Stay well-informed about today’s Dollar to Naira black market exchange rate and the Abokifx Dollar to Naira exchange rate on this Monday, September 18, 2023. Access current Abokifx exchange rate in Nigeria today black market and accurate information regarding the most recent Black market exchange rate today & currency conversion rates.”
What’s the current value of one US Dollar to Naira in the black market today?
Stay updated on today’s Dollar to Naira Today black market nairaland with Aboki FX.
Dollar To Naira Yesterday Black Market
The exchange rate for a dollar to naira black market exchange rate at Lagos (Parallel Market ) players buy a dollar for N915 and sell at N920 on Sunday, September 17, 2023, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Aboki dollar to naira black market exchange rate today nairaland
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Central Bank of Nigeria (CBN) Naira Exchange Rates for banks.
Banks in Nigeria are now using I & E exchange rates in selling and buying Dollars.
Euro To Naira Black market exchange rate ngnrates.com
The euro to naira exchange rate on September 15 , 2023, is as follows:
- Buying rate: N1573.83/€
- Selling rate: 1575.83/€
This means that you can buy 1 euro for 1575.83 naira, and you can sell 1 euro for 1573.83 naira.
Pound To Naira Black market exchange rate ngnrates.
Pound to naira exchange rate at the Investors and Exporters (I&E) window on September 15 , 2023:
- Buying rate: 1,04.41 naira
- Selling rate: 1,075.80 naira
This means that you can buy 1 pound for 1,035.41 naira, and you can sell 1 pound for 1,035.80 naira.
Why Exchange Rates Matter
Understanding exchange rates is not only for currency traders but also for businesses involved in international trade, travelers planning trips abroad, and anyone conducting financial transactions that involve converting between the Naira and Dollar. These rates can affect prices, profits, and the overall economic landscape
Factors Influencing Foreign Black Market dollar to naira Exchange Rate
Here are some of the causes of the dwindling dollar-to-naira exchange rate.
Inflation Rates: It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is controlled, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.
Interest Rates: Another tool to keep an eye on is interest rates. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall.
- News in Nigeria
- Dollar to Naira
- Politics in Nigeria
- Pool Fixtures
- Pool Results
- Pool codes
- Npower News
- Jobs in Nigeria
Final Thoughts on black market dollar to naira exchange.
In today’s interconnected world, understanding currency conversion rates is fundamental. The Aboki Dollar to Naira exchange rate and the black market rate offer unique perspectives on currency valuations in Nigeria. Staying informed empowers you to navigate the complexities of currency exchange, optimize transaction values, and make sound financial choices.
Stay tuned for future updates on currency exchange rates, ensuring you always have the most accurate and current information for all your currency conversion needs.