What is the Dollar to Naira Exchange rate in the black market and aboki fx as of today, 27th July 2023? Check today’s USD to Naira exchange rate. You can convert your USD to Naira using these figures, or you can exchange your dollar for Naira at the latest black market or parallel market rate.
Nigerians commonly prefer exchanging foreign currency, especially USD to Naira, on the black market as the conversion rate is considerably higher than what banks provide.
On this page, you can find all the information and the current rate for dollar to Naira, both the CBN and the black market rate. –
What is the Dollar to Naira and Official Exchange Rate today, 27th July 2023?
What’s the exchange rate of a dollar to naira today in the Nigerian black market?
It is important to note that the Central Bank of Nigeria (CBN) does not acknowledge the parallel market (black market) and has advised individuals interested in Forex to consult their respective banks prior to proceeding.
The parallel market rate (black market rate) consistently varies from the CBN rate. The exchange rate between the USD and the Nigerian Naira greatly influences the Nigerian economy.
As the Naira depreciates, inflation engulfs the economy, typically affecting the citizens. The Central Bank has indicated that the Nigerian economy requires a significant revival and has encouraged Nigerians to strive towards this aim, such as by boosting exports.
The black market rate for dollars is often superior to that of the Central Bank of Nigeria (CBN). The CBN exchange rate is the rate at which you can acquire or vend dollars for Naira on the CBN dollar-to-naira webpage.
The dollar-to-naira bank rate applies when you purchase items from an international website using your Naira MasterCard or Debit card from a Nigerian bank. These rates are usually more economical than those in the black/parallel market.
What is the Dollar to Naira Black Market Rate Today, 27th July 2023
Dollar to naira black market exchange rate today – black market dollar to naira conversion rate
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Selling Rate
₦ 865
Buying Rate
₦ 855
U.S. DOLLAR / NIGERIAN NAIRA USDNGN official chart for the last six months
Converter dollar to naira
Euro to Naira Black Market
Today’s Euro to Naira black market rate: This represents the rate at which Aboki/Bureau De Change (BDC) are transacting for the European currency (Euro) presently in Abuja, Kano, and Lagos. There may be slight differences in the various parallel (unofficial) markets.
Black market rate dollar to naira
Euro to Naira (EUR to NGN)
Exchange Rate Today
Buying Rate
₦760
Selling Rate
₦780
Pounds to Nigeria Naira Black Market
Today’s Pounds to Naira black market rate: this rate represents what Aboki/Bureau De Change (BDC) are selling and acquiring. The Great British Pound currency (Pounds) is currently found in Abuja, Kano, and Lagos. There may be minor discrepancies in the distinct parallel (unofficial) markets.
Pounds to Naira (GBP to NGN)
Exchange Rate Today
Buying Rate
₦1135
Selling Rate
₦1150
Rand to Naira
Today’s Rand to Naira black market rate is what Aboki/Bureau De Change (BDC) are selling and acquiring. The Rand is currently available in Abuja, Kano, and Lagos. There might be slight discrepancies in the different parallel (unofficial) markets.
Rand to Naira (ZAR to NGN)
Black Market Exchange Rate Today
Buying Rate
₦31
Selling Rate
₦38
Dirham to Naira
Today’s Dirham to Naira black market rate is what Aboki/Bureau De Change (BDC) are selling and acquiring. The Dirham is presently available in Abuja, Kano, and Lagos. There might be slight variations in the distinct parallel (unofficial) markets.
Dirham to Naira (AED to NGN)
Black Market Exchange Rate Today
Buying Rate
₦155
Selling Rate
₦165
Yuan to Naira
Today’s Yuan to Naira black market rate is what Aboki/Bureau De Change (BDC) are selling and acquiring. The Chinese Yuan is currently in Abuja, Kano, and Lagos. There might be slight variations in the various parallel (unofficial) markets.
Yuan to Naira (CNY to NGN)
Black Market Exchange Rate Today
Buying Rate
₦80
Selling Rate
₦90
Ghanaian Cedi to Naira
Today’s Ghanaian Cedis to Naira black market rate is what Aboki/Bureau De Change (BDC) are selling and buying. The Ghanaian Cedis are currently in Abuja, Kano, and Lagos. There might be slight variations in the distinct parallel (unofficial) markets.
