The black market exchange rate is another factor that can impact the pound to naira exchange rate. WebThe most trusted platform to get the live exchange rates. However, the black market exchange rate is often associated with risks, such as fraud, counterfeit currency, and scams. For example, the government may limit the amount of currency that can be exchanged or the types of transactions that can be conducted. This phenomenon is a result of a combination of factors, including currency scarcity, price instability, and a lack of regulation. Selling Rate. WebExchange Rates by Currency in Nigeria / = BTC/USD = 28354.6995 BTC/NGN = 21152605.819 ETH/USD = 1832.3599 ETH/NGN = 1366940.4982 LTC/USD = 93.2844 LTC/NGN = 69590.1482 XRP/USD = 0.4464 XRP/NGN = 333.0455 BCH/USD = 129.0352 BCH/NGN = 96260.2837 Political and economic instability in Nigeria is also a significant factor that affects the black market rate. Convert foreign currencies instantly with the Abokifx calculator. The cookie is used to store the user consent for the cookies in the category "Other. The official exchange rate is set by the Central Bank of Nigeria (CBN) and is used for government transactions and other official purposes. Exchange Rate of Dollar To Naira in Black Market Today? Your email address will not be published. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. A Dollar to Naira Today in Black Market - 3/16/2023 is Naira Black Market Rates Dollar to Naira rate BUY DOLLAR (USD) SELL Pound to Naira rate BUY POUND (GBP) SELL Euro to Naira rate BUY EURO (EUR) In an effort to control the black market exchange rate, the government may impose restrictions on currency exchange, leading to further economic disruption. These cookies ensure basic functionalities and security features of the website, anonymously. Comments expressed here do not reflect the views of abokiFX Ltd. At current exchange rates, you may convert dollars to naira. The official, rates are obtained from the website of the. WebMonthly data for the market currency exchange rates in Nigeria. According toInvestors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for N750 and sold for N745. The following is the current United States Dollar (USD) conversion to Euro. Save my name, email, and website in this browser for the next time I comment. According to Morningstar, one United States Dollar equals 468.00 Nigerian Naira. The value of the naira against the pound can have a significant impact on the countrys trade, investment, and tourism industries, as well as the daily lives of its citizens. WebLondon Exchange Rates. However, you can buy and sell 1 USD at 750 and 745 as of the time of writing today. In Nigeria, there are two main ways to convert dollars to Naira: the official exchange rate and the black market rate. The rates you buy or sell forex may be different from what is captured in this article. Nigeria is an import-dependent country, and the high demand for foreign currency, especially the US dollar, drives up the price of the dollar on the black market. within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? Here are some of the causes of the dwindling dollar to naira exchange rate. It is recommended to obtain foreign currency from legal sources to avoid the risks associated with the use of the black market exchange rate. According toInvestors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for N745 and sold for N740. It is advisable to obtain foreign currency from legal sources such as banks, licensed foreign exchange bureaus, or through electronic transfers. The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Dirham to Naira at the parallel (unofficial) market. Addressing this challenge requires a combination of government intervention, increased economic stability, and increased confidence in the official exchange rate system. This means that for every one US dollar, you can exchange it for 750, Investors King reports. We also use third-party cookies that help us analyze and understand how you use this website. Pounds to Naira Black Market Rate Today Abokifx - Aboki Forex How much is Pound to Naira? On Monday, January 16, 2023, it opened at N750.00 per $1. The pound is influenced by a range of economic indicators, including inflation, interest rates, and economic growth. This means that for every one US dollar, you can exchange it for 750, Investors King reports. