The dollar to naira black market exchange rate today and Aboki exchange rate for Wednesday May 31 , 2023.
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
On Tuesday, May 30, 2023, experts in the field of Bureau de Change (BDC) operations revealed that the latest Aboki Exchange Rate Today for the US dollar to naira at the Parallel Market has closed at ₦757 per dollar.
1 Dollar To Naira Black Market Exchange Rate Today May 31 , 2023.
| how much is dollar to naira black market (USD to NGN rate) | USD to naira black market today |
| Buying Rate | ₦ 750 |
| Selling Rate | ₦ 758/759 |
Therefore, 1000 Naira to dollar conversion rate will give you N759,000.
How much is $100 in black market today?.
Now, How much is $100 US in Nigeria?
- $100 USD in black market today will give you ₦75,900
Please note that the Central Bank of Nigeria (CBN), as the apex bank, does not acknowledge the parallel market (black market) and has directed Nigerians seeking to engage in Forex to approach their respective banks. Regrettably, due to the corrupt nature of Nigerian banks, it may take up to 60 days to obtain dollars through official channels. As a result, the black market remains the most dependable means of accessing dollars.
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Many Nigerians are greatly concerned about the exchange rate of the Nigerian naira against the dollar.
How much is Euro to naira today in black market.
| Euro to naira today (€) | Euro to naira today black market exchange rate. |
| Buying | ₦ 784 |
| Selling | ₦ 803 |
How much is Pound to naira today in black market.
| Pound to naira today (£) | pound to naira today black market exchange rate. |
| Buying | ₦ 909 |
| Selling | ₦ 915 |
The Canadian Dollar to Naira black market exchange rate today is N688/1c$
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 |
| Buying Rate | ₦39 |
| Selling Rate | ₦42 |
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 |
| Buying Rate | ₦165 |
| Selling Rate | ₦169 |
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 |
| Buying Rate | ₦86 |
| Selling Rate | ₦90 |
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 |
| Buying Rate | ₦68 |
| Selling Rate | ₦73 |
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 |
| Buying Rate | 464 |
| Selling Rate | 467 |
- 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.
Tinubu’s promise to investors propels Nigeria’s capital market to N1.5tr gain.
The Nigerian capital market experienced a significant surge in the value of investments on Wednesday, following President Bola Tinubu’s commitment to investors in his inaugural speech. This growth marks the largest increase in investment value witnessed this year.
In a recent address at Eagle Square in Abuja, the President made a promise to review the complaints of investors regarding multiple taxations and other investment constraints in the country.
In a recent statement, the speaker conveyed a message directed towards both local and foreign investors. The government, he stated, will be taking a closer look at the grievances they have raised regarding multiple taxations and other obstacles to investment.
The speaker has pledged to guarantee that investors and foreign enterprises will bring back their well-deserved earnings and gains to their respective countries.
Investors were galvanised by the president’s reassurance, leading to a renewed interest in the capital market. This resulted in a surge in the bourse by 5.21 percent on Wednesday, as companies’ shares were eagerly sought after.
Investors in the capital market experienced a significant surge in the value of their investments between January and May 26, with the highest growth rate recorded at 2.67 percent. This remarkable development is believed to have been influenced by Tinubu’s statement.
Equity capitalization witnessed a remarkable surge on Wednesday, soaring from N28.84 trillion to N31.34 trillion, marking a staggering growth of N1.50 trillion.
The All-Share Index experienced a surge of 2,764.47 basis points, resulting in a closing value of 55,738.35. This marks a significant increase from last Friday’s value of 52,973.88 on the bourse.
Today, a total of 1.07 billion shares were traded by investors in 9,916 deals, with a total value of N15.79 billion.
In a remarkable feat, shareholders traded a whopping 461.78 million shares worth N7.66 billion in 6,520 deals, surpassing last Friday’s numbers.
Eterna emerged as the top gainer in the stock market, with a notable increase of N0.70kobo in its share price, rising from N7 to N7.70kobo per share.
Sterling Bank’s shares experienced a rise in value, closing at N1.98kobo per share, up by N0.18kobo from its previous value of N1.80kobo per share.
Transcorp Hotels experienced a surge of 10% in its share price, rising from N7.50kobo to N8.25kobo per share.
Deap Capital Management saw a 10% increase in its stock price, closing at N4.62kobo, which is higher than its opening price of N4.20kobo per share.
FCMB’s stock witnessed a surge of N0.42 kobo, rising from N4.20 kobo to N4.62 kobo per share.
Ikeja Hotel emerged as the top loser in the stock market, experiencing a decline of N0.24kobo from N2.40kobo to N2.16kobo per share.
NCR’s stock experienced a decline of N0.31kobo, closing at N2.76kobo from its previous value of N3.06 per share.
Tantalizer’s shares experienced an 8% decline, closing at N0.23kobo from its previous value of N0.25kobo per share.
International Energy Insurance witnessed a significant decline in its share value during trading, dropping from N1.30kobo to N1.20kobo per share, representing a 6.98 percent loss.
Consolidated Hallmark Insurance experienced a 6.56% decrease, falling from N0.61kobo to N0.57kobo per share.
In today’s trading session, Access Corp emerged as the top performer with a total of 199.62 million shares traded, valued at N2.44 billion.
First Bank recorded a transaction of 127.93 million shares valued at N1.74 billion.
Transcorp has reportedly divested 95.68 million shares valued at N319.24 million.
In the latest trading session, UBA recorded a transaction of 81.99 million shares worth N831.47 million, while GTCO sold 76.38 million shares valued at N2.18 billion.
Dollar To Naira Black Market Exchange Rate Today May 31 , 2023
Dollar To Naira Black Market Exchange Rate Today May 31 , 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 31 , 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 31 , 2023.
