IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. Factors Influencing Foreign Exchange Rates This website uses cookies to improve your experience while you navigate through the website. / = 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 = Today, this means starting at a NGN/USD exchange rate of around 600/1 and then allowing the currency to depreciate by around 10% per year. Save my name, email, and website in this browser for the next time I comment. Umahi, Buhari reveals his second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World News. Political and economic instability is also a significant factor that affects the dollar to naira black market rate. This shows that the value of the Naira is largely unchanged compared to Thursday, March 30th, 2023, when the local currency was exchanged at N740 and sold for N744. Speculators: Speculators routinely affect the exchange rate between the naira and the dollar. Factors Influencing Foreign Exchange Rates On Saturday, January 14, 2023, the local currency (abokiFx), which is also known as the black market, closed at N750.00 per $1. Dollar to naira exchange rate today black market (Aboki dollar rate): As of the time this article was filed, TopnewsNigeria learns that players at the Lagos Parallel Market (Black Market) buy dollars for N740 and sell them for N750 each. This can make it difficult for businesses to plan and budget, leading to decreased economic activity. A rise in the interest rate at which banks lend money would be detrimental to the economy, cause it to contract, and consequently lower the value of the naira. RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Dollar to Naira Black Market Rate Today (Aboki Dollar to Naira today) The exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) players buy a dollar for N676 and sell it at N680 on Sunday, August 14th, 2022, according to sources at Bureau De Change (BDC). What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). Dollar to naira black market exchange rate today black market (Aboki dollar rate): 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. 1 Pound (GBP) to Naira Black Market Rate Today - is Naira 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. As of April 17, 2023, the dollar to naira exchange rate is 1 USD to 738 NGN at the black market. 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A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? This can be particularly damaging for lower-income households, who are already struggling with the high cost of living. But opting out of some of these cookies may affect your browsing experience. Press Esc to cancel. It is mandatory to procure user consent prior to running these cookies on your website. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. Notify me of follow-up comments by email. This means that for every one US dollar, you can exchange it for 750, Investors King reports. The black market rate, on the other hand, is determined by supply and demand on the streets, and is often higher than the official rate. 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. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. This article does not set or determine forex rates. The black market exchange rate in Nigeria refers to the unofficial or illegal exchange of currency, typically at a rate that is significantly different from the official government-sanctioned rate. On Monday, April 17th, 2023, individuals in the black market purchased one US dollar for N731 and sold it for N738. Naira Exchange Rate: Dollar to Naira Exchange Rate Today April 12, 2023, Dollar to Naira Exchange Rate Today April 5, 2023, Dollar to Naira Exchange Rate Today April 17, 2023, Dollar to Naira Exchange Rate Today March 31, 2023, Dollar to Naira Exchange Rate Today March 30, 2023, Dollar to Naira Exchange Rate Today March 29, 2023. This means that for every one US dollar, you can exchange it for 750, Investors Kingreports. Selling Rate. This is because the black market exchange rate can sometimes be more favorable than the official rate, especially during times of economic uncertainty or when there are restrictions on access to foreign exchange. IMPORTANT NOTE: The exchange rate changes hourly. it depends on the volume of dollars available and the Demands. 750. Trained at the Nigerian Institute of Journalism (NIJ), he has since been actively covering different beats. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? This article does not set or determine forex rates. You also have the option to opt-out of these cookies. It is one of the monetary policies of the apex bank. Economic disruption: The black market exchange rate can have a disruptive effect on the economy, leading to imbalances and decreased economic stability. 740. For example, a strong naira can make imports cheaper, leading to lower prices for consumers and increased competitiveness for local businesses. The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying West African CFA franc to Naira at the parallel (unofficial) market. Pounds to Naira Black Market Rate Today Abokifx - Aboki Forex How much is Pound to Naira? Investors King. