges at 1 USD to 965 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦957 and selling at N965, leaving a N5 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 957 |
| Selling Rate | 965 |
Dollar To Naira Black Market Today Friday 15th September, 2023
As of today Friday, September 15th, 2023, the naira continue to tumble with respect to the US dollar, exchanging at 1 USD to 955 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦945 and selling at N955. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N945 while the selling price is N955, leaving a N10 profit margin.
How Much is Dollar To Naira Black Market Today Friday 15th September, 2023
The dollar to naira black market exchange rate today Friday September 15th, 2023, the naira exchanges at 1 USD to 955 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦945 and selling at N955, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 945 |
| Selling Rate | 955 |
Dollar To Naira Black Market Today Thursday 14th September, 2023
As of today Thursday, September 14th, 2023, the naira continue to tumble with respect to the US dollar, exchanging at 1 USD to 950 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦940 and selling at N950. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N940 while the selling price is N950 per dollar, leaving a N10 profit margin.
How Much is Dollar To Naira Black Market Today Thursday 14th September, 2023
The dollar to naira black market exchange rate today Thursday September 14th, 2023, the naira exchanges at 1 USD to 950 NGN at the parallel market popularly called black market. Buyers were buying one US dollar for ₦940 and selling at N950, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 940 |
| Selling Rate | 950 |
Dollar To Naira Black Market Today Monday 11th September, 2023
As of Monday September 11th, 2023, the naira continue to exchange at 1 USD to 930 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920 and selling at N930. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N920 while the selling price is N930 per dollar, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 920 |
| Selling Rate | 930 |
How much is dollar to naira today in black market September 11th, 2023?
On Monday September 11, 2023, the Naira retained its value to trade at the rate of N930/$1. This implies that 1 US dollar was bought for N920/$1 at the black market and sold to willing buyers at N930/$. The naira depreciation was attributed to an increased demand for dollars.
Dollar To Naira Black Market Today Sunday 10th September, 2023
As of Sunday September 10th, 2023, the naira continue to exchange at 1 USD to 930 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920 and selling at N930. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N920 while the selling price is N930 per dollar, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 920 |
| Selling Rate | 930 |
Dollar To Naira Black Market Today Saturday 9th September, 2023
On Saturday September 9, 2023, the US dollar is trading at the rate of N930/$1 at the parallel market. This implies that 1 US dollar was bought for N920/$1 at the black market and sold to willing buyers at N930/$. The naira depreciation is attributable to an increased demand for the greenback as increased FX inflow has failed to lift dollar reserves and meet demand.
How much is dollar to naira today in black market September 9th, 2023?
As of Saturday September 9th, 2023, the naira lost further N5 to exchange at 1 USD to 930 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920 and selling at N930. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N920 while the selling price is N930 per dollar, leaving a N10 profit margin.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 920 |
| Selling Rate | 930 |
Dollar To Naira Black Market Rate Today Thursday 7th September, 2023
On Thursday September 7, 2023, the US dollar is trading at the rate of N925/$1 at the parallel market. This implies that 1 US dollar was bought for N915/$1 at the black market and sold to willing buyers at N925/$. The naira depreciation is attributable to an increased demand for the greenback as increased FX inflow has failed to lift dollar reserves.
Dollar To Naira Black Market Rate Today Tuesday 5th September, 2023
On Tuesday September 5, 2023, the US dollar lost N2 to trade at the rate of N917/$1. This implies that 1 US dollar was bought for N912/$1 at the black market and sold to willing buyers at N917/$. The naira depreciation is attributable to an increased demand for the greenback.
How much is dollar to naira today in black market September 5th, 2023?
As of Tuesday September 5th, 2023, the naira lost N2 to exchange at 1 USD to 917 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦912 and selling at N917. This is according to information gathered by VERY SERIAL from Aboki FX, an online platform that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N912 while the selling price is N917 per dollar, leaving a N5 profit margin as seen below:
How Much is Pound to Dollar Exchange Rate Today September 5 2023?
As of Tuesday September 5th, 2023, the British pound opened with £1 to $1.2628 and closed with $1.2620. At the highest, £1 exchanged $1.2632 while at the lowest, it exchanged $1.2619. On the average on September 5th, £1 is been traded at $1.2625. This is according to information provided by poundsterlinglive.com, an online portal that monitors the live exchange rate between the dollar and pounds sterling.
