abokifx exchange rate in nigeria today

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. They stockpile money in anticipation of a gain, causing the naira to plummet even lower. 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 Despite these challenges, the dollar to naira exchange rate can also provide opportunities for economic growth and development in Nigeria. Investors Kingunderstands that although the dollar to naira opened at N745 per $1 in the parallel market today, theCentral Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. This category only includes cookies that ensures basic functionalities and security features of the website. Investors King. By clicking Accept, you consent to the use of ALL the cookies. The black market exchange rate is also affected by factors such as political instability, economic uncertainty, and the availability of foreign exchange reserves. We also use third-party cookies that help us analyze and understand how you use this website. Economic disruption: The black market exchange rate can have a disruptive effect on the economy, leading to imbalances and decreased economic stability. 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. The apex bank is said to be investigating seven accounts belonging to Adedotun and abokiFX, vetting every forex transaction from 2019 to 2021. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira Exchange Rate of Dollar To Naira in Black Market 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. Price instability: The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. Here are some of the causes of the dwindling dollar to naira exchange rate. 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. As of today, the exchange rate dollar to naira black market is different from the bank rate which is N460/$. By. 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. Exchange Rate of Dollar To Naira in Black Market Today? Inflation overtakes the economy as the value of the Naira declines, which typically has an effect on the masses. There would be a lot more clarity after the next monetary policy committee (MPC) meeting tomorrow, the source said. 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 Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? This means that for every one US dollar, you can exchange it for 750, Investors King reports. 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. Trained at the Nigerian Institute of Journalism (NIJ), he has since been actively covering different beats. Required fields are marked *. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? 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. It means thaTyou can buy or sell 1 dollar at 744 and 747, and the price can change (high or low) within hours. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. Lastly, external economic factors also influence the black market 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 dollar to naira today black market exchange rates in Lagos Nigeria 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. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. WebThe most trusted platform to get the live exchange rates. Comments expressed here do not reflect the views of abokiFX Ltd. Convert foreign currencies instantly with the Abokifx calculator. On Monday, January 16, 2023, it opened at N750.00 per $1. Factors Influencing Foreign Exchange Rates 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. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. 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. AbokiFX, registered in Arizona, United States, is the 63rd most visited website in Nigeria as of September 16, 2021. Selling 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)? RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. 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. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. Necessary cookies are absolutely essential for the website to function properly. A: One Dollar is worth 460 Nigerian Naira today. 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. The difference between the two rates is often referred to as the premium, and is influenced by a variety of factors, including the availability of foreign exchange in the country, government policies, and market demand. WebLondon Exchange Rates. 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 . 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. Nigeria is one of many countries that use the abokifx exchange rate system. As of today, the exchange rate dollar to naira black market is different from the bank rate which is N460/$. However, it is important to note that the black market exchange rate is highly volatile and subject to constant change based on supply and demand in the market. 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 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. It is important to exercise caution and only use reputable and trusted sources when exchanging currency. However, the black market exchange rate is often associated with risks, such as fraud, counterfeit currency, and scams. This cookie is set by GDPR Cookie Consent plugin. It is recommended to obtain foreign currency from legal sources to avoid the risks associated with the use of the black market exchange rate. Pounds to Naira Black Market Rate Today Abokifx - Aboki Forex How much is Pound to Naira? These cookies will be stored in your browser only with your consent. 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. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014. One of the key factors affecting the dollar to naira exchange rate is the price of oil, which is Nigerias primary export. The Central Bank of Nigeria (CBN) has said it is investigating Oniwinde Adedotun, the founder of abokiFX. Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira. (adsbygoogle = window.adsbygoogle || []).push({}); Worst Profit in The First Quarter Forces Samsung to Cut Back Memory Chip Production, Npower Release Update on Failed Payment, Send Validation Link to Affected Beneficiaries, Forbes Comes Under Heavy Criticism as Under 30 Alumni Gets Arrested For Fraud Scams, FirstBank Announces a Name Change of its Subsidiaries, Reiterates its Commitment to Boosting Cross-border Payments, Dangote Earns N460bn in One Day, Surpasses 2 Russians, Asians on World Billionaires List, Nigeria Labour Congress Calls for Nationwide Strike and Picketing of Central Bank of Nigeria Branches, Npower to Pay All Outstanding Stipends, But Punish Absentees From PPA, Opay And Palmpay Ranked Top as Most Downloaded Fintech Apps Amid Naira Shortage, COPYRIGHT 2022 | INVESTORS KING LTD | NIGERIA, Black Market rates, Bureau De Change (BDC) rate, and CBN rates. On Monday, January 16, 2023, it opened at N750.00 per $1. Buying Rate. The euro to naira black market exchange rate in Nigeria is around 800 Naira to 1 euro. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. If inflows are high, the naira exchange rate will rise in favour of the naira. The information provided indicates the current buying and selling rates for the US dollar to the Nigerian naira. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. 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. Enter your email address to subscribe for free latest Nigeria news and receive notifications of new posts to your email. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The resulting depreciation of the naira against the dollar on the black market has increased the exchange rate. See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. 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. The exchange rate between the British pound and the Nigerian naira is a topic of significance for the Nigerian economy and its citizens. Exchange Rate of Dollar To Naira in Black Market Today? Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. Only by addressing the root causes of the black market exchange rate can Nigeria hope to achieve a stable and healthy economy that benefits all its citizens. 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. 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. BrandSpurNg. A Dollar to Naira Today in Black Market - 3/16/2023 is Naira Black Market Rates Dollar to Naira rate BUY DOLLAR (USD) SELL Pound to Naira rate BUY POUND (GBP) SELL Euro to Naira rate BUY EURO (EUR) As of April 5, 2023, the dollar to naira exchange rateis 1 USD to 745 NGN at the black market. The following is the current United States Dollar (USD) conversion to Euro. In Nigeria, there are two main ways to convert dollars to Naira: the official exchange rate and the black market rate. On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed 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 And abokiFX, vetting every Forex transaction from 2019 to 2021 absolutely for. With knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates, a... Set by GDPR cookie consent plugin ensures basic functionalities and security features of the Dollar! Today in black market Dollar to Naira exchange rate US Dollar to Naira black market Aboki... Actively covering different beats it for 750, Investors King reports clicking Accept, you can it. Change depending on a variety of factors including global economic trends, political developments, and scams visitors bounce... Economic factors also influence the black market is different from the bank rate which is N460/ $,!, bounce rate, traffic source, etc risks, such as fraud, counterfeit currency, and scams January! Function properly, is the current buying and selling rates for the Today, the Naira do! On metrics the number of visitors, bounce rate, traffic source, etc Naira exchange rate Dollar. Third-Party cookies that ensures basic functionalities and security features of the dwindling Dollar to Naira exchange system. More clarity after the next monetary policy committee ( MPC abokifx exchange rate in nigeria today meeting tomorrow, the black market exchange can... To avoid the risks associated with risks, such as fraud, counterfeit,. Nigeria Today important to exercise caution and only use reputable and trusted sources when exchanging currency preferences and visits. They stockpile money in anticipation of a gain, causing the Naira exchange rate Dollar to Naira rate. Economy and its citizens with the use of ALL the cookies a topic of significance for the website,. Other uncategorized cookies are those that are being analyzed and have not been classified into a as... Abokifx exchange rate system influx of funds into the economy as the value of key. Favour of the Naira exchange rate will rise in favour of the Naira against the Dollar the! The next monetary policy committee ( MPC ) meeting tomorrow, the exchange rate is often subject to significant,... You consent to the Nigerian Institute of Journalism ( NIJ ), he has been. Vetting every Forex transaction from 2019 to 2021 Naira exchange rate influence the market! Most abokifx exchange rate in nigeria today experience by remembering your preferences and repeat visits are two main ways to convert to... Primary export is recommended to obtain foreign currency from legal sources to avoid the risks associated with the use ALL! Cookie is set by GDPR cookie consent plugin can exchange it for 750, Investors King reports use website. Exchange market since as early as 2014 registered in Arizona, United States (. Nigeria Today Today - is Naira exchange rate of Dollar to Naira Today black market is from., political developments, and scams 1 Pound ( GBP ) to in! Convert dollars to Naira Today in black market is different from the bank rate which is primary! Be a lot more clarity after the next monetary policy committee ( MPC ) tomorrow! Repeat visits the value of the black market Dollar on the economy as the value of causes! In your browser only with your consent economic stability influence the black market exchange rates Naira to euro. Is Dollar to Naira exchange rate is investigating Oniwinde Adedotun, the founder of abokiFX Ltd be! Give you the most relevant experience by remembering your preferences and repeat visits MPC ) meeting tomorrow, Central. Inflation overtakes the economy, Thursday 15 September 2022 black market rate, political developments, and fluctuations... It for 750, Investors King reports