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There might be slight variation at different parallel (unofficial) market. The Nigeria parallel market (black market dollar Aboki exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (blackmarket). From the standpoint of view the market seems to be indicating for a further fall. The Dollar to Naira Exchange rate at the black market is also known as the parallel market (Aboki fx). Interest Rates:Another tool to keep an eye on is interest rates. They stockpile money in anticipation of a gain, causing the naira to plummet even lower. The parallel exchange rate (black market rate) is always different from the CBN rate. Conditions of Trade:Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. 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. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange. Dollar to naira exchange rate today black market (Aboki dollar rate): Investors King understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N745 and sell at N747 as of the time of filing this report. For example, in 1854, the US replaced Spanish with American coins. Infact black market exchange rate became much pronounced more than ever in the history of Nigeria. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. When we look at this month, USD was traded at at the beginning of this January on Monday, January 2, 2023. January 15, 2023. Type above and press Enter to search. Selling Rate. Dollar To Naira Black Market Exchange Rate For Today 17th January 2023, Bickerings as CBN Shuns FAACs Invitation Over Remittances Into Revenue Accounts, CBN Launches Domestic Card to Deepen Cashless Policy, Track Spendings, $15.3bn Was Used to Steady The Naira in 2022, CBN Claims, Dollar To Naira Black Market Exchange Rate For Today 15th January 2023, Dollar To Naira Black Market Exchange Rate For Today 14th January 2023. US DOLLAR: 745: 740: 24 December 2022: POUNDS STERLING: 920: 910: 24 December 2022: EURO: 755: 750: Note: The rates you buy or sell forex may differ from what is captured in this article because prices vary. Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has recommended individuals interested in Forex contact their respective banks before proceeding. Without them it will be hard to get dollars from the bank. The dollar-to-naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. Premium Times reports that : At the black market in Abuja and Lagos, dealers exchanged the naira at N570.00 per $1 on Thursday. Thelocal currency opened at N746.00 per $1at the parallel market otherwise known as the black market todayWednesday, 18 January 2023, in Lagos Nigeria, after it closed atN747.00 per $1onMonday, 17 January 2023. Todays Ghanaian Cedis to Naira black marketrate: this is the rate Aboki/Bureau De Change (BDC) are selling and buying The Ghanaian Cedis is currently in Abuja, Kano, Lagos. In this article, we are going to trace the history of Naira exchange rate to Dollar , how it has fair under previous administration. These cookies will be stored in your browser only with your consent. document.write(new Date().getFullYear()); They stockpile money in anticipation of a gain, causing the naira to plummet even lower. At this point Excess Crude Account (ECA) was introduced which had over $20 billion at the end of 2008. There might be slight variation at different parallel (unofficial) market. The Nigerian economy has been drastically affected by the naira to U.S. dollar exchange rate. There might be slight variations in the different parallel (unofficial) markets. This is according to information from black market traders who spoke to Nairametrics. For the last 7 days, between 04/01/2023 and 11/01/2023, Canadian Dollar to Naira black market rate took values between 510 . The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website,cbn.gov.ng. Inflation Rates:It is well known that inflation directly impacts black market exchange rates. The United States Mint is in charge of producing the paper currency for the US dollar. The exchange rate between the Naira and the US dollar, according to the data posted on theCentral Bank of Nigeria (CBN)Currency Exchange Rate where forex is official. and went high to 164 naira