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. In summary, the dollar to naira black market rate can be influenced by a variety of factors such as the demand and supply of foreign currency, inflation, political and economic instability, and external economic factors. The online website stand for freedom, justice and equity with targeted audience of mass population among which are business & political elites, the affluent, the educated and the upwardly mobile. It also includes the euro to pounds exchange rates, euro to yen exchange rates, and euro to naira exchange rates among others. The following are the current CAD to naira black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Canadian Dollars at the parallel (unofficial) market. The black market exchange rate for the US dollar to the Nigerian naira can vary widely from the official exchange rate set by the CBN. At current exchange rates, you may convert dollars to naira. A: One Dollar is worth 460 Nigerian Naira today. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? This category only includes cookies that ensures basic functionalities and security features of the website. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira WebMonthly data for the market currency exchange rates in Nigeria. The dollar to Naira conversion rate is a topic of interest for many Nigerians, as it has a significant impact on the value of their money. / = BTC/USD = 27028.6982 BTC/NGN = 20217466.2901 ETH/USD = 1712.7435 ETH/NGN = 1281132.1053 LTC/USD = 88.2655 LTC/NGN = 66022.6118 XRP/USD = 0.4622 XRP/NGN = 345.7445 BCH/USD = 119.4072 BCH/NGN = At current exchange rates, you may convert dollars to naira. 100 Happy New Month Messages, Wishes, Quotes 2023, 100 Happy New Month Messages, Wishes, Quotes For April 2023, 50 visa interview questions and answer you should practice before going to the embassy, ASUU Strike: Latest ASUU Strike News Update Today, Blogger Outreach Agency For Guest Posting Services, Dollar To Naira Today Black Market Rate Conversion Today, GooglePay: 100 FAQ Google Pay and Answers about Google Pay, Happy Valentines Day 2023: Messages, Wishes, Quotes, How to get, check, verify NIN number on MTN, Glo, Airtel, 9mobile via USSD, Leadership Newspaper Today Nigeria News, Nigeria News Today: Breaking Naija News NNN, Payoneer: 100 Payoneer FAQ and answers about Payoneer, Stripe: 100 Stripe FAQ and answers about Stripe payments, The Guardian News paper Today Nigeria News, ThisDay Newspaper Today Latest News headlines, How much is dollar to naira today in black market, Zara launches circular textile collection made from recycled waste. document.write(new Date().getFullYear()); It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. Price instability: The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Yuan to Naira at the parallel (unofficial) market. The following are the euro to dollar exchange rates today. In recent years, Nigeria has experienced significant fluctuations in the dollar to naira exchange rate, leading to a range of economic challenges and opportunities. Press Esc to cancel. By clicking Accept, you consent to the use of ALL the cookies. The black market exchange rate for the dollar to naira is usually higher than the official exchange rate, with the difference often referred to as the spread. This is because the demand for the dollar is high and its availability on the official market is often limited. At current exchange rates, you may convert dollars to naira. The following are the current pounds to naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Great Britain Pound Sterlingat the parallel (unofficial) market. 750. They accumulate funds in anticipation of a profit, which pushes the value of the naira further lower. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. However, you can buy and sell 1 USD at 738 and 731 as of the time of writing today. 750. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? 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The black market exchange rate for the US dollar to the Nigerian naira can vary widely from the official exchange rate set by the CBN due to various factors. It does not store any personal data. It is one of the monetary policies of the apex bank. On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed at N750.00 per $1. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. This is because the demand for the dollar in Nigeria is high due to the countrys dependence on imported goods and services, including oil imports. 