Dollar to naira today black market exchange rates, Nov 24, 2023.
What is the Dollar to Naira black market exchange rates today?
In the ever-evolving economic landscape, the Dollar to naira today black market exchange rates remains a pivotal point of interest, especially in the black market. As of November 24, 2023, we delve into the current rate, providing a comprehensive overview sourced from various platforms.
Dollar to naira today black market exchange rates:
Reports from bureau de change (BDC) operators reveal the following black market rates:
- Buying: ₦1140 for $1
- Selling: ₦1150 for $1
Street vendors are acquiring US dollars at ₦1140 and reselling them at ₦1150, showcasing a notable disparity compared to the official rate for the Dollar to Naira.
Dollar to Naira Black Market Exchange Rates Yesterday:
For reference, the black market closed at ₦1150/$1, determined by the average dollar to naira rates traded at various platforms.
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Official Bank Rates (CBN):
The Central Bank of Nigeria (CBN) sets the official exchange rate:
- Buying: ₦805 for $1
- Selling: ₦806 for $1
Under these official rates, the CBN acquires one US dollar for ₦805 and sells it for ₦806 through authorized dealers.
Dollar to Naira Bank Rates Today:
Data from various banks indicates the average Dollar to Naira Exchange Rate Today:
GTBank:
-
- Buying: ₦980 for $1
- Selling: ₦990 for $1
-
- Buying: ₦993/USD
- Selling: ₦990/USD
-
- Buying: ₦993/USD
- Selling: ₦997/USD
Guaranty Trust Bank (GTBank):
-
- Buying: ₦997.83/USD
- Selling: ₦990/USD
First Bank of Nigeria:
-
- Buying: ₦980/USD
- Selling: ₦975/USD
United Bank for Africa (UBA):
-
- Buying: ₦991.83/USD
- Selling: ₦997.83/USD
Inquiries Regarding Aboki Dollar to Naira Black Market Exchange Rate Today:
Does Aboki Forex Engage in Currency Trading or Exchange?
Answer: No, Aboki Forex is not involved in the trading or exchange of currencies. It serves as an informational platform, providing details on currency exchange rates across different markets.
How Can I Exchange Currency?
Answer: To exchange currency, contact your local currency exchange market or a bank. They will provide current exchange rates and assist in the exchange process.
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Is the Accuracy of Black Market Exchange Rates Consistent Across All Markets?
Answer: No, Black Market Rates provided by Aboki Forex may not exhibit uniform accuracy across all markets. These rates serve as representative averages in local markets and can fluctuate between different locations due to the lack of regulation.
What Sets Apart CBN, I&E, and Dollar to naira today black market exchange rates.
Answer: CBN rates are established by the Nigerian central bank for official purposes. Investors’ and Exporters’ (I&E) rates are regulated for investment and foreign exchange transactions. Black Market Rates represent unofficial rates in the unregulated market, differing substantially from CBN and I&E rates.
Influential Factors in Dollar to naira today black market exchange rates depreciation:
The depreciation of the naira against the US dollar is influenced by multiple factors, including fluctuating oil prices, foreign exchange reserves, exchange rate policies, inflation, economic uncertainty, global economic factors, market speculation, balance of trade, government policies, and overall economic performance.
Understanding these factors provides insight into the complex dynamics shaping the exchange rate landscape in Nigeria.
In conclusion, the Dollar to Naira black market exchange rates today are a crucial economic indicator, fluctuating across different markets. Stay informed by visiting this website for daily updates on dollar to naira rates and the latest news in Nigeria