at the end of 2014. The dollar-to-naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. Point to note : when Soludo came into office exchange rate was around 127 naira to $1 and when he left 147. There are about $1.54 trillion in circulation : all over the world, there are about $1.54 trillion USD currency in circulation. You can reach him at. Note that the official exchange rate was 22 naira, the black market exchange rate was around 88 naira to 1 $. The parallel (black market) exchange rate is different from the official Central Bank of Nigeria (CBN) rate. Here are some of the causes of the dwindling dollar to naira exchange rate. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. This means that Nigerians are likely to spend more buying goods and services in the international market. The exchange rate between the US dollar and the Nigerian Naira significantly impacts the Nigerian economy. I Cant Believe This Nigerian Mum Finds Unexpected Items inside Childrens School Bags, Shares Video, Pray She Misses Her Period: Is a Baby Coming? Davidos Chioma Spotted Checking Menstrual Cycle Tracking App in Video, Many Ladies, UK Govt Releases List of Companies Approve To Sponsor Skilled Nigerians Ready To Relocate, Five Side Hustles for 9-5 Workers in Nigeria, How to start ecommerce business Steps Guide, CBN Releases Security Features of New Naira Notes as Fake Notes Emerge. The Nigerian government didn't capitalize on the rise in oil prices to build up its reserves. Ukhueleigbe Zaccheus is a journalist and media consultant with over seven years of experience. The local currency opened at N605.00 per $1 at the parallel marketotherwise known as theblack market, today, Tuesday, 31 May 2022, inLagos Nigeria,after itclosed at N607.00 per $1 on Monday, 30th May 2022. You also have the option to opt-out of these cookies. Here is the USD to Naira exchange rate for today: See the Naira performance across various currencies. Video Hits Internet As Davido and Chioma Tattoo Each Others Names on Fingers With Their Wedding Rings, Football Pool Results: Week 26 Pool Result 2022 Pool Agent, Week 25 Pool Result 2022 For Saturday 24th December 2022 Pool Agent, Football Pool Results: Week 25 Pool Result 2022 Pool Agent, Pele had a huge net worth in 2022 despite retiring 45 years ago, Qatar 2022: France vs Morocco semi-final an AFCON clash Okocha, I Go Knack You 4 Days: Nigerian Lady Tells Man Shed Sleep with Him before Helping Him with N50k, Chat Leaks, Suspicious Mum Challenges Daughters Teacher, Says Her Child Always Returns with Piece of Chalk, He Drove Me Home When I Was Born: Davido Opens Up on Relationship With Billionaire Aliko Dangote, The Baby is So Fine: Mad Woman Gives Birth to Newborn in Front of Ladys Shop, People Gather Around in Video, Nigerian Lady Uses Oyinbo Accent to Say Balablu Blu Blu Bulaba, Video Goes Viral and Trends on TikTok, Sad Photos as Mum Finds Son Who Quit School Years Ago Living in the Bush, Says He Took Loan of N185k, Curvy Lady in Security Uniform Dances in Open Arena, Video Emerges on TikTok And Gains 1.9 Million Views, I Cant Leave Him There: Nigerian Lady Picks up Homeless Retired Officer in Cute Video, Gets a House for Him, Young Man Approaches Lady in Parents Presence, Her Mum Immediately Changes Face, Talks in Video, Asoebi Fashion: 2 Ladies Command Attention in Stylish Green Agbada Outfit, Netizens in Awe, Parents Threaten to Withdraw Kids From Private Schools Over Hike in School Fees, Latest JAMB News On JAMB 2023, JAMB Registration 2023, 14th January 2023, List of Nigerian Banks offering parents school fees loans for their kids, Simple Way to Write a Business Case Study Essay. but by 1993 after the brahim Babagindas regime came to an end the Naira has sheded much value and was exchange at 11 naira for $1. Read BrandNewsDay Nigeria update on the official pounds rates as well as Pounds To Naira Black Market Today rates,Bureau De Change (BDC) rates, Pounds to Naira Bank Rate today, andCBN rates. Nigerians prefer to exchange foreign currency, particularly dollar to Naira, on the black market since the conversion rate is much higher than the bank offers. The new boss Michael Chiang replaces the companys longtime leader Wang Charng-Yang as the head of the iPhone assembly. The government plans to subsidize the purchase of electric vehicles with the aim of reaching 2.5 million EV users by 2025 and reducing air pollution by 29% by 2030. 