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Black Market Dollar To Naira Exchange Rate Today 8th February 2023

Black Market Exchange Rate of Naira to dollar

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Dollar to Naira Black Market today 8th February 2023 Exchange Rate

Here is the current rate today. See today’s &   Dollar to Naira Exchange rate today at aboki fx and the black market. You can change your to naira at these rate or convert at the latest black market rate or .

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So many Nigerians prefer to exchange their foreign currencies especially the US Dollars to naira using the black market because the is very high compared to what the bank offers. If you want to know the current black market rate, here is the page to find that.

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Aboki fx Black Market To Naira Exchange Rate Today  has also been added here so you can easily verify each of the rate for the currencies you want to exchange in the parallel markets. Aboki fx is the most trusted source for Black Market Today. You can find their exchange rate for today here.

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Also Latest Npower News Today Wednesday 8th February 2023

Dollar to Naira Black Market Exchange rate Yesterday 7th February 2023

The US closed on Tuesday 7th, February 2023 at an average of N749/$1.

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This is according to information obtained by Ejes Gist Dollar from black market traders and Aboki dollar to Naira exchange Operators.

 

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8th February 2023

black market () USD to naira black market today 
Buying Rate 755
Selling Rate 760

 

What is the current Black Market Dollar To Naira Exchange Rate Today or the parallel market? Well, it may interest you to know that Exchange rate for today  sometimes varies hugely from the rate in Central Bank of Nigeria website (www.cbn.gov.ng).

Dollar to Naira Black Market Exchange rate

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The price listed above is the current USD to Naira exchange rate. We will always update the latest rate on a daily basis to keep you informed. Dollar to Naira Exchange Rate is the current exchange equivalent of the United States Dollar. Rate varies for various banks and parallel markets.

Official Exchange Rate Today

Parallel exchange rate (black market) exchange rate is always different from CBN rate. Currently, Naira is trading at 452 Naira Per Dollar. The Nigerian Economy is drastically affected by the Dollar to Naira Black Market Exchange rate.

 

Dollar to Naira (USD to NGN) Official
Buying Rate 449
Selling Rate 452

 

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Banks in Nigeria sell dollars between 545 to 570 to a dollar.

Black Market Dollar To Naira Exchange Rate Today 
Graphic of Dollars and Nairas

As Naira is falling, inflation takes over the economy which usually affects the citizens. Central Bank Governor, Godwin Emefiele has said that the Nigerian Economy needs a massive turnaround and has urged Nigerians to work towards it.

 

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Dollar to Naira Black Market today

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The black market commonly referred to as Aboki market rate for dollars is usually higher than the exchange rate at the banks which is usually regulated by the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate you can buy or sell dollars for naira listed on CBN website cbn.gov.ng. while dollar to naira black market rate are from aboki fx exchangers.

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However, USD to Naira bank rate is the rate you use when purchasing something from foreign websites using your Naira Mastercard or Debit card from Nigerian Banks. These rate normally would always be lower than what is obtainable in the black market.

 

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Interesting things you didn’t know about the U.S. dollar

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You know that our money is the United States dollar. Did you know…

-There are three parts to a dollar: the penny, the nickel, and the dime. There are 100 cents in a dollar.

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-The first dollar was made in 1792. It was used in the colonies instead of the Spanish dollar, which was used before.

-The dollar is the currency that is traded the most around the world.

-The dollar is also the currency that is most often faked around the world.

The : A Brief History

Did you know that the history of the US dollar is pretty interesting? It was made when the Coinage Act was passed by the US government in 1792. This law made the US dollar the official currency of the country.

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Since then, there have been a few changes to the dollar. For example, in 1854, the US stopped using Spanish coins and started using American ones. And in 1933, President Franklin D. Roosevelt took the US off the gold standard. This meant that the dollar could no longer be traded for gold.

The US dollar is one of the most popular currencies in the world right now. Over 60% of all transactions between countries take place in US dollars. So the next time you spend your vacation dollars in a foreign country, you can be sure that you are using a currency that has been around for a while!

Who Maintains the Production of US Currency?

The United States Mint is responsible for producing US dollar paper currency. It is a government agency that falls under the Treasury Department. They are responsible for producing both paper currency and coins.

Interestingly, each bill and coin’s design is determined by the president. The Mint then creates a prototype and submits it for approval to the Treasury. It is then put into production. Therefore, each bill and coin in circulation has been authorised by the president, which is why they often bear his or her image.

What are the Facts Influencing the Dollar to Naira Black Market Exchange rate for today ?

Here are some of the reasons for the dollar-to-naira exchange rate’s decline.

Inflation Rates: It is common knowledge that inflation has a direct impact on black market exchange rates. The naira will benefit if the Nigerian economy can be stabilised and inflation is brought under control; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive on a daily basis.

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Interest Rates: Interest rates are another tool to keep an eye on. If the interest rate at which banks lend money rises, the economy will contract, and the value of the naira will fall as a result.

Government debt has the potential to affect investor confidence and, as a result, the flow of funds into the economy. If inflows are high, the naira exchange rate will rise in its favour.

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Speculators: Speculators have a significant impact on the Dollar to Naira Black Market Exchange rate for today . They hoard money in anticipation of a profit, causing the naira to fall even further.

Trade Conditions: Although Nigeria is currently running a trade deficit, favourable trade terms will lead to an increase in the value of the Nigerian currency to the dollar. China, India, and the majority of Asian countries supply everything.

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What’s your Opinion on Dollar to Naira Black Market today Wednesday 8th  February 2023, let us know what you think and how the Government can work with the CBN to provide reasonable USD to naira rates in the future.

Naira scarcity: Zenith Bank shuts down branches, staff disguise to work

Following attacks from customers who were unable to withdraw funds from the bank’s Automated Teller Machines (ATMs) and other platforms, Zenith Bank Plc has closed some of its branches in the Federal Capital Territory (FCT) and in other states.

Customers have criticised the bank in light of the Central Bank of Nigeria’s (CBN) inability to distribute the redesigned Naira notes.

On Tuesday, a Zenith Bank branch on the Check-Point in Nyanya Mararaba road was under lock and key when customers arrived.

Many branches of the bank across the country lack the new Naira notes, causing their dissatisfied customers to congregate and discuss the situation.

A recent video captured inside one of the country’s Zenith Bank branches showed employees climbing the fence in an attempt to escape the wrath of customers.

Black Market Dollar To Naira Exchange Rate Today

 

Additionally, one of the remaining branches in Enugu warned employees not to wear the bank’s uniform to avoid being identified by the general public.

 

In recent days, Zenith Bank customers have complained on social media about their inability to conduct transactions on the bank’s digital platform.

This has made Zenith Bank one of the most-discussed topics on Twitter, with numerous account holders criticising the bank on the platform.

Shehu Sani, a former lawmaker, stated, “Every year, Zenith Bank is the Bank of the Year; this year, they are the year’s fastest athletes and high jumpers.”

Another user, Annie Israel, added: “I transferred funds from First Bank to Zenith Bank on Saturday, and it wasn’t until this evening that I received an alert that my balance had been reduced. Your branch office will hear from me tomorrow morning, and they will inform me of the whereabouts of my missing funds.

Thanks for using our platform to learn about the latest Dollar to Naira Black Market Exchange rate for today Wednesday.

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