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Dollar To Naira Black Market Exchange Rate Today 16th March 2023

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The Dollar To Naira Black Market Exchange Rate Today for 16th March 2023 has been highlighted here on Ejes Gist News Nigeria

 

Here is the current USD to naira 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 dollar to naira 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   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 Exchange Rate Today. You can find their exchange rate for today here.

 

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Dollar to Naira Yesterday 15th February 2023

The Black Market Exchange rate closed on Wednesday 15th, February 2023 at an average of N745/$1.

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

 

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1 16th March 2023.

black market () USD to naira black market today 
Buying Rate 740
Selling Rate 748

 

Therefore, 1000 naira to dollar will give you N748,000.

 

exchange rate.

Selling rate today is N784 per 1 Euro (€) while buying rate is N787 Per 1 Euro (€)

 

Pounds To Naira Black Market exchange rate today.

Selling rate today is N788 per 1 pound (£) while buying rate is N793 Per 1 pound (£)

 

The Canadian rate today is N688/1c$

 

What is the current Black Market Dollar To Naira Exchange Rate Today or the parallel market? Well, it may interest you,  how much is dollar to naira Black Market 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. is the current exchange equivalent of the United States Dollar. Rate varies for various banks and parallel markets.

 

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How Much is 1 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 .

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1 (USD to NGN) Official Dollar to Naira Exchange Rate Today
Buying Rate 460.23
Selling Rate 464..42

 

  • 1 Euro to naira today official rate is 486 per €1
  • 1 Pounds to naira today official rate is N546 per 1£

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Banks in Nigeria sell dollars between 545 to 569 to a dollar.

 

Dollar To Naira Black Market 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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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 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.

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

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 US Dollar: 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.

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!

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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.

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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Nigeria’s capital market down by N126.7bn, United Capital among top losers.

 

Wednesday’s close of trading on the Nigerian capital market saw a 0.41 percent decline in market capitalization.

After five hours of trading today, the value of investments on the capital market decreased by N126.76 billion, from N30.35 trillion to N30.22 trillion.

Similarly, the All-Share Index decreased by 232.7 basis points to close at 55,490.2, down from Tuesday’s 55,722.9 ASI.

Wednesday saw 3,908 trades involving 181,18 million shares valued at N3.40 billion.

 

Black Market Dollar To Naira Exchange Rate Today

 

The previous day, shareholders traded 199.26 million shares worth N2.81 in 3,898 transactions.

Prestige topped the list of gainers with a share price increase of 7.89 percent, from N0.38kobo to N0.41kobo.

The share price of Veritas Kapital increased by 5% to close at N0.21kobo from N0.20kobo per share.

NGX Group’s share price increased by N1.30kob, from N26.70kob to N28.

Each share of Unilever closed at N14, an increase of N0.50kobo from its opening price of N13.50kobo.

 

Dollar To Naira Black Market Exchange Rate Today.

The price per share of Japaul Gold’s stock increased by 3.57 percent, from N0.28kobo to N0.29kobo.

United Capital topped the list of losers after its share price fell by N1.20kobo, from N12.90kobo to N11.70kobo.

The share price of UPL decreased by N0.15kobo to close at N1.85kobo from N2 per share.

Glaxo Smith lost N0.50ko to end trading with N6.20ko per share, down from N6.70ko.

During trading, the share price of Neimeth fell from N1.57kobo to N1.46kobo, a loss of N0.11kobo per share.

Oando lost N0.29kobo to drop from N4.30kobo to N4.01 per share.

GTCO dominated the trading session with 33.85 million shares worth N841.94 million.

Twenty-one million shares worth N26.61 million were traded by Transcorp.

18.56 million shares worth N454.67 million were sold by Zenith Bank.

UBA traded 15.14 million shares worth N121.59 million, while Flour Mill traded 18.49 million shares worth N573.14 million.

 

Black Market Dollar To Naira Exchange Rate Today.

 

 

What’s your Opinion on Dollar to Naira Black Market today Thursday 16th  March 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.

 

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

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