Aboki Forex: Naira to Dollar Black Market Today, December 3, 2023

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Aboki to naira today exchange rates, December 3, 2023.

What is the rates today? 

As we navigate the ever-changing economic landscape, the significance of the prevailing between the Dollar and Naira cannot be emphasized enough. Starting from December 3, 2023, we embark on a thorough analysis of the present rate, offering a detailed overview gathered from diverse sources. Stay tuned for insightful updates on this vital facet of Nigeria’s economic terrain.

Black Market –

The Rates are tabulated below:

According to reports obtained from operators, the current black market rates are as follows:

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  • Buying: ₦1162 for $1
  • Selling: ₦1165 for $1

Street vendors are currently acquiring US dollars at ₦1162 and reselling them at ₦1165, highlighting a significant difference when compared to the official exchange rate for Dollars to Nairas.

Pound to Naira rate

    • BUY: dollar to pound 1455
    • SELL: pound to euro 1470

Euro to Naira rate

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    • BUY: dollar to euro 1255
    • SELL: dollar to euro 1275

Crude Oil Price Per Barrel in Nigeria Today – December 3, 2023

Canadian rate

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    • BUY: dollar to canadian dollar 900
    • SELL: dollar to rand 950

South African Rand to Naira rate

    • BUY: zar to dollar 50
    • SELL: yuan to dollar 65

UAE Dirham to Naira rate

    • BUY: dollar to yuan 290
    • SELL: dirham to dollar 310

Chinese Yuan to Naira rate

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    • BUY: euro to dirham 125
    • SELL: pound to yuan 135

Ghanaian Cedi to Naira rate

    • BUY: dollar to cedi 85
    • SELL: pound to yuan 100

West African CFA franc to Naira rate

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    • BUY: dollar to xof1735
    • SELL: dollar to xaf1750

Central African CFA franc to Naira rate

    • BUY: dollar to xaf1650
    • SELL: euro to xaf1700

Australian Dollar () to Naira rate

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    • BUY: aussie to naira600
    • SELL: australian dollar to naira650

Exchange Rates Yesterday:

For reference, the black market closed at ₦1167/$1, determined by the average dollar to naira rates traded at various platforms.

 

Official Bank Rates ():

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The Central Bank of Nigeria (CBN) sets the official exchange rate:

  • Buying: ₦831.47 for $1
  • Selling: ₦833.48 for $1

Under these official rates, the CBN acquires one US dollar for ₦831.47 and sells it for ₦833.48 through authorized dealers.

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Dollar to Naira Bank Rates Today:

Data from various banks indicates the average :

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GTBank:

    • Buying: ₦980 for $1
    • Selling: ₦990 for $1

Access Bank:

    • Buying: ₦993/
    • Selling: ₦990/USD

Zenith Bank:

    • Buying: ₦993/USD
    • Selling: ₦997/USD

Guaranty Trust Bank (GTBank):

    • Buying: ₦997.83/USD
    • Selling: ₦990/USD

First Bank of Nigeria fx rate:

    • Buying: ₦980/USD
    • Selling: ₦975/USD

United Bank for Africa (UBA) Exchange rate:

    • Buying: ₦991.83/USD
    • Selling: ₦997.83/USD

Inquiries Regarding Aboki Today:

Does Aboki Forex Engage in Currency Trading or Exchange?

Answer: No, Aboki Forex is not involved in the trading or exchange of currencies. It serves as an informational platform, providing details on currency exchange rates across different markets.

How Can I Exchange Currency?

Answer: To exchange currency, contact your local currency exchange market or a bank. They will provide current exchange rates and assist in the exchange process.

 

Is the Accuracy of Black Market Exchange Rates Consistent Across All Markets?

Answer: No, Black Market Rates provided by Aboki Forex may not exhibit uniform accuracy across all markets. These rates serve as representative averages in local markets and can fluctuate between different locations due to the lack of regulation.

What Sets Apart CBN, I&E, and exchange rates.

Answer: CBN rates are established by the Nigerian central bank for official purposes. Investors’ and Exporters’ (I&E) rates are regulated for investment and foreign exchange transactions. Black Market Rates represent unofficial rates in the unregulated market, differing substantially from CBN and I&E rates.

Dollar to naira today black market exchange rates

Influential Factors in Dollar to naira today parallel market exchange rates depreciation:

The fluctuation of the naira against the USD is shaped by a multitude of factors. These encompass volatile oil prices, foreign exchange reserves, exchange rate policies, inflation, economic uncertainty, global economic conditions, market speculation, balance of trade, government policies, and overall economic performance.

Understanding the intricacies of these components provides insight into the complex dynamics that shape the exchange rate landscape in Nigeria.

The current exchange rates between the Dollar and Naira in the black market play a pivotal role as an economic indicator, showcasing fluctuations across various markets. Stay well-informed by regularly checking this website for daily updates on dollar to naira rates and the in Nigeria.

 

Since the appointment of Dr. Olayemi Michael Cardoso as the Governor of the Central Bank of Nigeria by President Bola Ahmed Tinubu, the nation’s currency has encountered ongoing instability, characterized by consistent depreciation.

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