What is the Dollar to Naira Exchange Rate at the Black Market, the Pounds to naira black market Today and the Euro To Naira today black market also known as the Parallel Market (Aboki FX)?Â
Please find below the black market exchange rate for the dollar to Naira on February 25, 2024. These are the rates at which you can exchange your dollar for Naira.
How much is a Naira to dollar today in the black market? Dollar to Naira Exchange Rate Today in the Black Market (Aboki Dollar Rate):
Dollar to Naira Black Market Rate Today, February 25, 2024:
Dollars to Nairas (USD to NGN) Black Market Exchange Rate Today
- Buying Rate: N1695
- Selling Rate: N1700
Pounds to Naira black market Today.
The British Pounds to Naira exchange rate is as follows.
- Buying Rate: N2525
- Selling Rate: N2530
Euro To Naira today black market
The Euro To Naira black market exchange rate today is :
- Buying Rate: N1890
- Selling Rate: N1916
While the Central Bank of Nigeria (CBN) sets the official foreign exchange rate, transactions happening outside authorized channels, like the parallel market, operate independently. It is recommended to use authorized channels like banks for foreign exchange transactions.
Also See :Â Black Market Dollar rate to Naira Exchange today 22 February 2024
Dollar to Naira CBN Rate Today:
Dollar to Naira (USD to NGN) CBN Rate Today
- Buying Rate: N1,500
- Selling Rate: N1,504
Euro to Naira CBN Rate Today:
Dollar to Naira Exchange rate Today (CBN rates)
- Buying Rate: N1,494
- Selling Rate: N1,493
Pounds to Naira Today
Pounds to NGN CBN Rate Today
- Buying Rate: N1,886
- Selling Rate: N1,887
Euro to Naira Today
Euro to Naira exchange rate Today
- Buying Rate: N1,612
- Selling Rate: N1,613
Please be advised that the rates at which you buy or sell forex may differ from those displayed in this article due to price fluctuations.
Meanwhile, at the Lagos Parallel Market, popularly referred to as the Black Market, the exchange rate between the US dollars and the Naira concluded at 1650 per dollar yesterday, as reported by sources in the Bureau De Change (BDC).
Profit-Taking Spurs N1.988 Trillion Loss in Nigerian Equities Market in One Week
Investors in the Nigerian equities market witnessed a significant setback, incurring a loss of approximately N1.988 trillion by the close of the trading week. The domestic bourse grappled with substantial selling pressure, resulting in a decline of 3.44% and settling the benchmark index at 102,088.30 points. This marks a notable decrease from the week’s opening position of 105,722.78 points on Monday.
Market analysts attribute this downturn to investors seizing the opportunity to capitalize on profits following a remarkable bullish rally observed in recent times.
According to available statistics from Nairametrics, the All-Share Index, a broad indicator of Nigerian stock performance, started the week at 105,722.78 index points on February 19, 2024, and concluded the week at 102,088.30 points on February 23, reflecting a loss of 3,634.48 basis points or 3.44%.
Further analysis reveals that activities on the Nigerian Exchange Limited (NGX), beginning the week with a market capitalization of N57.849 trillion, closed the week at N55.861 trillion. This results in a week-to-date loss of about N1.988 trillion.
Despite the overall downturn, specific sectors showed resilience, with NGX ASem, NGX Consumer Goods, and NGX Oil and Gas appreciating by 11.66%, 2.01%, and 0.01%, respectively.
Key Market Statistics:
- Total turnover: 1.377 billion shares
- Total value: N31.584 billion
- Total deals: 42,040
The Financial Services Industry led the activity chart, contributing 69.77% and 53.33% to the total equity turnover volume and value, respectively. Other notable sectors contributing to the turnover include the Conglomerates Industry and the Oil and Gas Industry.
Trading in the top three equities, namely Guaranty Trust Holding Company Plc, FBN Holdings Plc, and Transnational Corporation Plc, accounted for 24.96% and 29.86% of the total equity turnover volume and value, respectively.
In the midst of market fluctuations, fourteen equities appreciated during the week, while sixty-six equities depreciated, and seventy-four equities remained unchanged. This marks a shift from the previous week, where thirty-five equities appreciated, fifty-one depreciated, and sixty-eight remained unchanged.
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