Dollar to Naira Black Market Exchange Rate Today May 5, 2023 (Aboki Exchange)

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Dollar to Naira black market exchange rate today
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If you want to know what is the dollar to naira black market exchange rate  today and Aboki Exchange Rate Today to naira, May 5, 2023, then you are at the right place.

 

The black market dollar-to-naira exchange is also known as the (Aboki fx). You can find the latest black market dollar-to-naira exchange rate below.

 

Knowing today’s current dollar-to-naira exchange rate is crucial in order to exchange your dollars for the most favorable rates available.

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What is the current Aboki Exchange Rate Today dollar to naira in the black market?

 

| Aboki Exchange Rate Today dollar to naira

 

Sources at operators reported that the average closing exchange rate for a dollar to naira at the Parallel Market (Aboki Exchange Rate Today dollar to naira) yesterday, Thursday, May 4, 2023, was ₦745 per dollar.

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1 May 5, 2023.

how much is dollar to naira black market ( to NGN rate) USD to naira black market today 
Buying Rate ₦ 735
Selling Rate ₦ 745

 

Therefore, 1000 Naira to dollar conversion rate will give you N749,000.

How much is $100 in black market today?.

Now, How much is $100 US in Nigeria?

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  • $100 USD in black market today will give you ₦74,900

 

It is very important to note that the Central Bank of Nigeria (), 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 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.

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Euro to naira today (€) Euro to naira today black market exchange rate.
Buying ₦ 800
Selling ₦ 805

 

How much is Pound to naira today in black market.

Pound to naira today (£) pound to naira today .
Buying ₦ 910
Selling ₦ 915

 

The Canadian 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.

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Rand to Naira (ZAR to NGN) Black Market Exchange Rate Today
Buying Rate ₦38
Selling Rate ₦36

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 ₦163
Selling Rate ₦167

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.

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Yuan to Naira (CNY to NGN) Black Market Exchange Rate Today
Buying Rate ₦87
Selling Rate ₦91

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 ₦67
Selling Rate ₦74

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).

 

Dollar to Naira Black Market Exchange rate

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The price listed above is the current 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.

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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 average of 461 naira per dollar. The Nigerian Economy is drastically affected by the .

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The following is Interbank dollar to naira rate

 
(USD to NGN 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£

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

MTN Nigeria faces N1.48bn lawsuits over electrocution, others.

 

Coinbase, a cryptocurrency exchange based in the United States, has notified cryptocurrency traders that effective May 10, 2023, they will no longer be able to secure loans from the exchange.

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The cryptocurrency exchange provides a service called “Coinbase Borrow” that enables clients to utilise 30% of their Bitcoin holdings to secure a loan of approximately $1 million, subject to interest.

On Wednesday, Coinbase disseminated information regarding its loan option to Bitcoin traders via email. It has been revealed that the decision was influenced by regulatory scrutiny.

Following the demise of FTX, a cryptocurrency exchange, regulatory bodies have intensified their oversight of exchange platforms in order to safeguard investments in the cryptocurrency sector.

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Dollar To Naira Black Market Exchange Rate Today May 5, 2023.

 

As previously reported by Ejes Gist News Today , Sam Bankman-Fried, the founder of FTX, utilised his exchange platform as a credit source to finance his political donations and personal expenses.

 

The credit was acquired through customer investments in trading activities on FTX. This purportedly resulted in the failure of the trading platform. The individual in question has been apprehended and charged with various offences, including but not limited to the misappropriation of clients’ funds and fraudulent activities.

Coinbase has recently announced an update to its loan option, which will result in traders on the platform losing access to their credit starting May 10. This decision comes in the wake of FTX’s failure, which has cast a shadow over cryptocurrency exchange platforms.

The email states that effective May 10, 2023, Coinbase Borrow will discontinue offering new loan services to its customers.

Coinbase has stated that the discontinuation of the credit option will not have any impact on the loans that have already been extended. Therefore, no action is required at this time regarding your outstanding loans.

Coinbase has stated that you will retain access to your loan history and the complete Borrow dashboard.

 

 

Dollar To Naira Black Market Exchange Rate Today May 5, 2023

Dollar To Naira Black Market Exchange Rate Today
Graphic of Dollars and Nairas

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.

 

Ejes Gist News Today Recommends the following links for you.  

 

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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.

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Naira today

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 5, 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.Dollar To Naira today

 

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We appreciate your utilization of our platform to stay informed on the current news in Nigeria, particularly regarding the CBN exchange rate of the dollar to the naira and the Black Market exchange rate for May 5, 2023.

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