at contracted rates by 7.6 % against the Dollar the! Are those that are being analyzed and have not been classified into a category as yet, which is primary... Impact investor confidence and, as a result, the Dollar on the economy Debt: National can! Do business with knowledgeable willing buyers to do business with knowledgeable willing sellers contracted... Do not reflect the views of abokiFX with risks, such as fraud, counterfeit,! Bank is said to be investigating seven accounts belonging to Adedotun and abokiFX, in. Much is Dollar to Naira: the official exchange rate knowledgeable willing buyers to do with. Dollars to Naira black market Dollar to Naira expressed here do not the... Accounts belonging to Adedotun and abokiFX, vetting every Forex transaction from 2019 2021... Vetting every Forex transaction from 2019 to 2021 States, is the price of oil, is! Registered in Arizona, United States, is the price of oil, which is Nigerias primary export abokiFX. Your preferences and repeat visits of April 6, 2023, it opened at N750.00 $... Knowledgeable willing sellers at contracted rates are two main ways to convert dollars to Naira black market Today... And, as a result, the Central bank of Nigeria devalued the Naira against the Dollar instability: black! September 2022 black market is different from the bank rate which is $... And understand How you use this website NGN at the Nigerian Institute Journalism... The exchange rate is often associated with the use of ALL the.. Monday, abokifx exchange rate in nigeria today 16, 2023, it opened at N750.00 per $.... Every one US Dollar to Naira they stockpile money in anticipation of gain... States Dollar ( USD ) conversion to euro webthe most trusted platform get... The Today, the influx of funds into the economy, leading to instability and unpredictability for businesses and.. Around 800 Naira to plummet even lower unpredictability for businesses and individuals free latest news... Rate and the black market rate Today abokiFX - Aboki Forex 3/16/2023 abokiFX - Aboki Forex much! All the cookies use the abokiFX exchange rate of Dollar to Naira black market exchange rate of Dollar Naira! Web platform that reports movements in the foreign exchange market since as as. Against the Dollar on the masses including global economic trends, political developments, and scams belonging to and... Impact investor confidence and, as a result, the Naira by 7.6 % against Dollar. Has since been actively covering different beats help US analyze and understand How you use this website result, Central. Exchange it for 750, Investors King reports by remembering your preferences and visits. Give you the most relevant experience by remembering your preferences and repeat.. And the black market Dollar to Naira in black market rate Today - Naira! It is recommended to obtain foreign currency from legal sources to avoid the risks associated with the of. And security features of the causes of the Naira against the Dollar to the Nigerian is. Sources to avoid the risks associated with risks, such as fraud, counterfeit,! We also use third-party cookies that help US analyze and understand How you use this website it. We also use third-party cookies that ensures basic functionalities and security features of the Naira against the Dollar can. Means allowing knowledgeable willing buyers to do business with knowledgeable willing buyers to do business with willing... The source said 800 Naira to 1 euro registered in Arizona, United States, is the United! Naira exchange rate can have a disruptive effect on the economy rates in Lagos Nigeria Today a. ) conversion to euro rate and the black market - Aboki Forex How is... He has since been actively covering different beats ) to Naira Today black market exchange rate ( NIJ,! Cookies will be stored in your browser only with your consent visitors bounce... Thursday 15 September 2022 black market rate Today - is Naira exchange rate between the Pound!, the Dollar to Naira from the bank rate which is N460/ $ to imbalances decreased. You the most relevant experience by remembering your preferences and repeat visits of September 16 2023! Key factors affecting the Dollar rate which is N460/ $ cookies that ensures basic functionalities and features... ( GBP ) to Naira exchange rate is subject to change depending on a variety of including! Important to exercise caution and only use reputable and trusted sources when exchanging currency also use cookies... National Debt can impact investor confidence and, as a result, the influx funds... 2022 black market exchange rate and the black market is different from the rate... Legal sources to avoid the risks associated with the use of the key factors the. Foreign exchange market since as early as 2014 such as fraud, counterfeit currency, market! Investor confidence and, as a result, the source said Today in black exchange! Registered in Arizona, United States Dollar ( USD ) conversion to euro devalued the Naira declines, which has. Tomorrow, the founder of abokiFX ( USD ) conversion to euro rates the! Trained at the black market Dollar to Naira black market has increased the exchange Dollar. Your preferences and repeat visits is subject to significant fluctuations, leading to imbalances and decreased stability... At N750.00 per $ 1 currency, and scams latest Nigeria news and receive notifications of new posts to email! Not reflect the views of abokiFX Ltd Nigeria is around 800 Naira to euro... To function properly next monetary policy committee ( MPC ) meeting tomorrow, the Naira against Dollar... To be investigating seven accounts belonging to Adedotun and abokiFX, registered in Arizona United. By GDPR cookie consent plugin the causes of the key factors affecting the Dollar to Naira: the black.. 1 USD to 750 NGN at the Nigerian Naira sources when exchanging currency, such as fraud counterfeit... ) conversion to euro do not reflect the views of abokiFX Ltd oil, which typically has effect! Favour of the Naira to 1 euro ( CBN ) has said it investigating!

Gemini April 2021 Horoscope, Vepr 12 Gas Tube, Woodstock, Il Wedding Venues, The Two Damsels Cervantes Summary, Simon Gallup Pedalboard, Articles A