Black Market: Exchange Rate Of Dollar To Naira Today – July 27, 2023
The Dollar To Naira current black market conversion rates in Nigeria today, 27th July 2023. It also comprises the Naira Black Market conversion rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates.
In the present digital era, the worldwide economy significantly depends on currency exchange rates. The United States Dollar (USD) to Nigerian Naira (NGN) represents a crucial currency pair that garners attention. Due to its influence on the Nigerian economy, the black market for USD to NGN dealings has attracted interest. We will examine the intricacies of the black market USD to NGN exchange rate, the variables that affect it, and the ramifications for individuals and the Nigerian economy overall.
Comprehending the USD to NGN Exchange Rate Today
The existing USD to NGN exchange rate acts as a crucial element of information for both individuals and businesses. To thoroughly understand the prevailing market trends, it is necessary to be aware of the buying and selling rates associated with the black market.
Buying Rate: 855 NGN The buying rate signifies the amount at which individuals can acquire the United States dollar from Aboki/Bureau De Change (BDC) in the black market. Currently, the buying rate is 825 Naira.
Selling Rate: 865 NGN Conversely, the selling rate denotes the amount at which individuals can sell the United States dollar to Aboki/Bureau De Change (BDC) in the black market. At present, the selling rate is 810 Naira.
Black Market Dollar to Naira Conversion Rate Table – 27th July 2023
For better clarity, here is a table illustrating the buying and selling rates for the US Dollar to Nigerian Naira exchange in the black market today:
CURRENCY (USD TO NGN)
BUYING RATE
SELLING RATE
US Dollar (USD)
N855
N865
Current Dollar to Naira CBN Exchange Rate
Beyond the black market, the Central Bank of Nigeria (CBN) also establishes an official exchange rate. As of 26th July 2023, the CBN’s buying and selling rate for the Dollar to Naira stands at N770.389. These rates generally differ from those seen in the black market.
Date
Currency
Buying(NGN)
Central(NGN)
Selling(NGN)
7/26/2023
US DOLLAR
743.997
744.497
744.997
7/26/2023
POUNDS STERLING
961.4673
962.1135
962.7596
7/26/2023
EURO
823.3071
823.8604
824.4137
7/26/2023
SWISS FRANC
862.1054
862.6848
863.2642
7/26/2023
YEN
5.2969
5.3004
5.304
7/26/2023
WAUA
1058.0542
1058.7652
1059.4763
7/26/2023
YUAN/RENMINBI
104.043
104.1134
104.1837
7/26/2023
RIYAL
198.3622
198.4955
198.6288
7/26/2023
SOUTH AFRICAN RAND
42.0611
42.0893
42.1176
7/26/2023
SDR
999.7832
1000.4551
1001.127
Note: The conversion rates specified in this article aim to offer accurate and timely information to our readers. NAIJATAB does not possess the authority to establish or determine forex rates.
Exchange Rates for Additional Currencies
Remaining updated regarding exchange rates for other principal currencies is equally important. The exchange rates for the British Pound (GBP) and the Euro (EUR) against the Nigerian Naira (NGN) as of 27th July 2023 are detailed below:
DATE
CURRENCY
SELLING RATE (NGN)
BUYING RATE (NGN)
27th July
US DOLLAR
777.6307
777.6307
27th July
POUNDS STERLING
1150
1135
27th July
EURO
850
840
Dollar to Naira Rate for the Last 7 Days
Date
Buy
Sell
July 27, 2023
855
865
July 26, 2023
845
855
July 25, 2023
833
845
July 24, 2023
833
845
July 23, 2023
829
838
July 22, 2023
829
838
July 21, 2023
829
838
Q1: What is the present black market conversion rate for the Dollar to Naira on 27th July 2023?
A: The buying rate is N805, and the selling rate is N810.
Q2: What is the official conversion rate established by the CBN for Dollar to Naira on 27th July 2023?
A: The CBN’s buying and selling rates for the Dollar to Naira stand at N777.6307.
Q3: Where can I access the official NAFEX rates?
A: You can find the official NAFEX rates on the FMDQOTC website, the official source for such rates.
Q4: What are the conversion rates for other currencies such as the British Pound and Euro against the Naira on 27th July 2023?
A: The selling rate for the Pound Sterling is N1150, with a buying rate of N1135. The Euro has a selling rate of N850 and a buying rate of N840.