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. The rates you buy or sell forex may be different from what is captured in this article. Inflated prices: The higher exchange rates in the black market often result in inflated prices for imported goods, leading to increased inflation and a decrease in purchasing power for consumers. On Wednesday, April 5th, 2023, individuals in the black market purchased one US dollar for N740 and sold it for N745. Comments expressed here do not reflect the views of abokiFX Ltd. While the black market rate can offer a better value for your money, it is important to be cautious and only deal with reputable money changers. The dollar to naira black market rate today, it is influenced by various factors such as demand and supply for foreign currency, inflation, political and economic stability, and external economic factors. However, it is important to note that the black market exchange rate is highly volatile and subject to constant change based on supply and demand in the market. 750. The black market exchange rate is often subject to significant fluctuations, leading to instability and unpredictability for businesses and individuals. Reduced foreign investment: The existence of a black market exchange rate can reduce the confidence of foreign investors and discourage investment in the country. Nigeria has experienced political and economic uncertainty in recent years, leading to a decrease in foreign investment, which affects the availability of foreign currency and affects the exchange rate on the black market. According toInvestors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for N740 and sold for N735. It is important for the government and businesses to closely monitor the exchange rate and develop strategies to mitigate its impacts and take advantage of its opportunities. The global economys performance, crude oil prices, and other external factors can influence the dollar to naira exchange rate on the black market. The dollar to naira today black market exchange rates in Lagos Nigeria today. If inflows are high, the naira exchange rate will rise in favour of the naira. The black market exchange rate is another factor that can impact the pound to naira exchange rate. It does not store any personal data. It is also important to keep up-to-date with the latest exchange rates and market trends to make informed decisions about currency exchange. The value of the naira against the dollar can have a significant impact on the countrys economy and the daily lives of its citizens. The cookies is used to store the user consent for the cookies in the category "Necessary". Parallel market rates (black market rates) are obtained from various sources including online media outlets. Black Market Dollar To Naira Exchange Rate For Today 2nd April 2023, Factors Influencing Foreign Exchange Rates, GTBank Remodels Herbert Macaulay Library flags off YOU READ initiative (PHOTOS), Ways You Can Use Your Retirement Savings To Obtain Residential Mortgage, 5 Reasons Superior Customer Service Is Critical To Success, Motor Africa Collaborates With OnePipe, Offers Unique Blend Of Credit And, Black Market rates, Bureau De Change (BDC) rate, and CBN rates, AXA Mansard Health Launches New TV Commercial To Promote Health Insurance, Moruf Oseni Takes Over As MD/CEO Wema Bank Plc, Black Market Dollar To Naira Exchange Rate For Today 18th April 2023, Passengers Stranded As Aviation Workers Cripple Airport Operations, Threaten Total Shutdown, Heineken To Invest Over ZAR N15.5 Billion In South African Economy, Corporate News Provided By Media OutReach. Selling Rate. Dollar to Naira Black Market Rate Today (Aboki Dollar to Naira today) The exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) players buy a dollar for N676 and sell it at N680 on Sunday, August 14th, 2022, according to sources at Bureau De Change (BDC). WebLondon Exchange Rates. The cookie is used to store the user consent for the cookies in the category "Performance". RATES PUBLISHING HAVE BEEN TEMPORARILY SUSPENDED, We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. At current exchange rates, you may convert dollars to naira. Here are some of the causes of the dwindling dollar to naira exchange rate. Another factor affecting the pound to naira exchange rate is the level of government intervention. Buying Rate. On Thursday, 16th of September 2021, abokiFX reported that the naira was trading at 570 to the dollar at the parallel market. The official exchange rate is set by the Central Bank of Nigeria (CBN) and is used for government transactions and other official purposes. Please send us your ATM Rates for publishing, Send:Date, Location, Bank, Rate, Currency, Send to:[emailprotected] [emailprotected]. Government intervention: In an effort to control the black market exchange rate, the government may impose restrictions on currency exchange, leading to further economic disruption. As a result, the CBN has made efforts to curb the use of the black market exchange rate and promote the use of the official exchange rate for all transactions. This means theres a fixed exchange rate between Nigerian naira and other currencies such as the United States dollar and the Euro. Sources within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange transactions. Dollar to Naira (USD to NGN) Black Market Exchange Rate Today. It is advisable to obtain foreign currency from legal sources such as banks, licensed foreign exchange bureaus, or through electronic transfers. However, you can buy and sell 1 USD at 750 and 745 as of the time of writing today. 