Dollar to Naira Black Market Today May 24, 2023 | Aboki Exchange rate

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Dollar to Naira black market exchange rate today
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The dollar to naira black market exchange rate today and Aboki exchange rate for Wednesday May 24, 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 Tuesday, May 23, 2023 that the current Aboki Exchange Rate Today for the US dollar to naira at the Parallel Market has settled at ₦756 per dollar.

 

1 Dollar To Naira Black Market Exchange Rate Today May 24, 2023.

how much is dollar to naira black market (USD to NGN rate) USD to naira black market today 
Buying Rate ₦ 745
Selling Rate ₦ 755

 

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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.

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Euro to naira today (€) Euro to naira today black market exchange rate.
Buying ₦ 789
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 ₦ 909
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 ₦39
Selling Rate ₦42

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 ₦165
Selling Rate ₦169

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 ₦86
Selling Rate ₦90

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 ₦68
Selling Rate ₦73

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.

NGX: Transcorp, Unilever, others make N130bn as market cap rises by 0.48%

On Tuesday, the equity capitalization of the Nigerian stock market was N28.65 trillion at the close of trading.

Over the N28.52 trillion reported on Monday, the amount increased by N130 billion, or 0.48 percent.

In a similar vein, the All-Share Index rose by 252.06 basis points to close at 52,621.19, up from 52,369.13 reported by the bourse the day before.

In 5,946 transactions on Tuesday, investors transacted 350.97 million shares worth N8.20 billion.

This was more than the 315.69 million shares worth N4.03 billion that shareholders traded in 5,846 transactions on Monday.

Transcorp topped the list of gainers with a N0.26 billion increase in share price, going from N2.64 to N2.90 per share.

Tripple Gee’s share price increased by N0.29kobo to N3.24kobo at the close of trading from N2.95kobo per share.

Unilever increased its share price by N1.30kobo to N14.70kobo from N13.40kobo.

UPL increased by N0.18 kobo to close at N2.05, exceeding its initial share price of N1.87 kobo.

Shares of Chams increased in value by 9.38 percent, from N0.32 to N0.35 kobo.

Chellaram was the biggest loser, dropping from N1.81kobo to N1.63kobo per share after losing N0.18kobo.

Dollar To Naira Black Market Exchange Rate Today May 24, 2023

The share price of Sunu Assurance decreased by 9.43% to close trading at N0.48kobo from N0.53kobo.

C&I Leasing decreased by N0.31kobo to close trading at N3.20kobo per share from N3.51kobo.

Japaul Gold’s stock lost 5.71 percent during trading, going from N0.35 to N0.33 per share.

Cadbury’s share price decreased by N0.95 billion, from N17.35 billion to N16.40 billion.

With 62.44 million shares worth N511.06 million, UBA led the day’s trading.

Following with 58.99 million shares worth N1.58 billion was Zenith Bank.

GTCO raised N875.10 million by selling 31.7 million shares.

Transcorp sold 17.80 million shares valued at N50.10 million, while Access Corporation exchanged 19.47 million shares worth N203.07 million.

Dollar To Naira Black Market Exchange Rate Today May 24, 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 24, 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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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 24, 2023.

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