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- 1. Aboki Forex Dollar To Naira
- 2. Nigerian Foreign Exchange News Details
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Aboki Forex Dollar To Naira
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Nigerian Foreign Exchange News Details
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Naira To Dollar News
Non-essential cookies are all cookies that are not explicitly necessary for the website to function and are used specifically to collect users’ personal data through analytics, advertisements, other embedded content. Obtaining user consent is mandatory before implementing these cookies on your website. Get the official dollar to naira exchange rate in Nigeria today, including black market rates, Bureau de Change (BDC) rates and CBN rates.
Important note: Please note that the exchange rate changes every hour… It depends on the available dollars and requirements. This means… you can buy or sell $1 for ₦665 and the price can change (more or less) within hours.
The Nigerian parallel market for the Nigerian naira (today’s black market dollar exchange rate) is as follows: for the Lagos market (black market).
The local currency opened at N665.00 per $1 on the parallel market known as black market in Lagos, Nigeria today August 8, 2022 and closed at N649.00 per $1 on Sunday August 7, 2022.
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The Central Bank of Nigeria (CBN) has said that the parallel market, also known as the black market, has not been recognized despite the parallel market opening at ₦665 per $1 in the dollar to the naira today. Apex Bank has therefore directed anyone who needs forex to contact their bank stressing that the I&E window is the only known exchange.
Meanwhile, there are reports that the USD opened this week at ₦665 on the parallel market aka black market in Lagos, Nigeria on Monday August 8, 2022 after opening at ₦710 last week on Monday August 1, 2022 .
Disclaimer: Forex does not set or determine rates. Official NAFEX rates are obtained from the FMDQOTC website. Parallel market prices (black market ones) are obtained from various sources, including online media. The rates at which you buy or sell currency may differ from what is stated in this article Dollar to Naira exchange rate today 13 December 2022 on the black/parallel market. Check today’s dollar to naira exchange rate on aboki fx. You convert your dollar to naira at these rates or you convert your dollar to naira at the latest black market or parallel market rate.
Nigerians prefer to exchange foreign currency, especially dollars, into naira on the black market because the exchange rate is much higher than what a bank offers.
Why We Are After Abokifx
On this page you can find all the facts and the current dollar to naira exchange rate on both the CBN and the black market.
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and advises individuals interested in forex to check with their respective banks before proceeding.
The parallel exchange rate (the black market rate) is always different from the CBN rate. The exchange rate between the US dollar and the Nigerian naira has a significant impact on the Nigerian economy.
As the naira depreciates, inflation takes over the economy, affecting residents as a whole. The central bank said Nigeria’s economy needs significant change and urged Nigerians to work towards this, such as increasing exports.
Forex Manipulation: Fg Vows To Prosecute Owner Of Aboki Fx Website, Adedotun Oniwinde
The black market dollar rate is often higher than that of the Central Bank of Nigeria (CBN). The CBN exchange rate is where you can buy or sell dollars to naira on the CBN dollar to naira website, cbn.gov.ng.
The dollar/naira bank rate is the rate you use when you buy something from a foreign website with your MasterCard or Naira debit card from a Nigerian bank. These rates are almost always cheaper than those offered on the black/parallel market.
Inflation rates: It is well known that inflation directly affects black market exchange rates. If Nigeria’s economy stabilizes and manages inflation, the naira will gain; However, if the naira continues to depreciate, it shows that food and other essential commodities are becoming more expensive on a daily basis.
Interest rates: Another tool to keep an eye on is interest rates. If the interest rate at which banks lend increases, it will hurt the economy, which will shrink and cause the naira to fall in value.
Dollar To Naira Exchange Rate Today Thursday 7th October 2021 [aboki Fx Rate]
Government Debt: National debt affects investor confidence and therefore the flow of funds in the economy. If inflows are high, the naira exchange rate will appreciate in favor of the naira.
Speculators: Speculators often influence the naira to dollar exchange rate. They are hoarding money expecting a profit, leading to further depreciation of the naira.
Terms of Trade: Although Nigeria currently runs a trade deficit, favorable terms of trade will boost the value of the naira against the dollar. Everything comes from China, India and most Asian countries.
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