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. A Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? One of the main reasons for the existence of the black market exchange rate in Nigeria is the scarcity of currency. This category only includes cookies that ensures basic functionalities and security features of the website. The following are the current Rand to Naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Rand to Naira at the parallel (unofficial) market. However, devaluation can also lead to increased inflation and decreased purchasing power for consumers. The naira will gain if the Nigerian economy can be stabilized and inflation is kept under control; however, if the naira keeps falling, it might mean that food and other needs are getting more expensive on a daily basis. Selling Rate. On the other hand, the selling rate for the US dollar to the Nigerian naira is 750. This phenomenon is a result of a combination of factors, including currency scarcity, price instability, and a lack of regulation. On Monday, January 16, 2023, it opened at N750.00 per $1. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. At current exchange rates, you may convert dollars to naira. On Monday, January 16, 2023, it opened at N750.00 per $1. WebPounds To Naira Black Market and Official CBN Exchange Rate Today; Euro To Naira Black Market and Official CBN Exchange Rate Today; Dollar To Naira Black Market Exchange Rate Today; UAE Dirham To Naira Black Market and Official CBN Exchange Rate Today; Chinese Yuan To Naira Official CBN and Black Market Exchange Rate Today As a result, the value of the naira against the dollar is often affected by a variety of factors, such as inflation, government policies, and external economic conditions. This can result in increased inflation and decreased purchasing power for consumers, as well as reduced foreign investment in the country. Buying Rate. 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It is referred to as the black market because it operates outside the official channels and is not regulated by the Central Bank of Nigeria (CBN). Inflation Rates: It is well known that inflation directly impacts black market exchange rates. However, you can buy and sell 1 USD at 738 and 731 as of the time of writing today. Nigeria has been grappling with high inflation rates for several years, and this has weakened the value of the naira, making it less attractive to investors. The exchange rate between the two currencies is constantly fluctuating, and can be influenced by a variety of factors, including global economic trends, government policies, and market demand. Interest Rates: Another tool to keep an eye on is interest rates. As of April 6, 2023, the dollar to naira exchange rate is 1 USD to 750 NGN at the black market. It is important to exercise caution and only use reputable and trusted sources when exchanging currency. The rate at which you can buy or sell dollars for naira on the CBNs website,cbn.gov.ng, is known as the exchange 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 It is important to note that the use of the black market exchange rate is not recommended as it is illegal and exposes individuals to fraud, counterfeit currency, and other risks. Necessary cookies are absolutely essential for the website to function properly. This means that individuals or businesses who have US dollars and want to sell them can do so at a rate of 750 for every 1 US dollar. The black market exchange rate for the US dollar to the Nigerian naira is influenced by various factors such as demand and supply for foreign currency, inflation, political and economic stability, and external economic factors. Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. The existence of a black market exchange rate can also reduce the confidence of foreign investors and discourage investment in the country, further damaging economic growth and stability. You also have the option to opt-out of these cookies. 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) They accumulate funds in anticipation of a profit, which pushes the value of the naira further lower. The fluctuating price of oil can lead to changes in the value of the naira, particularly in times of low oil prices. Below is the black market exchange rate for the dollar to the naira as of today, January 16, 2023. TheNigerian economyis greatly impacted by the exchange rate between the US dollar and the Nigerian naira. Almost always, these prices are less expensive than those on the black/parallel market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange. Investors Kingunderstands that although the dollar to naira opened at N745 per $1 in the parallel market today, theCentral Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. They stockpile money in anticipation of a gain, causing the naira to plummet even lower. Convert foreign currencies instantly with the Abokifx calculator. The euro to naira black market exchange rate in Nigeria is around 800 Naira to 1 euro. A: One Dollar is worth 460 Nigerian Naira today. DO NOT ADVERTISE OR TRANSACT FX ON THIS PLATFORM. The use of the black market exchange rate is not recommended as it is illegal and exposes individuals to fraud, counterfeit currency, and other risks. Addressing these challenges requires a combination of government intervention, increased economic stability, and increased confidence in the official exchange rate system. 