abokifx exchange rate in nigeria todayabokifx exchange rate in nigeria today

This phenomenon is a result of a combination of factors, including currency scarcity, price instability, and a lack of regulation. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. 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. 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. A: One Dollar is worth 460 Nigerian Naira today. Black market Dollar to Naira today 17th January 2023 Aboki fx rate, can be accessed below. By. 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. It also includes the euro to pounds exchange rates, euro to yen exchange rates, and euro to naira exchange rates among others. AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014. 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. The dollar to naira black market rate today, it is influenced by various factors such as demand and supply for foreign currency, inflation, political and economic stability, and external economic factors. You can check their website regularly for updates. 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. 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 According toInvestors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for N740 and sold for N735. This shows that the value of the Naira has improved compared to Saturday, April 15th, 2023, when the local currency was exchanged at N741 and sold for N745. It is advisable to obtain foreign currency from legal sources such as banks, licensed foreign exchange bureaus, or through electronic transfers. The resulting depreciation of the naira against the dollar on the black market has increased the exchange rate. The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). Convert foreign currencies instantly with the Abokifx calculator. The dollar to naira today black market exchange rates in Lagos Nigeria today. However, you can buy and sell 1 USD at 740 and 735 as of the time of writing today. 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. / = 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 = Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. It is important to exercise caution and only use reputable and trusted sources when exchanging currency. 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 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. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. While the official exchange rate is determined by the CBN and is typically used for official transactions, many Nigerians turn to the black market to buy and sell dollars. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange. It is referred to as the black market because it operates outside the official channels and is not regulated by the Central Bank of Nigeria (CBN). 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 Investors King. 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We also use third-party cookies that help us analyze and understand how you use this website. On Wednesday, April 12th, 2023, individuals in the black market purchased one US dollar for N735 and sold it for N740. Factors Influencing Foreign Exchange Rates Your comment will be published after the review process. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). The Abokifx exchange rate is the value of the naira in terms of other currencies. 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 official exchange rate is the rate set by the Central Bank of Nigeria (CBN). 750. Economic disruption: The black market exchange rate can have a disruptive effect on the economy, leading to imbalances and decreased economic stability. Another factor affecting the dollar to naira exchange rate is the level of government intervention. These cookies will be stored in your browser only with your consent. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange In recent years, Nigeria has experienced significant fluctuations in the dollar to naira exchange rate, leading to a range of economic challenges and opportunities. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. This can make it difficult for businesses to plan and budget, leading to decreased economic activity. Buying Rate. AbokiFX, registered in Arizona, United States, is the 63rd most visited website in Nigeria as of September 16, 2021. Reports on social media claim that Adedotun is being investigated for foreign exchange rate manipulation, but another source within the bank said he could not confirm the rumors. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. 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. 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. / = 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 = WebLondon Exchange Rates. In an effort to control the black market exchange rate, the government may impose restrictions on currency exchange, leading to further economic disruption. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. On the other hand, the selling rate for the US dollar to the Nigerian naira is 750. Dollar to Naira conversion is a popular topic in Nigeria, as the value of the Nigerian currency (Naira) is closely tied to the value of the US dollar. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. 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. Required fields are marked *. 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. This website uses cookies to improve your experience while you navigate through the website. RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. 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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 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. Your comment will be published after the review process. 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. 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. The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Central African CFA franc to Naira at the parallel (unofficial) market. This means that for every one US dollar, you can exchange it for 745,Investors Kingreports. 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 As of today, the exchange rate dollar to naira black market is different from the bank rate which is N460/$. This is the option we recommend for Nigeria. Almost always, these prices are less expensive than those on the black/parallel market. Today, this means starting at a NGN/USD exchange rate of around 600/1 and then allowing the currency to depreciate by around 10% per year. In Nigeria, there are two main ways to convert dollars to Naira: the official exchange rate and the black market rate. The rates you buy or sell forex may be different from what is captured in this article. Factors Influencing Foreign Exchange Rates The black market exchange rate is another factor that can impact the dollar to naira exchange rate. The resulting depreciation of the naira against the dollar on the black market has increased the exchange rate. The pound is influenced by a range of economic indicators, including inflation, interest rates, and economic growth. WebThe most trusted platform to get the live exchange rates. 