Dollar to Naira Black Market Exchange rate today 20th January 2023 – Here is the current USD to naira rate today. See today’s CBN & Dollar to Naira Exchange rate at aboki fx and the black market. You can change your USD to naira at these rate or convert dollar to naira at the latest black market rate or parallel market.
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So many Nigerians prefer to exchange their foreign currencies especially the US Dollars to naira using the black market because the exchange rate is very high compared to what the bank offers. If you want to know the current black market rate, here is the page to find that.
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Aboki fx dollar to naira exchange rate has also been added here so you can easily verify each of the rate for the currencies you want to exchange in the parallel markets. Aboki fx is the most trusted source for black market dollar to naira rate today. You can find their exchange rate for today here.
Dollar to Naira Black Market Exchange rate Yesterday 19th January 2023
The exchange rate between the naira and the US dollar closed at an average of N734/$1 on Thursday 19th January 2023 at the black market, representing a 0.00% appreciation when compared to previous day trading of N737/$
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This is according to information obtained by Ejes Gist Dollar from black market traders and Aboki dollar to Naira exchange Operators.
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Dollar to Naira Black Market today 20th January 2023
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 742 |
| Selling Rate | 745 |
What is the current dollar to naira exchange rate in parallel market? Well, it may interest you to know that Dollar to Naira rate in the black market sometimes varies hugely from the rate in Central Bank of Nigeria website (www.cbn.gov.ng).
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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 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 573 Naira Per Dollar. The Nigerian Economy is drastically affected by the Dollar to Naira exchange rate.
| Dollar to Naira (USD to NGN) | Official Dollar to Naira Exchange Rate Today |
| Buying Rate | 457 |
| Selling Rate | 461 |
Dollar to Naira Bank rate today.
Banks in Nigeria sell dollars between 540 to 545 to a dollar.
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As Naira is falling, inflation takes over the economy which usually affects the citizens. Central Bank Governor, Godwin Emefiele has said that the Nigerian Economy needs a massive turnaround and has urged Nigerians to work towards it.
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The black market commonly referred to as Aboki market rate for dollars is usually higher than the exchange rate at the banks which is usually regulated by the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate you can buy or sell dollars for naira listed on CBN dollar to naira website cbn.gov.ng.
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However, USD to Naira bank rate is the rate you use when purchasing something from foreign websites using your Naira Mastercard or Debit card from Nigerian Banks. These rate normally would always be lower than what is obtainable in the black market.
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NGX news: Market cap up by 0.02% as Zenith Bank, GTCO top trading
The Nigerian capital market grew slowly on Thursday, with the total value of investments reaching N28.66 trillion at the close of trading.
The bourse’s market capitalization increased by 0.02 percent, or N5.94 billion, from N28.65 trillion on Wednesday.
The All-Share Index rose 10.91 basis points to close at 52,626.42, up from 52,615.51 the day before.
On Thursday, investors paid N1.81 billion for 129.03 million shares in 3,183 transactions.
This was less than the N4.47 billion spent by shareholders on 217.94 million shares in 3,377 transactions on Wednesday.
International Energy Insurance led the gainers’ list, with its share price rising 9.76 percent, from N0.41kobo to N0.45kobo per share.
CWG increased by 9.47 percent, from N0.95kobo to N1.04 per share.
Caverton’s share price increased by 9.38 percent to N0.96kobo, up from N1.05 per share.
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John Holt’s shares increased 9.09 percent, rising from N0.88kobo to N0.96kobo per share.
Linkage Assurance closed at N0.52kobo, up 8.33 percent from its opening price of N0.48kobo per share.
C&I Leasing led the losers’ table, dropping from N3.50kobo to N3.15kobo per share after losing N0.35kobo.
Chams’ share price fell 7.14 percent to N0.26kobo per share, down from N0.28kobo.
Sovereign Insurance fell 7.14 percent to N0.26kobo per share, down from N0.28kobo.
UPDC REIT lost N0.20kobo, reducing its share price from N3.30kobo to N3.10kobo.
After losing 5.56 percent during trading, Royal Exchange’s share price fell from N0.90kobo to N0.85kobo.
Zenith Bank led the trading for the day with 18.55 million shares worth N455.73 million.
GTCO exchanged 18.52 million shares valued at N451.13 million.
UBA raised N78.61 million by selling 9.73 million shares.
Royal Exchange came in second with 9.39 million shares worth N7.79 million, while Access Corp traded 7.67 million shares worth N69.49 million.
What are the Facts Influencing Foreign Exchange Rate of dollars to Naira
Here are some of the reasons for the dollar-to-naira exchange rate’s decline.
Inflation Rates: It is common knowledge that inflation has a direct impact on black market exchange rates. The naira will benefit if the Nigerian economy can be stabilised and inflation is brought under control; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive on a daily basis.
Interest Rates: Interest rates are another tool to keep an eye on. If the interest rate at which banks lend money rises, the economy will contract, and the value of the naira will fall as a result.
Naira to dollar Gains Massively at Black Market Exchange Window
Government debt has the potential to affect investor confidence and, as a result, the flow of funds into the economy. If inflows are high, the naira exchange rate will rise in its favour.
Speculators: Speculators have a significant impact on the naira-to-dollar exchange rate. They hoard money in anticipation of a profit, causing the naira to fall even further.
Trade Conditions: Although Nigeria is currently running a trade deficit, favourable trade terms will lead to an increase in the value of the Nigerian currency to the dollar. China, India, and the majority of Asian countries supply everything.
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What’s your Opinion on Dollar to Naira Black Market today Friday 20th January 2023, 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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