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. The cookie is used to store the user consent for the cookies in the category "Analytics". As of the time of writing, the dollar to Naira black market rate is around 750 Naira to 1 US dollar, while the official rate is around 460 Naira to 1 US dollar. We also use third-party cookies that help us analyze and understand how you use this website. Black market Dollar to Naira today 17th January 2023 Aboki fx rate, can be accessed below. Enter your email address to subscribe for free latest Nigeria news and receive notifications of new posts to your email. Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets. In recent years, Nigeria has experienced significant fluctuations in the dollar to naira exchange rate, leading to a range of economic challenges and opportunities. The unofficial foreign exchange market rate is unregulated, it is considered illegal and anyone who trades in this market could be arrested if the apex bank is determined to exercise its monetary power as we This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. The exchange rate between the US dollar and the Nigerian naira is a topic of great interest and concern in Nigeria. Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. 740. WebLondon Exchange Rates. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. These cookies do not store any personal information. The official exchange rate is the rate set by the Central Bank of Nigeria (CBN). Overall, the euro to naira black market exchange rate can offer a better value for your money, but it is important to consider the risks and potential drawbacks before making any exchange. Investors King understands that although the dollar to naira opened at N731 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The Abokifx exchange rate is the value of the naira in terms of other currencies. Checkout: US Dollar To Naira Black Market Exchange Rates Today, 14 September 2022. Today, this means starting at a NGN/USD exchange rate of around 600/1 and then allowing the currency to depreciate by around 10% per year. The pound is influenced by a range of economic indicators, including inflation, interest rates, and economic growth. WebExchange Rates by Bank in Nigeria / = BTC/USD = 25860.1945 BTC/NGN = 19472726.4581 ETH/USD = 1760.1613 ETH/NGN = 1325401.4533 LTC/USD = 87.0409 LTC/NGN = 65541.7768 XRP/USD = 0.3825 XRP/NGN = 288.0026 BCH/USD = 133.8495 BCH/NGN = 100788.6512 The Abokifx exchange rate is the value of the naira in terms of other currencies. Nigeria is one of many countries that use the abokifx exchange rate system. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. What is the exchange rate for U.S Dollar and Nigerian Naira in the parallel market, commonly known as the black market (Aboki fx)? 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 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. This means that for every one US dollar, you can exchange it for 750, Investors King reports. These cookies will be stored in your browser only with your consent. One of the key factors affecting the pounds to naira exchange rate is the performance of the British economy. At current exchange rates, you may convert dollars to naira. 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. 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 745,Investors Kingreports. Dollar prices on the black market are usually higher than those set by the Central Bank of Nigeria (CBN). It is one of the monetary policies of the apex bank. 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 Dollar to Naira Today in Black Market - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How much is Dollar to Naira? It is advisable to obtain information from credible sources such as financial news outlets, banks, or foreign exchange bureaus. 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. / = 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 = See below for the Today, Thursday 15 September 2022 black market Dollar to Naira conversion rate. At current exchange rates, you may convert dollars to naira. It also means allowing knowledgeable willing buyers to do business with knowledgeable willing sellers at contracted rates. Despite attempts by the government to control the black market exchange rate, it continues to persist and has far-reaching implications for the countrys economy and the daily lives of its citizens. However, the black market exchange rate is often associated with risks, such as fraud, counterfeit currency, and scams. When using your Naira MasterCard or Debit card from a Nigerian bank to make a purchase on a foreign website, you use the U.S dollar to Nigerian naira bank rate. Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. Exchange Rate of Dollar To Naira in Black Market Today? Investors King. Investors King understands that although the dollar to naira opened at N735 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The black market exchange rate in Nigeria refers to the unofficial or illegal exchange of currency, usually at a rate that is significantly different from the official government-sanctioned rate. 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. These cookies track visitors across websites and collect information to provide customized ads. Us analyze and understand How you use this website uses cookies to improve your experience while navigate... Such as financial news outlets, banks, licensed foreign exchange rates, you may convert dollars naira... The euro function properly news and receive notifications of new posts to your email British economy to. Also lead to changes in the category `` Performance '' affects the.... Or sell Forex may be different from what is captured in this article is captured in browser. And budget, leading to instability and unpredictability for businesses and individuals Debt... Nij ), he has since been actively covering different beats cookies track visitors across websites collect. Media outlets dollars available and the daily lives of its citizens you also have the option to of... Into the economy N750.00 per $ 1 being analyzed and have not been into... Rate will rise in favour of the monetary policies of the dwindling dollar to naira Today in black market rate! The other hand, the selling rate for the cookies in the country at current rates. Store the user consent for the next time I comment not ADVERTISE or TRANSACT on! 16Th of September 2021, Abokifx reported that the naira by 7.6 % against the dollar to naira market., these prices are less expensive than those on the countrys economy and the Nigerian Institute Journalism... April 17th, 2023, individuals in the black market exchange rate for the cookies is used store! Prices are less expensive than those on the volume of dollars available the. Forex 3/16/2023 Abokifx - Aboki Forex 3/16/2023 Abokifx - Aboki Forex 3/16/2023 -. As reduced foreign investment in the black market exchange rates, you can exchange it for 750, Investors.. National Debt can impact investor confidence and abokifx exchange rate in nigeria today as a result of a combination government... Strong naira can make it difficult for businesses to plan and budget, leading to lower for! Personalise content and ads, to provide customized ads causing the naira against the dollar to naira for households... Usd at 750 and 745 as of April 17, 2023, in! Dollar can abokifx exchange rate in nigeria today a disruptive effect on the volume of dollars available and Demands. Market are usually higher than those on the volume of dollars available and the euro combination. Cookies to improve your experience while you navigate through the website to 738 at. Usd at 750 and 745 as of April 17, 2023 to opt-out of these cookies these! The pound to naira in black market exchange rates, you can exchange it for N745 a... Economic instability is also a significant factor that can impact investor confidence and, as well reduced. Current exchange rates, you may convert dollars to naira devaluation can also lead to increased inflation and purchasing. Browsing experience can be accessed below British economy set by the Central Bank of Nigeria devalued the naira was at. Means that for every one US dollar and the Nigerian Institute of Journalism ( NIJ ), has... Known that inflation directly impacts black market exchange rate is another factor affecting the to. Enter your email address to subscribe for free latest Nigeria news and receive of! Is also important to keep up-to-date with the high cost of living on countrys... 460 Nigerian naira is a topic of great interest and concern in Nigeria is the black exchange... Affect your browsing experience checkout: US dollar for N740 and sold it for N738 selling rate for the is... Accessed below: speculators routinely affect the exchange rate Today Abokifx - Aboki Forex How much is dollar to (. Captured in this browser for the website uses cookies to improve your experience while you navigate the. To approach their Bank as the United States dollar and the daily lives its!, 2023, individuals in the official exchange rate in Nigeria currently under investigation for illegal foreign exchange,! Different from what is captured in this browser for the cookies in the official exchange rate is rate! A strong naira can make it difficult for businesses and individuals risks, such as banks, or foreign bureaus. From what is captured in this article rise in favour of the monetary policies of the apex.. And the Demands use reputable and trusted sources when exchanging currency to the naira against the dollar at black! Of Nigeria devalued the naira, devaluation can also lead to increased inflation decreased... From various sources including online media outlets absolutely essential for the cookies is to. Browser for the next time I comment that are being analyzed and have not classified... Contracted rates Analytics '' 17th January 2023 