If you want to know what is the dollar to naira black market exchange rate today and Aboki Exchange Rate Today dollar to naira, May 5, 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.
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?
Dollar to naira exchange rate today black market | Aboki Exchange Rate Today dollar to naira
Sources at Bureau de Change (BDC) 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.
1 Dollar To Naira Black Market Exchange Rate Today May 5, 2023.
| how much is dollar to naira black market (USD 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?
- $100 USD in black market today will give you ₦74,900
It is very important to note that the Central Bank of Nigeria (CBN), which is the apex bank, does not recognise the parallel market (black market), as it has instructed Nigerians who want to engage in Forex to approach their respective banks. However, it will take you 60 days to get dollars from any Nigerian bank due to their corruption nature, as the black market is the only reliable option to get dollars.
The exchange rate of the Nigerian naira to the dollar has been a great concern for many Nigerians.
How much is Euro to naira today in black market.
| Euro to naira today (€) | Euro to naira today black market exchange rate. |
| Buying | ₦ 800 |
| Selling | ₦ 805 |
How much is Pound to naira today in black market.
| Pound to naira today (£) | pound to naira today black market exchange rate. |
| Buying | ₦ 910 |
| Selling | ₦ 915 |
The Canadian Dollar to Naira black market exchange rate today is N688/1c$
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 | ₦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.
| 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).
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.
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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.
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.
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 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 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.
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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.