The table below shows the pound to dollar conversion metrics for Tuesday September 5, 2023.
| Date 5/9/2023 | Open | Close | High | Low | Mid |
September 5th, 2023 |
|||||
| Tuesday 5 September 2023 (05/09/2023) |
1.2628
|
1.2620
|
1.2632
|
1.2619
|
1.2625
|
| Monday 4 September 2023 (04/09/2023) |
1.2589
|
1.2628
|
1.2642
|
1.2587
|
1.2615
|
| Friday 1 September 2023 (01/09/2023) |
1.2673
|
1.2588
|
1.2713
|
1.2577
|
1.2645
|
Dollar To Naira Black Market Exchange Rate Today Monday 4th September, 2023
On Sunday September 3, 2023, the US dollar retained its value to trade at the rate of N915/$1. This implies that 1 US dollar was bought for N910/$1 at the black market and sold to willing buyers at N915/$. The naira appreciation was attributed to a moderation in demand for dollars.
How much is dollar to naira today in black market September 2nd, 2023?
As of Friday September 1st, 2023, the naira firmed up its value against the greenback to exchange at 1 USD to 915 NGN at the parallel market popularly called black market gaining 0.54%. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N910 while the selling price is N915 per dollar, leaving a N5 profit margin.
How much is dollar to naira at the Investors’ and Exporters’ (I&E) window today September 2nd, 2023?
Dollar was quoted at N740.99 on Friday September 1st, 2023 at the Investors’ and Exporters’ (I&E) window, the country’s official FX market. This implies that the US dollar was purchased at N739.99 and sold at N740.99 leaving a profit margin of N1 per each US dollar sold at the investors’ and exporters’ (I & E) window segment of the market popularly called the official Central Bank of Nigeria (CBN) market.
Find below official exchange rate of a number of currencies to the Naira from the Website of the CBN.
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 9/1/2023 | US DOLLAR | 739.99 | 740.49 | 740.99 |
| 9/1/2023 | POUNDS STERLING | 934.0894 | 934.7205 | 935.3517 |
| 9/1/2023 | EURO | 800.2992 | 800.8399 | 801.3807 |
| 9/1/2023 | SWISS FRANC | 836.9034 | 837.4689 | 838.0344 |
| 9/1/2023 | YEN | 5.0691 | 5.0725 | 5.076 |
| 9/1/2023 | CFA | 1.3265 | 1.3365 | 1.3465 |
| 9/1/2023 | WAUA | 1077.7471 | 1078.4753 | 1079.2035 |
| 9/1/2023 | RIYAL | 197.2886 | 197.4219 | 197.5552 |
| 9/1/2023 | DANISH KRONA | 107.3647 | 107.4373 | 107.5098 |
| 9/1/2023 | SDR | 984.2607 | 984.9257 | 985.5908 |
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
Dollar To Naira Black Market Exchange Rate Today Friday 1st September, 2023
The Nigerian naira on Thursday continues at N920 against the dollar at the parallel segment of the foreign exchange (FX) market, following strong demand for the greenback. Dealers continue buying from willing sellers at N915/$ while selling at N920/$ to willing buyers.
How much is dollar to naira today in black market September 1st, 2023?
As of Thursday August 31st, 2023, the naira retained its value against the greenback to exchange at 1 USD to 920 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920. Bureaux De Change (BDC) operators say the buying rate of the dollar is N915 while the selling price is N920 per dollar, leaving a N5 profit margin.
How much is dollar to naira today at the Investors’ and Exporters’ (I&E) window September 1st, 2023?
Dollar was quoted at N757.52 on Thursday August 31st, 2023 at the Investors’ and Exporters’ (I&E) window, the country’s official FX market. This implies that the US dollar was purchased at N756.52 and sold at N757.52 leaving a profit margin of N1 per each US dollar sold at the investors’ and exporters’ (I & E) window segment of the market popularly called the official Central Bank of Nigeria (CBN) market. We have published details for exchange rate of naira to one US dollar, One Pounds Sterling, One Euro as well as other trading currencies for Thursday August 31st, 2023.
Find below official exchange rate of a number of currencies to the Naira from the Website of the CBN.
