Dollar to Black Market today 11th January 2023 | Aboki Fx Today, USD to Naira
Dollar to Naira Black Market Exchange rate today 11th January 2023 – Here is the current USD to naira rate today. See today’s CBN & Dollar to Naira Exchange rate at aboki fx and the black market. You can change your USD to naira at these rate or convert dollar to naira at the latest black market rate or parallel market.
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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 exchange rate 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 dollar to naira exchange rate 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 dollar to naira rate today. You can find their exchange rate for today here.
Dollar to Naira Black Market Exchange rate Yesterday 10th January 2023
The exchange rate between the naira and the US dollar closed at an average of N746/$1 on Tuesday 10th January 2023 at the black market, representing a 0.76% depreciation when compared to previous day trading of N745/$
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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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Dollar to Naira Black Market today 11th January 2023
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
What is the current dollar to naira exchange rate in parallel market? Well, it may interest you to know that Dollar to Naira rate in the black market sometimes varies hugely from the rate in Central Bank of Nigeria website (www.cbn.gov.ng).
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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.
How Much is Dollar to Naira Official Exchange Rate Today
Parallel exchange rate (black market) exchange rate is always different from CBN rate. Currently, Naira is trading at 573 Naira Per Dollar. The Nigerian Economy is drastically affected by the Dollar to Naira exchange rate.
|Dollar to Naira (USD to NGN)||Official Dollar to Naira Exchange Rate Today|
Dollar to Naira Bank rate today.
Banks in Nigeria sell dollars between 540 to 545 to a dollar.
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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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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 dollar to naira website cbn.gov.ng.
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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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Investors drop N134.2bn as FBN Holdings, BUA Cement top trading
Tuesday’s close on the Nigerian capital market saw a 0.47 percent decline in the value of investments.
After eight hours of trading today, the market capitalization decreased by N134.25 billion, from N28.15 trillion to N28.02 trillion.
The All Share Index depreciated by 246.48 basis points to finish at 51,446.6, down from Monday’s closing price of 51,693.08.
On Tuesday, investors traded 345.49 million shares worth $8.29 billion in 4,184 transactions.
This surpasses the previous day’s trading volume of 229.21 million shares worth N2.90 billion in 3,900 transactions.
Thomas Wyatt topped the list of gainers with a N0.10kobo share price increase, from N1.06 to N1.16kobo per share.
Mutual Benefit’s share price increased by 7.14 percent, from N0.28k to N0.30k.
Academy’s share price increased by 5.65 percent to close at N1.31kobo per share, up from N1.24kobo per share.
The price per share of Lasaco’s stock increased by 4.44 percent, from N0.90kobo to N0.94kobo.
Chams closed at N0.24kobo per share, 4.35 percent higher than its opening price of N0.23kobo per share.
NEM topped the list of losers after losing N0.45kobo per share, decreasing from N4.50kobo to N4.05 per share.
The share price of Chellaram decreased by N0.20kobo to settle at N1.82kobo from N2.02 per share.
Champion Breweries fell from N4.80kobo to N4.34kobo per share, a loss of N0.46kob.
Shares of Cornerstone decreased by 6.67 percent, from N0.60k to N0.56k.
During trading, the share price of Honeywell Flour fell from N2.42kobo to N2.30kobo, a loss of N0.12kobo per share.
FBN Holdings dominated the trading session with 151.38 million shares worth N1.69 billion.
BUA Cement traded 30.45 million shares worth $2.91 billion on the open market.
25.45 million shares worth N619.71 million were sold by Zenith Bank.
Transcorp traded 13 million shares worth N15.45 million, while Fidelity Bank traded 18.55 million shares worth N87.55 million.
Facts Influencing Foreign Exchange Rate.
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.
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.
Naira to dollar Gains Massively at Black Market Exchange Window
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.
Speculators: Speculators have a significant impact on the naira-to-dollar exchange rate. 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 11th January 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.