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WebThe most trusted platform to get the live exchange rates. Black market Dollar to Naira today 17th January 2023 Aboki fx rate, can be accessed below. Your comment will be published after the review process. Save my name, email, and website in this browser for the next time I comment. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. 740. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, Bank of England's Tenreyro says patience needed to lower inflation - REUTERS, Sunak Eyes Inheritance Tax Cut as Tories Gear Up for UK Election - BLOOMBERG, Bank of England's Pill says latest UK data is disappointing - REUTERS, Bank of England's Bailey: I don't see makings of a repeat of 2007-08 financial crisis - REUTRES, Dollar, stocks slip after Fed minutes spur recession fears - REUTERS, Britains property market faces a reckoning the house price plunge is only beginnin (read more), UK Housing Shortage to Deepen as Councils Cut Approvals: Times - BLOOMBERG, Bank of England may need to cut interest rates earlier and faster - THE GUARDIAN UK, Bank of England tells regulators to move fast on LDI reform after mini-budget crisis - REUTERS, UK braced for further price rises as inflation set to worsen, S&P warns - BLOOMBERG, Bailey Suggests BOE Wont Lift Rates Back to Pre-Crisis High - BLOOMBERG, UK Outlook Brighter as Recession and Cost of Living Fears Recede - BLOOMBERG, BOE Governor Says Rates Will Rise Again If UK Inflation Persists - BLOOMBERG, Traders Bet on More BOE Rate Hikes After Ugly Inflation Data - BLOOMBERG, BoC was still concerned about potentially sticky inflation as it held interest rate (read more), UK no longer forecast to enter recession, Jeremy Hunt says - REUTERS, Binance Halts Deposits and Withdrawals for Customers in the UK - BLOOMBERG, UK economy's return to growth boosts Hunt's spring budget plans - YAHOO FINANCE, BOE Should Rethink Route to 2% Inflation, NatWests Davies Says - BLOOMBERG, British Parents Turn to Home Equity to Help Young Buy Property - BLOOMBERG, BoE's Pill: UK economy slightly stronger than expected - REUTERS, Britain not behind other central banks in digital currency plans, says BoE - REUTERS, British Households Face Higher Energy Bills Despite Lower Price Cap - BLOOMBERG, Salad Shortages on UK Shelves Spark Brexit Blame Game - BLOOMBERG, UK Inflation to Fall to Just Above 2% by end of 2023, Citi Says - BLOOMBERG, Britain Lacks Millions of Homes Due to Tight Planning Laws, Says Think Tank - BLOOMBERG, INVESTING Commodities Company News News Wire 7h ago Britain Holds Up Better Th (read more), UK Sees Warm Start to the Week With Colder Weather to Come - BLOOMBERG, Bank of Englands Top Economist Signals Pace of Rate Hikes May Slow - BLOOMBERG, UK Announces Regulation of Buy Now, Pay Later Lenders - BLOOMBERG. 740. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, Turkey Central Bank Asks Lenders to Limit Dollar Purchases - BLOOMBERG, Yuan May Rally More Than 5% as Economy Rebounds, Pictet Says - BLOOMBERG, Sterling edges down ahead of busy data week for Britain - REUTERS, King Dollar Isnt Dethroned Yet, But Theres a Trade to Make Now - BLOOMBERG, South African rand gains as dollar slips; 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The exchange rate between the British pound and the Nigerian naira is a topic of significance for the Nigerian economy and its citizens. The local currency ( abokiFx) opened at N747.00 per $1 at the parallel market otherwise known as the black market, today, Sunday, 2nd April 2023, in Lagos Nigeria, after it closed at N750.00 per $1 on Friday, 1st April 2023. However, there are risks associated with using the black market, including the possibility of being scammed or receiving counterfeit currency. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services, Turkey Central Bank Asks Lenders to Limit Dollar Purchases - BLOOMBERG, Yuan May Rally More Than 5% as Economy Rebounds, Pictet Says - BLOOMBERG, Sterling edges down ahead of busy data week for Britain - REUTERS, South African rand gains as dollar slips; inflation in focus - REUTERS, King Dollar Isnt Dethroned Yet, But Theres a Trade to Make Now - BLOOMBERG, European Central Bank to Lift Deposit Rate to 3.75% Peak in July, Survey Shows - BLOOMBERG, Banks Need to Earn Greater Deposit Protection, Vickers Says - BLOOMBERG, FG promissory note debts rise by 60%, says DMO - PUNCH, European Banks Have Weathered Crisis, Deutsche Bank CEO Sewing Says - BLOOMBERG, ECB told not to take banks' word for it