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 8/31/2023 | US DOLLAR | 756.523 | 757.023 | 757.523 |
| 8/31/2023 | POUNDS STERLING | 958.6659 | 959.2995 | 959.9331 |
| 8/31/2023 | EURO | 820.5248 | 821.0671 | 821.6094 |
| 8/31/2023 | SWISS FRANC | 855.0215 | 855.5866 | 856.1517 |
| 8/31/2023 | YEN | 5.1583 | 5.1618 | 5.1652 |
| 8/31/2023 | CFA | 1.3265 | 1.3365 | 1.3465 |
| 8/31/2023 | WAUA | 1077.7789 | 1078.4912 | 1079.2035 |
| 8/31/2023 | RIYAL | 201.6964 | 201.8297 | 201.963 |
| 8/31/2023 | DANISH KRONA | 110.0797 | 110.1525 | 110.2252 |
| 8/31/2023 | SDR | 1006.2512 | 1006.9163 | 1007.5813 |
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
How much is $1 dollar to naira in black market 2023?
As of Thursday August 31st, 2023, the naira continue to exchange at 1 USD to 920 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915 and selling at N920. Bureaux De Change (BDC) operators say the buying rate of the dollar is N915 while the selling price is N920 per dollar, leaving a N5 profit margin.
How much is $1 to naira in black market rate?
$1 to naira in black market is N920 as Buyers in the parallel segment of the forex market reported buying one US dollar for ₦915 and selling at N920 on Thursday August 31st, 2023.
How much is $100 dollar to naira today in black market?
$100 to naira in black market is N92,000 as buyers in the parallel segment of the forex market reported buying one US dollar for ₦915 and selling at N920 on Thursday August 31st, 2023, thereby giving $100 to N92,000 in black market.
How much is $1 dollar in naira now?
$1 dollar in naira right now is N920 as of Thursday, August 31st 2023 according to the table below.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 915 |
| Selling Rate | 920 |
Dollar To Naira Black Market Exchange Rate Today Thursday 31st August, 2023
The Nigerian naira on Wednesday fell to a new low of N920 against the dollar at the parallel segment of the foreign exchange (FX) market, following strong demand for the greenback. Dealers were buying from willing sellers at N915/$ while selling at N920/$ to willing buyers.
How much is dollar to naira today in black market August 31st, 2023?
As of Wednesday August 30th, 2023, the naira lost N5 to exchange at 1 USD to 920 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920. Bureaux De Change (BDC) operators say the buying rate of the dollar is N915 while the selling price is N920 per dollar, leaving a N5 profit margin.
During the intraday trading on Tuesday, the dollar was quoted at N920/$1, which represents 0.54 percent (N5) depreciation compared to N915 per dollar traded during the morning session.
The exchange rate gap between the official and parallel segments of the foreign exchange market has widened to N150 per dollar from N96/$1 after FX unification in June amid tight supply of the greenback.
The naira on Tuesday fell to N920- N925 per dollar at the parallel market, following strong demand for the greenback. Dealers were buying from willing sellers at N915/$ while selling at N920-N925/$ to willing buyers.
During the intraday trading on Tuesday, the dollar was quoted at N920-N925/$1, which represents 1.09 percent depreciation compared to N915 per dollar traded during the morning session.
How much is dollar to naira today in Investors’ and Exporters’ (I&E) window August 31st, 2023?
Dollar was quoted at N775.34 on Tuesday August 30th, 2023 at the Investors’ and Exporters’ (I&E) window, the country’s official FX market.
Dollar To Naira Black Market Exchange Rate Today Wednesday 30th August, 2023
As of Tuesday August 29th, 2023, the naira continue to exchange at 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.
The Nigerian naira has maintained its value, in the black market relative to the US dollar, closing at N915 to a dollar on Tuesday. The value remained at 915/$ on Tuesday.
Dollar To Naira Black Market Exchange Rate Today Tuesday 29th August, 2023
As of Monday August 29th, 2023, the naira continue to exchange at 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.
The Nigerian naira has maintained its value, in the black market relative to the US dollar, closing at N915 to a dollar on Monday. This has been the exchange rate since on Thursday. The value remained at 915/$ on Monday.