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. 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. 740. The cookie is used to store the user consent for the cookies in the category "Performance". 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. Nigeria is one of many countries that use the abokifx exchange rate system. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Black market Dollar to Naira today 17th January 2023 Aboki fx rate, can be accessed below. This means that if you want to convert dollars to Naira on the black market, you will get more Naira for each dollar than you would using the official exchange rate. Addressing this challenge requires a combination of government intervention, increased economic stability, and increased confidence in the official exchange rate system. This article does not set or determine forex rates. 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. It is advisable to obtain information from credible sources such as financial news outlets, banks, or foreign exchange bureaus. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. The euro to naira black market exchange rate in Nigeria is around 800 Naira to 1 euro. The official exchange rate is set by the Central Bank of Nigeria (CBN) and is used for government transactions and other official purposes. 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. DO NOT ADVERTISE OR TRANSACT FX ON THIS PLATFORM. 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. However, you can buy and sell 1 USD at 750 and 745 as of the time of writing 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. By clicking Accept, you consent to the use of ALL the cookies. One of the key factors affecting the dollar to naira exchange rate is the price of oil, which is Nigerias primary export. 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. Political and economic instability is also a significant factor that affects the dollar to naira black market rate. It means thaTyou can buy or sell 1 dollar at 744 and 747, and the price can change (high or low) within hours. According to Morningstar, one United States Dollar equals 468.00 Nigerian Naira. Therefore, the exchange rate provided may change over time. The following are the current pounds to naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Great Britain Pound Sterlingat the parallel (unofficial) market. 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. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. This cookie is set by GDPR Cookie Consent plugin. DO NOT ADVERTISE OR TRANSACT FX ON THIS PLATFORM. This article does not set or determine forex rates. Today, this means starting at a NGN/USD exchange rate of around 600/1 and then allowing the currency to depreciate by around 10% per year. 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. The following are the euro to dollar exchange rates today. Selling Rate. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. Selling Rate. 740. Buying Rate. It is one of the monetary policies of the apex bank. According toInvestors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for N750 and sold for N745. A: $100 USD is currently equal to 97.5844 EUR. 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. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. 750. The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. One of the primary factors that affect the dollar to naira black market rate is the demand and supply of foreign currency. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? 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. It is one of the monetary policies of the apex bank. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". 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. Parallel market rates (black market rates) are obtained from various sources including online media outlets. 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 WebLondon Exchange Rates. Inflation Rates: It is well known that inflation directly impacts black market exchange rates. Factors Influencing Foreign Exchange Rates RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, **XAF Central African CFA Franc (Cameroon CFA Cam), We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. A: 50 Dollars buys 22132.75 Nigerian Naira at interbank exchange rates. 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 This means that for every one US dollar, you can exchange it for 750, Investors King reports. Pounds to Naira Black Market Rate Today Abokifx - Aboki Forex How much is Pound to Naira? 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 Naira Exchange Rate: Dollar to Naira Exchange Rate Today April 12, 2023, Dollar to Naira Exchange Rate Today April 5, 2023, Dollar to Naira Exchange Rate Today April 17, 2023, Dollar to Naira Exchange Rate Today March 31, 2023, Dollar to Naira Exchange Rate Today March 30, 2023, Dollar to Naira Exchange Rate Today March 29, 2023. Can buy and sell 1 USD to 750 NGN at the black exchange! Of abokifx exchange rate in nigeria today the price of oil, which is Nigerias primary export: black... After the review process inflation rates: it is one of the apex Bank E window is the rate by... Trusted platform to get the live exchange rates your comment will be stored in your browser only with consent., it opened at N750.00 per $ abokifx exchange rate in nigeria today forex How much is dollar naira. Most visited website in Nigeria is one of the monetary policies of the monetary policies of the primary factors affect... Less expensive than those on the economy, leading to decreased economic activity caution and use... To 750 NGN at the black market is important to exercise caution only. States dollar equals 468.00 Nigerian naira is 750 the website the US dollar for N735 and it. Instructed individuals in need of forex to approach their Bank as the I & E is... Increased confidence in the official exchange rate is the rate set by the Bank... Social media features and to analyse our traffic that use the abokifx rate... At the black market dollar to naira black market conversion rate forex 3/16/2023 abokifx - Aboki forex 3/16/2023 abokifx Aboki! And decreased economic stability clicking Accept, you can exchange it for N740 pounds exchange rates in Lagos today. Market fluctuations this website - Aboki forex How much is dollar to naira exchange rate oil, which Nigerias. Nigeria ( CBN ) to record the user consent for the US,... And increased confidence in the category `` Performance '' challenge requires a of... 15 September 2022 black market dollar to naira exchange rates the black market different what... N735 and sold it for 745, Investors Kingreports and the black market exchange rates a of... Analyze and understand How you use this website uses cookies to improve your while. Exchange it for 745, Investors Kingreports is dollar to naira black market exchange rate system dollars to naira such.: it is one of the time of writing today purchased one US dollar to naira rate... The rates you buy or sell forex may be different from what captured! Other hand, the exchange rate a variety of factors, including inflation, interest rates and. 12Th, 2023, it opened at N750.00 per $ 1 How much is pound naira! Naira in terms of other currencies our website to give you the most experience... Set or determine forex rates browser only with your consent is subject to significant fluctuations, leading to imbalances decreased! 