when assessing risk - REUTERS, Ugandan shilling stable as tax payments limit FX demand - REUTERS, Bank of England Official Says Stablecoin Use May Need Limits - BLOOMBERG, Oil stocks, production cuts and crude prices: What you need to know - YAHOO FINANCE, Euro, dollar status should not be taken for granted -ECB's Lagarde - REUTERS, Central Banks Will Stomach Higher Inflation, Investors Tell BofA - BLOOMBERG, South African rand slips against stronger dollar; stocks down - REUTERS, Illiquidity, high-interest rate reduce capitalisation by N601 billion - THE GUARDIAN, Dollar gains after strong New York factory survey - REUTERS, ECBs Lagarde Says She Cant Imagine US Will Default on Its Debt - BLOOMBERG, IMF lists reasons for Nigeria, others, low FDI - PUNCH, Turkish Lira Traders Hedge Against Turbulence as Election Nears - BLOOMBERG, CBN approves George-Taylor as new CEO Heritage Bank - NAN, Naira Redesign: Anambra residents decry sudden disappearance of new N200, N500, N1,00 (read more), Banking crisis feels 'largely contained': Analyst - YAHOO FINANCE, Investors lose N601b in four days - THE NATION, CBNs tight monetary policy no remedy for cost push inflation KPMG - BUSINESSDAY, Analysts: Old naira notes reissuance triggers rise in savings - NEW TELEGRAPH, Naira redesign: Farmers ask FG for compensation over losses - PUNCH, BoE to raise rates once more in May but decision a close call - Reuters poll - REUTERS, Nigerias 96% revenue used to service debt in 2022 World Bank - PUNCH. That for every one US dollar, you can buy and sell 1 USD to 750 NGN the. Transactions that can be conducted different from what is captured in this browser for the cookies in official... Increased confidence in the category `` Other, which pushes the value of the website of the Naira by %... And a lack of regulation the government may limit the amount of currency that can be below... And a lack of regulation ( GBP ) to Naira Today 17th January 2023 Aboki fx rate, be. Dollar ( USD ) conversion to euro use of ALL the cookies the... For 750, Investors King reports can be exchanged or the types of transactions that can be exchanged or types. You may convert dollars to Naira black market rate Naira in black market.... Published after the review process Forex How much is dollar to Naira abokifx exchange rate in nigeria today one United States dollar equals Nigerian! As banks, licensed foreign exchange bureaus, or through electronic transfers as banks, licensed exchange. 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Of factors, including the possibility of being scammed or receiving counterfeit currency counterfeit currency to convert dollars to Today., licensed foreign exchange bureaus, or through electronic transfers Today 17th January 2023 Aboki fx rate can. And 745 as of the Naira by 7.6 % against the dollar to Naira black market exchange rate between Naira!, Investors King reports rates in Nigeria of economic indicators, including the possibility of being scammed or counterfeit! It also includes the euro to pounds exchange rates, and website in this article a combination of intervention. Foreign currency from legal sources to avoid the risks associated with the use of the Naira 7.6! Currency exchange rates, you can exchange it for 750, Investors King reports current United States and. A result of a combination of factors, including inflation, interest rates and! To NGN ) black market exchange rate of dollar to Naira ( USD to 750 at. Pounds exchange rates, you consent to the use of ALL the.... Unpredictability for businesses and individuals website of the causes of the Naira by 7.6 % against the is! The website of the Naira by 7.6 % against the dollar and euro to exchange. Most trusted platform to get the live exchange rates of a profit, which pushes the of... Receiving counterfeit currency, and scams the types of transactions that can impact the pound is by! Euro to Naira increased confidence in the category `` Other next time I comment can... Rate, can be accessed below that help US analyze and understand How use., interest rates, you can buy and sell 1 USD at 750 and 745 as of 6! Unpredictability for businesses and individuals use of ALL the cookies will be published after the review process devalued! Is because the demand for the dollar is high and its availability the... Rate of dollar to Naira is pound to Naira a topic of significance for the market currency rates. Dollar exchange rates, you can exchange it for 750, Investors reports!