Exchange Rate of Dollar To Naira in Black Market Today?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 855 |
| Selling Rate | 860 |
The local currency (AbokiFx) opened at N860.00 per $1 at the parallel market otherwise known as the black market, on Thursday, 20th July 2023, in Lagos, Nigeria, after it closed at N830.00 per $1 on Wednesday, 19th July 2023.
Nigeria’s currency on Wednesday fell to all-time low of N860 per dollar at the parallel segment of the foreign exchange (FX) market, also called the black market.
The naira depreciation followed strong demand for dollars by individuals and importers who want to travel for summer holidays and business, a trader said.
One of the traders who gave his name as Bala said, “there’s dollars in the market, and we have buyers too”.
The foreign exchange market opened on Wednesday with naira depreciating to N830. This represents 3.48 percent (N30) lost in naira value in less than 12 hours.
At the Investors’ and Exporters’ (I&E) forex window, naira also weakened by 6.83 as the dollar was quoted at N793.70 on Wednesday as against N742.93/$1 quoted on Tuesday, data from the FMDQ indicated.
Willing buyers and sellers maintained bids as high as N853.00 and N699.50, lower bids were recorded during the FX market auction.
The daily foreign exchange market turnover increased significantly by 152.35 percent to $87.19 million on Wednesday from $34.55 million recorded on Tuesday.
On June 14, 2024 the CBN collapsed all segments of the FX market into I&E window, Nigeria’s official foreign exchange market, and re-introduced the willing buyer and willing sellers.
Consequently, the official exchange rate rose from N463.38/$ to N793.70, the current rate.
Despite the CBN’s floating of the naira, a large supply deficit remains in the fx market, said analysts at FBNQuest.
“Therefore, we expect substantial volatility in the naira exchange rate, at least in the near term. Also, we do not see an increase in liquidity from foreign portfolio investors as they will likely remain on the sidelines until they can repatriate a substantial proportion of their trapped fx funds, estimated at roughly USD3bn. In this context, we see an end-year rate of N825/USD,” the analysts said.
According to the analysts, sweeping reforms revamped the foreign exchange market, uniting fragmented market segments, eliminating trading restrictions, and bridging the gaping chasm between the official and parallel market rates. These actions aim to attract investments and stimulate economic growth.
“We are optimistic that the policy reforms investors have embraced will steer the nation towards a positive growth trajectory and lay the foundation for sustainable growth,” the analysts said.
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Exchange Rate of Dollar To Naira Exchange Rate Today Monday 19th June, 2023
In this review, I will be reviewing the Dollar to Naira Exchange Rate today following the unification of the exchange rates by the Nigeria’s apex bank.. VERY SERIAL understands that the Central Bank of Nigeria (CBN) on Wednesday collapsed all segments of foreign exchange markets into the Investors and Exporters (I&E) forex window.
Naira Plunges To N770 to Dollar, Loses 16.18% Over The Weekend
The Naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging N770 to the dollar. The local currency showed a 16.18 per cent decrease when compared with N663.04 it exchanged to the dollar at the close of business on June 16.
The open indicative rate closed at N703.50 to the dollar on Monday.
An exchange rate of N799 to the dollar was the highest rate recorded within the day’s trading before it settled at N770.38. The Naira sold for as low as N461 to the dollar within the day’s trading.
A total of 78.03 million dollars was traded at the official Investors and Exporters window on Monday.
The dollar had quoted at the rate of N702.19 at the Investors and Exporters (I&E) forex window on Thursday, the first trading day after the Central Bank of Nigeria (CBN) unified foreign exchange (FX) market segments.
Thursday’s rate was a 5.43 percent depreciation from N664.04 per dollar quoted on Wednesday at the I&E window, Nigeria’s official market.
The Central Bank of Nigeria (CBN) collapsed all segments of foreign exchange markets into the Investors and Exporters (I&E) forex window last week Wednesday.
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Exchange Rate of Dollar To Naira Exchange Rate Today Friday 16th June, 2023
Dollar quoted at the rate of N702.19 at the Investors and Exporters (I&E) forex window on Thursday, the first trading day after the Central Bank of Nigeria (CBN) unified foreign exchange (FX) market segments.
