Dollar to Naira Black Market today 14th January 2023 | Aboki Fx Today, USD to Naira
Dollar to Naira Black Market Exchange rate today 14th 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 13th January 2023
The exchange rate between the naira and the US dollar closed at an average of N735/$1 on Friday 13th January 2023 at the black market, representing a 0.00% appreciation when compared to previous day trading of N735/$
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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 14th 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 gain N252.5bn as Nigeria’s capital market closes high
The Nigerian capital market closed on a positive note on Friday, with the equity market capitalization increasing by 0.89 percent by day’s end.
After eight hours of trading today, market capitalization increased by N252.52 billion, from N28.34 trillion to N28.60 trillion.
In a similar fashion, the All Share Index increased by 463.63 basis points to close at 52,512.48, up from Thursday’s 52,048.85 level.
On Friday, investors exchanged N2.55 billion for 217.16 million shares in 4,591 transactions.
However, this was less than the N7.72 billion shareholders paid for 211.74 million shares in 3,462 transactions the day before.
Total topped the list of gainers with a share price increase of N19.30kobo, from N193 to N212.30kobo per share.
Berger Paints increased its share price by N0.60kob, from N6 to N6.6kob.
Linkage Assurance’s share price increased by 10% to close trading at N0.44kobo per share, up from N0.40kobo per share.
The price per share of Thomas Wyatt’s stock increased by N0.13kobo, from N1.35kobo to N1.48kobo.
The share price of Prestige increased by 9.52 percent to close at N0.46kobo, higher than its opening price of N0.42kobo.
Lasaco topped the list of losers after its share price fell by N0.11kobo, from N1.10kobo to N0.99kobo.
The price per share of CWG fell by N0.10kobo to end trading at N0.95kobo from N1.05kobo.
Shares of Chellarams ended trading at N1.34kobo, down from N1.48kobo.
Royal Exchange’s share price decreased by 7.14 percent, from N0.98kobo to N0.91kobo.
During trading, a share of Fidson fell from N9.79kobo to N9.34kobo, a loss of N0.45kobo per share.
Zenith Bank led the day’s trading with 20,310,000 shares worth N517,73,000,000.
18.20 million shares valued at N449.90 million were traded by GTCO.
UBA sold 17,14,000,000 shares worth N144,38,000,000.
Transcorp traded 11.70 million shares worth N14.05 million, while Sterling Bank traded 15.80 million shares worth N24.34 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 Saturday 14th 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.