Dollar To Naira Black Market Exchange Rate Today May 1, 2023
If you want to know what the dollar to naira black market exchange rate is today, May 1, 2023, then you are at the right place.
The black market dollar-to-naira exchange is also known as the parallel market (Aboki fx). You can find the latest black market dollar-to-naira exchange rate below.
It is very important that you know the latest dollar-to-naira exchange rate today and swap your dollars for the best rates ever.
Therefore, how much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira yesterday, Sunday, April 30, 2023, at the Parallel Market (Black Market) closed at an average of 746, according to sources at Bureau de Change (BDC) operators.
1 Dollar To Naira Black Market Exchange Rate Today May 1, 2023.
|how much is dollar to naira black market (USD to NGN rate)||USD to naira black market today|
|Buying Rate||₦ 740|
|Selling Rate||₦ 747|
Therefore, 1000 Naira to dollar conversion rate will give you N747,000.
How much is $100 in black market today?.
Now, How much is $100 US in Nigeria?
- $100 USD in black market today will give you ₦74,700
It is very important to note that the Central Bank of Nigeria (CBN), which is the apex bank, does not recognise the parallel market (black market), as it has instructed Nigerians who want to engage in Forex to approach their respective banks. However, it will take you 60 days to get dollars from any Nigerian bank due to their corruption nature, as the black market is the only reliable option to get dollars.
The exchange rate of the Nigerian naira to the dollar has been a great concern for many Nigerians.
How much is Euro to naira today in black market.
|Euro to naira today (€)||Euro to naira today black market exchange rate.|
How much is Pound to naira today in black market.
|Pound to naira today (£)||pound to naira today black market exchange rate.|
The Canadian Dollar to Naira black market exchange rate today is N688/1c$
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£
Dollar to Naira Bank rate today.
Banks in Nigeria sell dollars between 545 to 569 to a dollar.
NGX: Market cap up by N225.97bn, Academy leads gainers.
On Wednesday, there was an increase of N225.97 billion in the equity capitalization of the Nigeria capital market.
The Nigerian capital market witnessed a surge in investment value today as it rose from N28.14 trillion to N28.36 trillion within a span of five hours.
The Nigerian Stock Exchange witnessed a surge in the All-Share Index on Wednesday, with a 415 basis point increase to close at 52,096.01. This marks a significant rise from the previous day’s closing of 51,681.01.
On Wednesday, investors engaged in trading activities that saw a total of 6.47 billion shares valued at N19.42 billion exchanged in 4,996 deals.
Dollar To Naira Black Market Exchange Rate Today May 1, 2023.
The trading activity in the stock market today exceeded that of the previous day, with shareholders exchanging 2.09 billion shares valued at N8.84 billion in 6,404 deals.
Academy emerged as the top performer on the stock market, with a notable increase of N0.13kobo in its share price, rising from N1.30kobo to N1.43kobo per share.
The value of Livestock’s shares increased by N0.10kobo during trading, resulting in a closing price of N1.10kobo per share, up from the previous N1 per share.
The total gain of N19.70kobo was recorded as shares moved from N197.80kobo to N217.50kobo per share.
Cadbury’s shares closed higher at N11.20kobo, gaining N1 from its opening price of N10.20kobo per share.
Honeywell Flour’s stock experienced a 9.8% increase in value, closing at N2.80 kobo per share, up from Tuesday’s closing price of N2.55 kobo.
Wapic emerged as the top loser in the stock market, experiencing a decline of N0.37kobo from N5.63kobo to N5.26kobo per share.
Fidson’s shares experienced a decline of N0.50kobo, closing at N8.50kobo from its previous value of N9 per share.
Linkage Assurance recorded a 4.35% loss in its share price, closing at N0.44kobo from its previous value of N0.46kobo per share at the end of trading.
Mansard’s share price experienced a decline of 3.28 percent during trading, causing it to drop from N2.44kobo to N2.36kobo per share.
Jaiz Bank experienced a decline of 3.26 percent, with its shares dropping from N0.92kobo to N0.89kobo per share.
In today’s trading session, Transcorp emerged as the top performer with a total of 6.12 billion shares traded, valued at N15.56 billion.
The trading activity on the Nigerian Stock Exchange saw Aluminium Extrusion recording a total of 112.53 million shares valued at N731.49 million.
Access Corporation has recently sold 60.51 million shares, which were valued at N632.25 million.
In the latest trading session, UBA recorded a total of 28.60 million shares traded, with a total value of N217.95 million. Meanwhile, Fidelity Bank reported a total of 22.32 million shares sold, with a total value of N123.64 million.
Dollar To Naira Black Market Exchange Rate Today May 1, 2023
Dollar to Naira Quagmire.
For both Nigerians and foreign investors, the black market exchange rate between the US dollar and the Nigerian naira has been a constant source of worry.
Nigeria, which has a population of over 200 million people and an economy that is dependent on oil to maintain its economic stability. However, a number of factors, including inflation, a dearth of foreign investment, and a lack of foreign exchange reserves, have had an impact on the value of the naira.
As a result, many Nigerian citizens and companies are now forced to turn to the black market in order to obtain foreign currency. The difference between the official exchange rate and the actual value of the naira on the international market is frequently reflected in the black market exchange rate, which is determined by market forces.
The price of goods and services in Nigeria, business profitability, and the nation’s overall economic stability can all be significantly impacted by this rate. Therefore, anyone looking to operate in Nigeria’s financial sector must understand the dynamics of the dollar to naira black market exchange rate.
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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 May 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.
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Thanks for using our platform to learn about the latest News in Nigeria on CBN exchange rate dollar to naira, Black Market Exchange rate for today May 1, 2023.