Dollar to Naira Black Market Today May 20, 2023 | Aboki Exchange rate
The dollar to naira black market exchange rate today and Aboki exchange rate for Saturday May 20, 2023 has been highlighted here on Ejes Gist Newsonline Nigeria.
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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In Nigeria, the term “Aboki exchange rateof dollars to Nairas” is frequently employed to denote the currency exchange rates proposed by street vendors, commonly known as Abokis. It is crucial to bear in mind that these dollar to naira exchange rates can experience rapid fluctuations and must be confirmed with a reliable source prior to engaging in any financial transactions.
Knowing the current dollar-to-naira exchange rate is crucial for obtaining optimal exchange rates during dollar exchanges.
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Dollar to naira exchange rate today black market | Aboki Exchange Rate Today dollar to naira
On Friday, May 19, 2023, individuals with knowledge of Bureau de Change (BDC) operations revealed that the Aboki Exchange Rate Today for the US dollar to naira at the Parallel Market concluded at a rate of ₦750 per dollar.
1 Dollar To Naira Black Market Exchange Rate Today May 20, 2023.
|how much is dollar to naira black market (USD to NGN rate)||USD to naira black market today|
|Buying Rate||₦ 748|
|Selling Rate||₦ 752|
Therefore, 1000 Naira to dollar conversion rate will give you N752,000.
How much is $100 in black market today?.
Now, How much is $100 US in Nigeria?
- $100 USD in black market today will give you ₦75,200
Please note that the Central Bank of Nigeria (CBN), as the apex bank, does not acknowledge the parallel market (black market) and has directed Nigerians seeking to engage in Forex to approach their respective banks. Regrettably, due to the corrupt nature of Nigerian banks, it may take up to 60 days to obtain dollars through official channels. As a result, the black market remains the most dependable means of accessing dollars.
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Many Nigerians are greatly concerned about the exchange rate of the Nigerian naira against the dollar.
How much is Euro to naira today in black market.
|Euro to naira today (€)||Euro to naira today black market exchange rate.|
How much is Pound to naira today in black market.
|Pound to naira today (£)||pound to naira today black market exchange rate.|
The Canadian Dollar to Naira black market exchange rate today is N688/1c$
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|
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|
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|
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|
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|
- 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.
Market cap up by N50bn as Nigeria’s capital market rebounds from trading losses.
On Friday, the Nigerian capital market’s equity capitalization increased by 0.15 percent.
After five hours of trading today, the market capitalization increased by N50 billion, from N28.37 trillion to N28.42 trillion.
Similarly, the All-Share Index rose 78.5 basis points to 52,187.93, up from 52,109.43 reported by the bourse the day before.
On Friday, investors traded 810.77 million shares worth N8.20 billion.
However, this was less than the 334.23 million shares worth N5.14 billion that shareholders traded on Thursday.
Dollar To Naira Black Market Exchange Rate Today May 20, 2023
Tantalizer was the top gainer, with a 10% increase in share price from N0.20kobo to N0.22kobo per share.
FTN Cocoa’s share price increased by 10% to N0.44kobo per share, up from N0.40kobo per share.
NCR gained N0.28kobo, increasing its share price from N2.81kobo to N3.09kobo.
Ikeja Hotel closed at N2.03, up N0.18kobo from its opening price of N1.85kobo per share.
Caverton’s share price increased by N0.10 kobo, rising from N1.05 to N1.15 kobo per share.
Ardova led the losers’ table, dropping from N22.35kobo to N20.15kobo per share after losing N2.20kobo.
CWG’s share price fell by N0.15kobo to N1.54kobo per share, down from N1.69kobo.
Transcorp lost N0.16kobo to end trading at N2.64kobo per share, down from N2.80kobo.
The share price of May & Baker fell from N4.20kobo to N4 per share after losing N0.20kobo during trading.
Wema Bank lost N0.15kobo, bringing its share price down from N4.15kobo to N4.
With 269.72 million shares valued at N1.48 billion, Fidelity Bank led the day’s trading.
Capital Hotel came in second with 226.10 million shares valued at N1.58 billion.
Zenith Bank raised N1.45 billion by selling 57.84 million shares.
UBA traded 48.90 million N408.18 million shares, while Access Corporation sold 40.94 million N418.01 million shares.
Dollar To Naira Black Market Exchange Rate Today May 20, 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 20, 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 20, 2023.