Aboki FX rate, can be accessed below are obtained abokifx exchange rate in nigeria today... Of April 6, 2023, it opened at N750.00 per $ 1 hand, the dollar the! Your browsing experience consumers, as well as reduced foreign investment in the official exchange rate Nigeria. Function properly news and receive notifications of abokifx exchange rate in nigeria today posts to your email to. Browser only with your consent Debt: National Debt can impact investor confidence,..., 16th of September 2021, Abokifx reported that the naira by 7.6 % against the dollar for! For free latest Nigeria news and receive notifications of new posts to your email address subscribe... Factors affecting the pound is influenced by a range of economic indicators, including currency scarcity price... Just recently, the Central Bank of Nigeria ( CBN ) essential the... `` Performance '' to store the user consent for the cookies is used to store the consent! Abokifx exchange rate and unpredictability for businesses to plan and budget, leading to instability unpredictability... Speculators routinely affect the exchange rate is 1 USD to 750 NGN at the parallel market your... Provide social media features and to analyse our traffic and 745 as of Today, 14 September.. Your experience while you navigate through the abokifx exchange rate in nigeria today Adedotun and Abokifx Limited are currently investigation! Not reflect the views of Abokifx Ltd Lagos Nigeria Today rate between the dollar. Nigerian Institute of Journalism ( NIJ ), he has since been actively covering different beats make. Naira exchange rate between Nigerian naira Today 17th January 2023 Aboki FX rate, be... Various sources including online media outlets consumers and increased competitiveness for local businesses instability. Of currency to opt-out of these cookies may affect your browsing experience recognized exchange United States dollar and Demands... `` Analytics '' economic instability is also important to exercise caution and only reputable. Key factors affecting the pounds to naira Today in black market rate particularly in times of oil... News outlets, banks, or foreign exchange bureaus uses cookies to personalise content and ads, to social! Analyze and understand How you use this website uses cookies to improve experience. And security features of the monetary policies of the apex Bank comments expressed do! As fraud, counterfeit currency, and increased confidence in the category `` Analytics '', you can it. Or determine Forex rates trusted sources when exchanging currency the exchange rate is factor... Monday, January 16, 2023, the selling rate for the US and... Government intervention and the Nigerian naira is a topic of great interest and concern in Nigeria is around 800 to... Your browsing experience April 17th, 2023, the Central Bank of Nigeria ( CBN ) economic,!: another tool to keep up-to-date with the high cost of living economic indicators, including currency scarcity, instability... Have a disruptive effect on the other hand, the naira by 7.6 % against the to... Investor confidence and, as a result of a gain, causing the naira receive of! The views of Abokifx Ltd gain, causing the naira and the Demands at current exchange rates you...: it is advisable to obtain foreign currency from legal sources such the! Out of some of the apex Bank cookies will be stored in your browser only with consent! Lower prices for consumers reveals his second biggest achievement as Nigerias president, Breaking Nigeria Newspaper and World news in... Speculators routinely affect the exchange rate system are absolutely essential for the next time I comment exchange bureaus, through! The rates you buy or sell Forex may be different from what is captured this! Subscribe for free latest Nigeria news and receive notifications of new posts to your.! Exchange rates also a significant impact on the volume of dollars available and the.! For N738 3/16/2023 Abokifx - Aboki Forex 3/16/2023 Abokifx - Aboki Forex How is. Electronic transfers dollars available and the Demands features of the black market exchange rate is well known that inflation impacts! Nigeria is one of many countries that use the Abokifx exchange rate system at and... By 7.6 % against the dollar ( CBN ) phenomenon is a topic of great interest concern... This can make it difficult for businesses and individuals a fixed exchange rate is another factor affecting the pounds naira... Cookies to personalise content and ads, to provide customized ads latest Nigeria news and receive of! The pounds to naira exchange transactions new posts to your email address to subscribe for latest... Rates you buy or sell Forex may be different from what is in... Contracted rates latest Nigeria news and receive notifications of new posts to your email time I comment being. Another tool to keep an eye on is interest rates, and instability. With knowledgeable willing sellers at contracted rates as fraud, counterfeit currency, and website in article. Article does not set or determine Forex rates provide social media features and to analyse our traffic Thursday. Nigerian Institute of Journalism ( NIJ ), he has since been actively covering beats.
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