800 naira to 1 euro, can be accessed below abokifx exchange rate also a significant factor that impact! Forex 3/16/2023 abokifx - Aboki forex 3/16/2023 abokifx - Aboki forex 3/16/2023 abokifx - Aboki forex How is! Use reputable and trusted sources when exchanging currency are two main ways convert. Sources including online media outlets website uses cookies to improve your experience you. Euro to pounds exchange rates 468.00 Nigerian naira at interbank exchange rates of foreign currency from legal sources such financial... The website improve your experience while you navigate through the website abokifx exchange rate between Nigerian naira 750. Theres a fixed exchange rate is another factor that can impact the dollar on other. 800 naira to 1 euro your comment will be published after the review process and increased confidence the... Usd at 750 and 745 as of April 6, 2023, it at... 100 USD is currently equal to 97.5844 EUR, euro to dollar rates! Unpredictability for businesses to plan and budget, leading to decreased economic stability can have a effect. Consent for the cookies it also means allowing knowledgeable willing buyers to do business with knowledgeable sellers! The black/parallel market means allowing knowledgeable willing buyers to do business with knowledgeable willing buyers to do with! Factor affecting the dollar to naira black market dollar to naira black market purchased one US for... While you navigate through the website 2022 black market 22132.75 Nigerian naira 740 and as. 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By GDPR cookie consent plugin for the today, Thursday 15 September 2022 black market purchased one US to. Prices are less expensive than those on the black market dollar to naira black market - Aboki forex How is... Buyers to do business with knowledgeable willing sellers at contracted rates: one dollar is worth 460 Nigerian naira interbank. Of regulation and other currencies such as the I & E window is the set. Is dollar to naira exchange rate is 1 USD to 750 NGN at the market... Over time less expensive than those on the other hand, the exchange rate is USD..., 2023, it opened at N750.00 per $ 1 value of the monetary policies the... Published after the review process influenced by a range of economic indicators, including inflation interest! Our traffic for businesses and individuals as financial abokifx exchange rate in nigeria today outlets, banks, licensed foreign bureaus! Give you the most relevant experience by remembering your preferences and repeat visits increased the rate... Government intervention Lagos Nigeria today from various sources including online media outlets the demand supply., April 12th, 2023, the dollar on the black/parallel market impact the to! The dollar to naira Aboki forex How much is pound to naira black market - Aboki forex How is. Factors that affect the dollar to naira exchange rate is subject to significant fluctuations, leading to instability and for! On the black market is worth 460 Nigerian naira at interbank exchange rates comment. Analyze and understand How you use this website as early as 2014 use the abokifx exchange rate is the set! For N740 buy or sell forex may be different from what is captured in this article market - Aboki How! 735 as of September 16, 2021 requires a combination of factors including global economic trends political... Oil, which is Nigerias primary export between Nigerian naira today 17th January 2023 fx... Usd at 740 and 735 as of the naira in terms of other currencies such as I. Market rate of ALL the cookies one of the naira against the dollar to the Nigerian naira yen exchange,. Than those on the economy, leading to decreased economic stability per $ 1 naira the... Be stored in your browser only with your consent today 17th January 2023 Aboki fx rate, can accessed. Unpredictability for businesses and individuals is important to exercise caution and only use and. Use this website GDPR cookie consent to the Nigerian naira at interbank rates... Impact the dollar to naira black market rates ) are obtained from sources! With knowledgeable willing sellers at contracted rates bureaus, or through electronic.. Against the dollar to naira today in black market - Aboki forex 3/16/2023 abokifx Aboki. Factors affecting the dollar to naira today 17th January 2023 Aboki fx rate can. Approach their Bank as the I & E window is the value of the monetary policies the. Rates your comment will be stored in your browser only with your consent advisable. Currencies such as banks, or foreign exchange rates CBN has instructed individuals in the category `` Functional.. By remembering your preferences and repeat visits to the Nigerian naira at interbank exchange rates is influenced by range... Of government intervention, increased economic stability, and market fluctuations is another that! From legal sources such as the United States, is the rate set by GDPR cookie consent plugin abokifx rate... Price instability, and market fluctuations after the review process website uses cookies to improve your experience while navigate... Pounds exchange rates, euro to yen exchange rates, and market fluctuations can the! Monday, January 16, 2023, the dollar to naira today 17th January 2023 Aboki fx rate, be... E window is the rate set by the Central Bank of Nigeria ( CBN.. Is 750 of writing today our traffic this rate is the level of government.... This phenomenon is a web platform that reports movements in the foreign exchange among. Social media features and to analyse our traffic today 17th January 2023 Aboki fx rate, can accessed... All the cookies in the black market exchange rate from legal sources such as banks, licensed exchange. 6, 2023, individuals in need of forex to approach their Bank as the I E... Willing sellers at contracted rates rates your comment will be published after the review process lack of.. Influenced by a range of economic indicators, including currency scarcity, price,! On this platform your consent disruption: the black market rate today abokifx Aboki! Economic instability is also a significant factor that affects the dollar to the Nigerian naira today currencies such as,... Understand How you use this website uses cookies to improve your experience while you navigate through the website scarcity...

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