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Dollar to Naira Black Market Today May 27, 2023 | Aboki Exchange rate

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The dollar to naira black market exchange rate today and Aboki exchange rate for Saturday May 27 , 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.

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.

 

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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 26, 2023, experts in the field of Bureau de Change (BDC) operations revealed that the latest Aboki Exchange Rate Today for the US dollar to naira at the Parallel Market has closed at ₦770 per dollar.

 

1 Dollar To Naira Black Market Exchange Rate Today May 27 , 2023.

how much is dollar to naira black market (USD to NGN rate) USD to naira black market today 
Buying Rate ₦ 755
Selling Rate ₦ 765

 

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.
Buying ₦ 784
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 ₦ 909
Selling ₦ 915

 

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
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.

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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.

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

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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.

 

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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.

Equity Capitalization in Nigerian Capital Market Surges to N28.81 Trillion, Boosting Investor Confidenc

The Nigerian capital market witnessed a significant surge in equity capitalization, reaching an impressive N28.81 trillion at the close of trading on Friday. This marked an increase of N166.84 billion compared to the previous day’s figure of N28.65 trillion. The notable rise in equity capitalization has injected a renewed sense of optimism among investors, particularly benefiting shareholders of Tripple Gee and Nestle.

 

Tripple Gee and Nestle emerged as the key gainers in the market, further solidifying their positions as attractive investment options. Nestle experienced a remarkable rise in share price, climbing by N104.20kobo from N1043.80kobo to N1148 per share. Similarly, Tripple Gee witnessed a boost in share value, increasing by N0.32kobo to close at N3.56kobo from N3.26kobo per share.

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Dollar To Naira Black Market Exchange Rate Today May 27 , 2023

UAC Nigeria also fared well, gaining N0.80kobo to reach N9 per share, surpassing its previous value of N8.20kobo. Additionally, UPL experienced an upturn in fortunes, with its share price rising by N0.20kobo to close at N2.27 kobo, surpassing its opening price of N2.05 per share. RT Briscoe displayed significant growth, as its share price soared by 9.68 percent, surging from N0.31 kobo to N0.34 kobo per share.

 

However, not all stocks experienced positive movements in the market. Chellaram emerged as the biggest loser, shedding N0.15kobo to decline from N1.63kobo to N1.47kobo per share. McNichol’s share price also experienced a downturn, dropping by 9.59 percent to conclude trading at N0.66kobo from N0.73kobo per share. Wapic experienced an 8.70 percent loss, closing at N0.42kobo from N0.46kobo per share. Academy’s shares dropped from N1.68kobo to N1.56kobo per share after losing N0.12kobo, and Cutix lost 3.23 percent, falling from N2.48kobo to N2.40kobo per share.

 

Trading activity remained robust, with investors engaging in a total of 455.17 million shares valued at N7.83 billion across 6,635 deals on Friday. This surpassed Tuesday’s trading, which recorded 350.97 million shares valued at N8.20 billion in 5,946 deals.

 

In terms of the most actively traded stocks, Access Corporation took the lead with 69.18 million shares worth N755.72 million. UBA followed closely with 66.49 million shares valued at N577.77 million. Zenith Bank recorded the sale of 37.54 million shares worth N1 billion. Fidelity Bank traded 32.50 million shares valued at N182.77 million, while GTCO sold 3.10 million shares worth N848.30 million.

 

The surge in equity capitalization and positive movements in the market reflect a growing investor confidence in the Nigerian capital market. These developments bode well for the overall economic outlook, as investors continue to explore opportunities and make informed investment decisions.

Dollar To Naira Black Market Exchange Rate Today May 27 , 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 27 , 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 27 , 2023.

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