The value of currencies is influenced by various economic and political factors, which determine the exchange rates on any given day. Additionally, there exists an unofficial exchange rate, known as the dollar to naira black market exchange rate, which is frequently higher than the official rate.
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Knowing the current dollar-to-naira exchange rate is crucial for obtaining optimal exchange rates during dollar exchanges.
Dollar to naira exchange rate today black market | Aboki Exchange Rate Today dollar to naira
Experts in the Bureau de Change (BDC) industry announced on Wednesday, May 31, 2023 that the current Aboki Exchange Rate Today for the US dollar to naira on the Parallel Market closed at ₦755 per dollar.
1 Dollar To Naira Black Market Exchange Rate Today June 1 , 2023.
|how much is dollar to naira black market (USD to NGN rate)||USD to naira black market today|
|Buying Rate||₦ 750|
|Selling Rate||₦ 755/758|
Therefore, 1000 Naira to dollar conversion rate will give you N755,000.
How much is $100 in black market today?.
Now, How much is $100 US in Nigeria?
- $100 USD in black market today will give you ₦75,500
Please note that the Central Bank of Nigeria (CBN), as the apex bank, does not acknowledge the parallel market (black market) and has directed Nigerians seeking to engage in Forex to approach their respective banks. Regrettably, due to the corrupt nature of Nigerian banks, it may take up to 60 days to obtain dollars through official channels. As a result, the black market remains the most dependable means of accessing dollars.
Many Nigerians are greatly concerned about the exchange rate of the Nigerian naira against the dollar.
How much is Euro to naira today in black market.
|Euro to naira today (€)||Euro to naira today black market exchange rate.|
How much is Pound to naira today in black market.
|Pound to naira today (£)||pound to naira today black market exchange rate.|
The Canadian Dollar to Naira black market exchange rate today is N688/1c$
Rand to Naira
Today’s Rand to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Rand is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
|Rand to Naira (ZAR to NGN)||Black Market Exchange Rate Today|
Dirham to Naira
Today’s Dirham to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Dirham is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
|Dirham to Naira (AED to NGN)||Black Market Exchange Rate Today|
Yuan to Naira
Today’s Yuan to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Chinese Yuan is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
|Yuan to Naira (CNY to NGN)||Black Market Exchange Rate Today|
Ghanaian Cedi to Naira
Today’s Ghanaian Cedis to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Ghanaian Cedis is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
|Cedi to Naira (GHS to NGN)||Black Market Exchange Rate Today|
CAD to Naira Black Market
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).
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 1 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 average of 461 naira per dollar. The Nigerian Economy is drastically affected by the Dollar to Naira Black Market Exchange rate.
The following is Interbank dollar to naira rate
|1 Dollar to Naira Today (USD to NGN rate)||Official dollar to naira rate|
- 1 Euro to naira today official rate is 486 per €1
- 1 Pounds to naira today official rate is N546 per 1£
Banks in Nigeria sell dollars between 545 to 569 to a dollar.
NGX: Shareholders lose N21.1bn as investment value drops by 0.06%
On Thursday, the Nigerian capital market experienced a 0.06 percent decrease in equity capitalization by the end of the trading day.
After five hours of trading today, the value of investments at the capital market decreased by N21.17 billion from N30.34 trillion to N30.32 trillion.
The All-Share Index decreased by 38.9 basis points and closed at 55,699.45. This is a decrease from the 55,738.35 achieved by the bourse on Tuesday.
On Thursday, there were 6,520 deals in which investors traded 357.94 million shares valued at N7.66 billion.
The total number of shares traded on the current day was lower than the previous day’s trading volume of 1.07 billion shares worth N15.79 billion, which were traded by shareholders in 9,916 deals.
The share price of McNichols increased by 10 percent, moving from N0.70 kobo to N0.77 kobo per share, making it the top gainer on the list.
The share value of Conoil increased by N5.25 kobo during trading, closing at N57.95 kobo per share compared to the previous value of N52.70 kobo per share.
The share price of MRS increased by N4.05, rising from N40.80 kobo to N44.85 kobo per share.
Neimeth’s closing share price increased by N0.15 kobo to reach N1.67 kobo, which is higher than its opening price of N1.52 kobo per share.
The share price of NCR increased by N0.27 kobo, rising from N2.76 kobo to N3.03 kobo per share.
Nascon experienced a decrease in value, dropping from N16.85kobo to N15.20kobo per share, resulting in a loss of N1.65kobo per share and placing them at the top of the list of companies with the largest decrease in value.
The share price of Briscoe Group decreased by 9.76% during trading and closed at N0.37 kobo per share, down from N0.41 kobo per share.
Deap Capital’s shares experienced a 9.09% decrease in value, closing at N0.20 kobo per share compared to the previous day’s closing price of N0.22 kobo per share.
During trading, Tantalizer’s share price decreased by 8.70 percent from N0.23 kobo to N0.21 kobo per share.
The share price of Wema Bank decreased by N0.35 kobo, going from N4.35 kobo to N4 per share.
The day’s trading was led by UBA, which had a total of 62.88 million shares traded with a value of N622.99 million.
Access Corporation traded 41.51 million shares valued at N499.48 million.
Sterling Bank recently sold 27.15 million shares, which amounted to a total of N54.44 million.
In the stock market, Geregu traded a total of 22.60 million shares which were worth N6.69 billion. On the other hand, GTCO sold 22.21 million shares which were valued at N633.78 million.
Dollar To Naira Black Market Exchange Rate Today June 1 , 2023
Dollar to Naira Exchange Crisis.
The dollar to naira exchange crisis has been a major concern for Nigerians for many years. The Nigerian currency has been losing value against the dollar, causing inflation and economic instability in the country. The shortage of foreign exchange and the devaluation of the naira have made it difficult for individuals and businesses to access foreign currency. This has led to a rise in the cost of goods and services, making life difficult for the average Nigerian. Despite efforts by the government to stabilize the exchange rate, the crisis has persisted, and many Nigerians are still struggling to cope with the economic realities caused by the devaluation of the naira.
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Facts influencing exchange rate.
The following are some of the factors that can influence exchange rate in Nigeria.
Political Stability: Any insecurity or uncertainty in a country’s political climate can have an impact on its currency. If there is political unrest or uncertainty in Nigeria, for example, the Naira may weaken.
Economic Performance: A country’s currency can be influenced by the strength of its economy, which includes factors such as inflation, interest rates, and economic growth. If the Nigerian economy performs well, the Naira will likely strengthen.
Foreign Investment: Foreign investment in a country can have an effect on its currency. If foreign investors have faith in the Nigerian economy, they may invest more, causing the Naira to strengthen.
International Trade: Nigeria’s international trade activities, such as the export and import of goods and services, can also have an impact on the country’s currency. A high volume of exports may increase demand for the Naira, thereby strengthening its value.
What’s your Opinion on Dollar To Naira Black Market Exchange Rate Today June 1 , 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.
Thank you for using our platform to stay up-to-date on the latest news in Nigeria, specifically regarding the CBN’s dollar to naira exchange rate, Aboki Exchange Rate Today dollar to naira and the Black Market exchange rate for June 1 , 2023.