Dollar to Naira Black Market Exchange Rate Today May 6, 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 dollar to naira, May 6, 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.

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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

 

Yesterday, Friday, May 5, 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 ₦745 per dollar.

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1 Dollar To Naira Black Market Exchange Rate Today May 6, 2023.

how much is dollar to naira black market (USD to NGN rate) USD to naira black market today 
Buying Rate ₦ 735
Selling Rate ₦ 740

 

Therefore, 1000 Naira to dollar conversion rate will give you N740,000.

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 ₦74,000

 

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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.

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Euro to naira today (€) Euro to naira today black market exchange rate.
Buying ₦ 789
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 ₦ 910
Selling ₦ 915

 

The Canadian Dollar to Naira black market exchange rate today is N688/1c$

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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.

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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

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.

Nestle Nigeria’s export revenue falls by N1.76 billion, cost gulps 60% of turnover.

According to recent findings by Ripples Nigeria, Nestle Nigeria experienced a decline in revenue from exported products amounting to N1.76 billion or 87.3% during the period of January to March 2023.

The organisation is engaged in the manufacturing of beverage and food items, including Milo, Chocomilo, Nescafe, Milo ready-to-drink (RTD), Nestlé Pure Life, Maggi, Cerelac, Nan, Lactogen, and Golden Morn.

According to reports, the aforementioned products generated N256.60 million in export revenue during the first quarter (Q1) of the current year. However, this figure falls short of the N2.02 billion recorded in export revenue during the corresponding period in 2022.

Dollar To Naira Black Market Exchange Rate Today May 6, 2023.

 

Nestle Nigeria’s revenue in Q1 2023 was bolstered by sales in Nigeria, which amounted to N127.71 billion. This represents a notable increase from the N108.19 billion generated during the same period in the previous year.

Nestle has reported a Q1 turnover of N127.97 billion, indicating a 16% increase from the N110.22 billion total revenue recorded in the corresponding period of the previous year.

The aforementioned information was derived from the Unaudited Financial Statements of the company for the period ending March 31, 2023, which were acquired on Friday.

Although Nestle experienced a 16% increase in its overall revenue, a significant portion of this growth was offset by the expenses incurred in the production of the company’s goods. Specifically, the cost of production accounted for 60% of the firm’s turnover during the period spanning from January to March 2023.

During the review period this year, Nestle allocated N76.31 billion towards the production of various products including Milo, Maggi, Nescafe, Golden Morn, and Nestle Pure Life. The cost of sales posted in 2022 was exceeded by N9.33 billion.

Nestle experienced a decline of -10% in net profit at the conclusion of the first quarter of 2023. The company’s profit after tax amounted to N16.20 billion, which is lower than the N17.98 billion net profit recorded in Q1 of the previous year.

 

 

Dollar To Naira Black Market Exchange Rate Today May 6, 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.

 

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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.

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 6, 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 6, 2023.

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