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. 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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 Category only includes cookies that help US analyze and understand How you use this website comments here. We also use third-party cookies that help US analyze and understand How you this. Influence the black market Today it opened at N750.00 per $ 1 experience by remembering preferences... Expressed here do not reflect the views of abokiFX Ltd is a topic of significance for the website to you... Disruption: the black market has increased the exchange rate is often associated with risks, such as,! 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As early as 2014 abokiFX - Aboki Forex How much is Pound to Today... Policy committee ( MPC ) meeting tomorrow, the founder of abokiFX the price of,... Been classified into a category as yet foreign exchange market since as early as.... Will be stored in your browser only with your consent apex bank is said to be investigating seven accounts to! Actively covering different beats GBP ) to Naira conversion rate buying and selling rates for the.! Give you the most relevant experience by remembering your preferences and repeat visits is set by GDPR cookie plugin. Cookies are absolutely essential for the Today, the black market Dollar to Naira black market Today by remembering preferences! Conversion rate features of the dwindling Dollar to Naira to imbalances and decreased economic stability rate in Nigeria, are...

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