Thursday’s rate was a 5.43 percent depreciation from N664.04 per dollar quoted on Wednesday at the I&E window, Nigeria’s official market.
The Central Bank of Nigeria (CBN) has finally collapsed all segments of foreign exchange markets into the Investors and Exporters (I&E) forex window.
Angela Sere-Ejembi, director of financial markets, disclosed this in a circular to authorised dealers and the general public, saying applications for medicals, school fees, business travel allowance and personal travel allowance (BTA/PTA), and SMEs would continue to be processed through deposit money banks.
Traders said Thursday that demand for dollars at the black market has dropped after Nigeria’s bold move yesterday to float the naira.
The drop in demand in the black market comes as no surprise as several businesses that had turned to that market after being starved of dollars at the official market will now return to the official market for transactions.
“Nigeria’s FX reforms have commenced, proceeding faster than we had earlier anticipated,” Standard Chartered Bank said in a note by Razia Khan, head of research, Africa and Middle East, and Samir Gadio, head, Africa Strategy.
In response to Nigeria’s FX, the bank said, there is no interbank trading, trades are conducted on a matching ‘willing buyer, willing seller’ principle, and a limit of N 1 on bid-ask spreads remains in place. Nonetheless, the latest measure suggests that banks can bid higher for FX if they have a buyer willing to transact around the same price.
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Dollar To Naira Black Market Exchange Rate Today Friday 26th May, 2023 [Aboki fx rate]
In this review, we will be detailing the Dollar to Naira Black Market Exchange Rate [AbokiFx Rate] today. VERY SERIAL understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N750 and sell at N755 as of the time of filing this report.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 750 |
| Selling Rate | 755 |
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In this daily review, we will be detailing Dollar to Naira Black Market Exchange Rate [AbokiFx Rate] on a daily basis. We will also review the latest and up-to-date dollar to Naira official CBN rate as well as the Aboki dollar rate to Naira in Nigeria today.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 732 |
| Selling Rate | 740 |
The local currency (AbokiFx) opened at N740.00 per $1 at the parallel market otherwise known as the black market, on Thursday, 27th April 2023, in Lagos, Nigeria, after it closed at N738.00 per $1 on Wednesday, 26th April 2023.
Bureaux De Change (BDC) operators, popularly known as ‘abokis’ in Ikeja, Lagos, was quoted as saying the buying rate of the greenback is N732 while the selling price is N740 per dollar, leaving a N8 profit margin.
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Exchange Rate of Dollar To Naira in Black Market Today?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 740 |
| Selling Rate | 745 |
The local currency (AbokiFx) opened at N745.00 per $1 at the parallel market otherwise known as the black market, today, Sunday, 23rd April 2023, in Lagos, Nigeria, after it closed at N745.00 per $1 on Saturday, 22nd April 2023.
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Dollar To Naira Black Market Exchange Rate Today Saturday 22nd April, 2023 [Aboki fx rate]
This digital news platform has obtained the official naira black market exchange rate in Nigeria for today 22nd April 2023, in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today?
Dollar to naira black market exchange rate today black market (Aboki dollar rate):
Very Serial understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N740 and sell at N745 as of the time of filing this report.
Exchange Rate of Dollar To Naira in Black Market Today?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 740 |
| Selling Rate | 745 |
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Dollar To Naira Black Market Exchange Rate Today Saturday 15th April, 2023 [Aboki fx rate]
The local currency (abokiFx) is currently trading at N740.00 per $1 at the parallel market otherwise known as the Black market today, Saturday, 15th April 2023, in Lagos, Abuja, and across Nigeria and selling at N745. It closed at N737.00 per $1 on Friday, 14th April 2023. The US Dollar has been traded at an average of ₦735 – N745 when Black Market opened this week on Monday, April 10, 2023.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 740 |
| Selling Rate | 745 |
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Dollar To Naira Black Market Exchange Rate Today Thursday 13th April, 2023 [Aboki fx rate]
The local currency (abokiFx) is currently exchanging at N737.00 per $1 at the parallel market otherwise known as the Black market, today, Thursday, 13th April 2023, in Lagos, Abuja, and across Nigeria, after it closed at N740.00 per $1 on Wednesday, 12th April 2023. The US Dollar has been traded at an average of ₦750 – N755 when Black Market closed this week on Monday, April 7, 2023.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 737 |
| Selling Rate | 743 |
What Is The Latest Official Exchange Rate For Dollar To Naira Today At The Investors And Exporters (I&E) Forex Window?
