Dollar to Naira Black Market Today May 22, 2023 | Aboki Exchange rate
The dollar to naira black market exchange rate today and Aboki exchange rate for Monday May 22, 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
Individuals who are well versed in Bureau de Change (BDC) operations disclosed on Sunday, May 21, 2023 that the current Aboki Exchange Rate Today for the US dollar to naira at the Parallel Market has settled at ₦747 per dollar.
1 Dollar To Naira Black Market Exchange Rate Today May 22, 2023.
|how much is dollar to naira black market (USD to NGN rate)||USD to naira black market today|
|Buying Rate||₦ 745|
|Selling Rate||₦ 750|
Therefore, 1000 Naira to dollar conversion rate will give you N750,000.
How much is $100 in black market today?.
Now, How much is $100 US in Nigeria?
- $100 USD in black market today will give you ₦75,000
Please note that the Central Bank of Nigeria (CBN), as the apex bank, does not acknowledge the parallel market (black market) and has directed Nigerians seeking to engage in Forex to approach their respective banks. Regrettably, due to the corrupt nature of Nigerian banks, it may take up to 60 days to obtain dollars through official channels. As a result, the black market remains the most dependable means of accessing dollars.
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Many Nigerians are greatly concerned about the exchange rate of the Nigerian naira against the dollar.
How much is Euro to naira today in black market.
|Euro to naira today (€)||Euro to naira today black market exchange rate.|
How much is Pound to naira today in black market.
|Pound to naira today (£)||pound to naira today black market exchange rate.|
The Canadian Dollar to Naira black market exchange rate today is N688/1c$
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.
Big shots, investment losses put FCMB, Airtel Africa, Ardova on stock to watch list this week
With the Nigerian stock market returning to life this week, keep First City Monument Bank (FCMB), Airtel Africa, and Ardova on your watch list.
Ripples Nigeria stocks watchlist is a list of stocks that are being monitored for potential trading or investing opportunities. An investor may generate a list of equities for investment purposes on the spur of the moment. But we’ve gone to the trouble of doing it based on specific parameters to save you the trouble.
Please keep in mind that the Ripples Nigeria Stocks Watchlist is not a buy, sell, or hold recommendation. Before making any investment decision, it is best to consult with your financial advisor.
Last week, First City Monument Bank (FCMB) made headlines due to the acquisition of shares by its top directors and the firm’s sole majority investor, Primrose Investments Limited.
On May 10, they purchased 13.37 million shares. According to corporate disclosures sent to the stock market authority, Nigerian Exchange Limited (NGX), the purchase of shares cost them N53.50 million.
Their participation in share acquisition could boost stock market confidence in FCMB shares, as market activities of major shareholders serve as a guide for minority shareholders.
Although it is not guaranteed that a company’s share price will rise as a result of acquisitions made by the company’s directors, investors should proceed with caution.
Dollar To Naira Black Market Exchange Rate Today May 22, 2023
Airtel Africa shareholders lost 6% of their investment value at the end of last week’s trading, as the company’s share price fell.
Airtel Africa shareholders have lost 28.13 percent of their investment year to date, with the company’s share value falling from N1,635 to N1,175 between January and May 19.
This indicates that Airtel Africa has had a disappointing stock market performance in the last five months, with more losses than gains for shareholders.
It also reflects the stock market’s failure to recognise Airtel Africa as an investable asset, contributing to the company’s investor apathy.
As the stock market resumes for another week, Airtel Africa will begin trading from the losers’ table, so investors should be cautious because the bears may still be looking at the company.
Investors holding Ardova shares lost a whopping -23.67% of their investment value within five days of stock trading due to a lack of interest in the company.
The loss is nearly three times the 9.51 percent investment growth Ardova shareholders experienced between January and May 2023.
The stock market is not clamouring to get their hands on Ardova; rather, investors are snubbing the company like it’s a flea.
Because it is unclear whether the bears will tighten their grip on Ardova, investors should proceed with caution when trading Ardova shares.
Dollar To Naira Black Market Exchange Rate Today May 22, 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 22, 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 22, 2023.