Dollar to Naira Black Market Exchange Rate Today May 12, 2023 (Aboki Exchange)
The dollar to naira black market exchange rate and Aboki exchange rate for today Friday May 12, 2023 has been highlighted here on Ejes Gist Newsonline Nigeria.
The exchange rates for the day depend on a range of economic and political factors that impact the value of the currencies. The black market exchange rate refers to the unofficial exchange rate, which is often higher than the official exchange rate.
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The Aboki exchange rate is a common term used in Nigeria to refer to the currency exchange rates offered by street traders, who are often referred to as Abokis. It is important to note that currency exchange rates can fluctuate rapidly and should be verified with a trusted source before conducting any transactions.
It is important to know the current dollar-to-naira exchange rate to get the best exchange rates when exchanging dollars.
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Dollar to naira exchange rate today black market | Aboki Exchange Rate Today dollar to naira
Yesterday, Friday, May 11, 2023, insiders at Bureau de Change (BDC) firms disclosed that the exchange rate for a US dollar to Nigerian naira at the Parallel Market (Aboki Exchange Rate Today dollar to naira) closed at ₦750 per dollar.
1 Dollar To Naira Black Market Exchange Rate Today May 12, 2023.
|how much is dollar to naira black market (USD to NGN rate)||USD to naira black market today|
|Buying Rate||₦ 743|
|Selling Rate||₦ 748|
Therefore, 1000 Naira to dollar conversion rate will give you N748,000.
How much is $100 in black market today?.
Now, How much is $100 US in Nigeria?
- $100 USD in black market today will give you ₦74,800
Please note that the Central Bank of Nigeria (CBN), as the apex bank, does not acknowledge the parallel market (black market) and has directed Nigerians seeking to engage in Forex to approach their respective banks. Regrettably, due to the corrupt nature of Nigerian banks, it may take up to 60 days to obtain dollars through official channels. As a result, the black market remains the most dependable means of accessing dollars.
Many Nigerians are greatly concerned about the exchange rate of the Nigerian naira against the dollar.
How much is Euro to naira today in black market.
|Euro to naira today (€)||Euro to naira today black market exchange rate.|
How much is Pound to naira today in black market.
|Pound to naira today (£)||pound to naira today black market exchange rate.|
The Canadian Dollar to Naira black market exchange rate today is N688/1c$
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£
Dollar to Naira Bank rate today.
Banks in Nigeria sell dollars between 545 to 569 to a dollar.
Nigeria’s capital market down by N215.6bn amidst sell-off in BUA Cement, Caverton
On Wednesday, Nigerian equity capitalization fell 0.75 percent.
After five hours of trading, market capitalization dropped N215.6 billion from N28.64 trillion to N28.42 trillion.
BUA Cement and Caverton’s sell-off during trading caused the capital market’s investment crash.
The All-Share Index also fell 396.35 basis points to 52,209.06 from 52,605.41 on Tuesday.
Wednesday saw 5,168 trades of 554.31 million shares worth N5.95 billion.
The previous day, shareholders traded 640.96 million shares worth N7.132 billion in 5,684 deals.
Ardova rose from N20 to N22 per share, leading the gainers.
NCR shares rose N0.21kobo to N2.33kobo from N2.12kobo.
Transcorp rose N0.19kobo per share from N1.96kobo to N2.15kobo.
Japaul Gold closed at N0.34kobo, up 9.68% from its opening price of N0.31kobo.
CWG’s share price rose by N0.15, from N1.59 to N1.74.
Dollar To Naira Black Market Exchange Rate Today May 12, 2023.
Caverton led the losers after losing N0.11kobo to drop from N1.16kobo to N1.05 per share.
Sunu Assurance shares fell 9.26% to N0.49kobo from N0.54kobo.
BUA Cement ended trading at N90 per share, down N7.85kobo.
Academy’s share price fell from N1.65kobo to N1.52kobo after trading lost N0.13kobo.
Africa Prudential fell N0.25kobo per share from N5.60kobo to N5.35kobo.
Access Corporation led trading with 139.28 million shares worth N1.46 billion.
FBN Holdings followed with 100.75 million N1.20 billion shares.
FCMB sold 80.17 million N326.46 million shares.
UBA traded 42.93 million shares worth N343.89 million, while Zenith Bank sold 24.48 million shares worth N593.38 million.
Dollar To Naira Black Market Exchange Rate Today May 12, 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 May 12, 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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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 May 12, 2023.