Official exchange rate between the Naira and the US dollar according to the data released on the FMDQ Security Exchange, the official forex trading portal showed that the Naira sold and closed at ₦463.44 per dollar on Tuesday, April 25, 2023.
At the investors and exporters (I&E) forex window, the local currency appreciated by 0.05 percent to close at N463.44 on Tuesday, according to details on FMDQ OTC Securities Exchange — a platform where FX is officially traded..
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Exchange Rate For A Dollar To Naira at the Parallel Market (Black Market) is N735 buying price and selling price is at N740 On Tuesday April 11th, 2023.
The local currency (abokiFx) opened at N735.00 per $1 at the parallel market otherwise known as the Black market, today, Tuesday, 11th April 2023, in Lagos, Nigeria, after it closed at N754.00 per $1 on Monday, 10th April 2023. USD has been traded at ₦750 when Black Market closed last week on Friday, April 7, 2023.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 735 |
| Selling Rate | 740 |
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Dollar to Naira Black Market Exchange Rate Today Monday 10th April, 2023 [Aboki fx rate]
Exchange Rate For A Dollar To Naira at the Parallel Market (Black Market) is N754 and sells at N760 On Monday April 10th, 2023.
The local currency (abokiFx) opened at N754.00 per $1 at the parallel market otherwise known as the Black market, today, Monday, 10th April 2023, in Lagos, Nigeria, after it closed at N754.00 per $1 on Sunday, 9th April 2023. USD has been traded at ₦750 when Black Market closed last week on Friday, April 7, 2023.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 754 |
| Selling Rate | 760 |
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Differences and Dynamics of the Official CBN Rates and the Parallel (Black) Market Rates
Currently, Nigeria operates two foreign exchange (FX) markets: one is the official central bank rate, while the other is the parallel/black market rate.
Although the parallel segment is more accessible to traders and businesses who need FX, the Central Bank of Nigeria (CBN) has consistently maintained that it does not recognize the Parallel (black) market as according to the CBN IT represents less than one percent of forex transactions and should never be used to determine the exchange rate. It has directed individuals who want to engage in Forex to approach their respective banks.
The dollar to Naira black market exchange rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website, cbn.gov.ng.
The dollar to naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. These rates are almost always cheaper than those available at the black market otherwise called parallel market.
Official Exchange Rate from CBN Website for today Thursday, 19th April 2023.
Find below official exchange rate of a number of currency to the Naira from the Website of the CBN.
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 4/19/2023 | US DOLLAR | 460.03 | 460.53 | 461.03 |
| 4/19/2023 | POUNDS STERLING | 570.9432 | 571.5638 | 572.1843 |
| 4/19/2023 | EURO | 502.9968 | 503.5435 | 504.0902 |
| 4/19/2023 | SWISS FRANC | 511.6561 | 512.2122 | 512.7683 |
| 4/19/2023 | YEN | 3.4155 | 3.4192 | 3.4229 |
| 4/19/2023 | CFA | 0.7501 | 0.7601 | 0.7701 |
| 4/19/2023 | WAUA | 619.8602 | 620.5339 | 621.2076 |
| 4/19/2023 | YUAN/RENMINBI | 66.6914 | 66.7643 | 66.8373 |
| 4/19/2023 | RIYAL | 122.6616 | 122.7949 | 122.9282 |
| 4/19/2023 | SOUTH AFRICAN RAND | 25.1667 | 25.1941 | 25.2214 |
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
Critical Factors Affecting/Influencing Foreign Exchange (FOREX) Rates
1. Inflation Rates
It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is controlled, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.
2. Interest Rates
Another tool to keep an eye on is interest rates. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall.
3. Government Debt
National debt can impact investor confidence and, as a result, the influx of funds into the economy. If inflows are high, the naira exchange rate will rise in favour of the naira.
4. Speculators
Speculators frequently impact the naira-to-dollar exchange rate. They stockpile money in anticipation of a gain, causing the naira to plummet even lower.
5. Conditions of Trade
Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. Everything comes from China, India, and the majority of Asian countries.