Cedi to Naira (GHS to NGN)
Black Market Exchange Rate Today
Buying Rate
₦65
Selling Rate
₦75
CAD to Naira Black Market – Canadian dollar to naira
Today’s CAD to Naira black market rate represents what Aboki/Bureau De Change (BDC) are selling and acquiring. The Canadian Dollar currency (CAD) is currently in Abuja, Kano, and Lagos. There may be slight differences in the distinct parallel (unofficial) markets.
CAD to Naira (CAD to NGN)
Exchange Rate Today
Buying Rate
₦ 540
Selling Rate
₦ 560
CBN Official Naira Exchange Rates
The exchange rate between the Naira and the US dollar, based on data displayed
on the Central Bank of Nigeria (CBN) Currency Exchange Rate where forex is sanctioned.
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
What is $1 to naira in the parallel market?
1 dollar to naira parallel market – what is the naira to dollar rate
$1 equals ₦ 865
What is the worth of $100 in the black market today?
$100 equals ₦ 86,500
What is the value of $100 US in Nigeria?
$100 equals ₦ 86,500
What is $1 (USD) to naira in the parallel market?
$1 equals ₦ 865
What is the value of $100 USD in Nigeria’s Black Market?
$100 equals ₦ 86,500
What is $100 (USD) worth in the black market today?
$100 equals ₦ 86,500
What is the Official 1 USD in Nigerian Naira?
As of July 19, the official rate for 1 USD in Nigeria Naira is 775.173 NGN
What is 30 dollars (USD) in Nigeria’s black market?
$30 equals 25,950 Nigerian Naira
Dollar to Naira Factors Affecting Foreign Exchange Rates
Here are several reasons for the declining dollar to naira exchange rate.
Inflation Rates: It is widely recognized that inflation directly influences black market exchange rates. Should the Nigerian economy stabilize and inflation be kept in check, the naira will reap benefits; conversely, if the naira keeps depreciating, it might suggest that essential goods and services are becoming increasingly costly.
Interest Rates: Another factor to monitor is interest rates. Should the lending rates from banks rise, it could adversely affect the economy, leading to a shrinkage and a subsequent drop in the naira’s worth.
Dollar to Naira EXCHANGE RATES
Government Debt: National debt can influence investor assurance and, consequently, the inflow of capital into the economy. Should inflows increase, the naira’s exchange rate will favor the naira.
Speculators: Speculators often sway the naira-to-dollar exchange rate. They hoard currency expecting a profit, which results in the naira plummeting even further.
Trade Conditions: Beneficial trade terms will bolster the value of the naira against the dollar, although Nigeria presently faces a trade deficit. Most imports come from China, India, and a majority of Asian nations.
Intriguing Facts About the United States Dollar You Didn’t Know
You recognize that the United States dollar is our currency. But did you know…
The dollar consists of three different denominations: the penny, nickel, and dime, each made up of 100 cents.
The dollar was first launched in 1792, replacing the Spanish dollar that was prevalent in the colonies.
The dollar is the most exchanged currency globally.
The dollar is also the most counterfeited currency worldwide.
A Brief History of the US Dollar
Did you know that the United States dollar has an intriguing history? It was established in 1792 when the US government enacted the Coinage Act, designating the US dollar as the official currency.
Since that time, the dollar has undergone numerous modifications. For instance, in 1854, the US replaced Spanish coins with American ones. By 1933, President Franklin D. Roosevelt removed the US from the gold standard, which meant the dollar could no longer be exchanged for gold.
Today, the US dollar ranks among the most widely used currencies in the world. More than 60% of all global transactions are conducted using US dollars. So, during your next holiday abroad, you can take pride knowing that you’re using a currency with a significant history!
Who Oversees the Production of US Currency?
The United States Mint oversees the manufacturing of the paper currency for the US dollar. It is a governmental entity under the Department of the Treasury, responsible for producing both paper money and coins.
Interestingly, the president selects the design for each bill and coin. The Mint then creates a prototype and submits it to the Treasury for approval. Once approved, it moves into mass production. Therefore, every bill and coin you observe in circulation bears the president’s approval, and they sometimes display his or her portrait.