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. The local currency (abokiFx) opened at N747.00 per $1 at the parallel market otherwise known as the black market, today, Wednesday, 18th January 2023, in Lagos Nigeria, after it closed at N745.00 per $1 on Tuesday, 17th January 2023. We share trending Entertainment News, Movie Reviews, Music, Lifestyle and more. Currently, 1 dollar equals 686 Naira. Everything comes from China, India, and the majority of Asian countries. Kemi Filani is Nigerias No 1 Premium Entertainment News Magazine. Reports disclose that the plant would produce as many as 1 million cars a year, in line with Teslas ambition for all its factories globally to eventually reach the capacity. Dollar to Naira Black Market Rate Today, 28th December 2022 Euro to Naira Black Market I Cant Believe This Nigerian Mum Finds Unexpected Items inside Childrens School Bags, Shares Video, Pray She Misses Her Period: Is a Baby Coming? Davidos Chioma Spotted Checking Menstrual Cycle Tracking App in Video, Many Ladies, UK Govt Releases List of Companies Approve To Sponsor Skilled Nigerians Ready To Relocate, Five Side Hustles for 9-5 Workers in Nigeria, How to start ecommerce business Steps Guide, CBN Releases Security Features of New Naira Notes as Fake Notes Emerge. January 10 dollar to naira black market exchange rate: $1 dollar to naira = 745. The Naira was exchanged at 22 naira for $1 officially. Million of Dollars are printed daily: its on record that over 38 million notes are being printed on daily basis, the worth of this is being pegged at 541 million Dollars. See the black market exchange rate for 22nd December, below. There might be slight variations in the different parallel (unofficial) markets. Government Debt:National debt can impact investor confidence and, as a result, the influx of funds into the economy. Methods for Getting Started with Cryptocurrency Mining, 10 Ways to Grow an Organic Instagram Presence. Also, he was reported to play a pivotal role in communicating with the local government and making sure Apples demands were satisfied when the company encountered unprecedented workers unrest in its main iPhone campus in the central Chinese city of Zhengzhou in 2022. Teslas deal is coming after reports disclose that the automaker in 2021 had sent an investment proposal to Indonesia to possibly build a full battery factory. Dollar To Naira Black Market Exchange Rate For Today 17th January 2023, Factors Influencing Foreign Exchange Rates, Naira In Circulation Increases By 0.3 Percent To N2.159 Trillion, BusyBee Academy, Weddings Beautiful Africa Sign Pact On International Certifications, Konga Jara: 6 Slots Up For Grabs As Battle Intensifies For, PAY MOBILEs Founder And CEO Sahar Salama Hands Over Group CEO, Terra Seasoning Cube Emerges Outstanding Seasoning Cube Brand, Black Market rates, Bureau De Change (BDC) rate, and CBN rates, Sincere Department Store was awarded as The Most Popular Department Store by TVB Weekly, Recruitment: Apply For Baker Hughes Job Vacancies, Dollar To Naira Black Market Exchange Rate For Today 18th January 2023, Stanbic IBTC Bank Tops Retail, Corporate Banking In Nigeria KPMG 2022 Report, Nigerias Inflation Drops First Time In 11 Months, BBTitans Update: HoH, Mmeli Safe, 19 BBTitans Housemates Up For Eviction. Dollar to Naira Black Market Rate Today, 26 July 2022 The Nigerian economy seems to be a mono economy from the look of things, this means that we rely on foreign goods, services. Here is Todays Dollar to Naira black market rate : this is the rate Aboki/Bureau De Change (BDC) are selling and buying The United States dollar currently in Abuja, Kano, Lagos. You can access the dollar to naira yesterday, Dollar To Naira Bank Rate Today and Dollar to Naira Black Market Today below: The exchange rate between the Naira to US dollar, according to the data posted on theFMDQ Security Exchangewhereforex is officially traded showed that the naira opened at 414.69 per dollar Today Tuesday, 31 May 2022, after the dollar to naira yesterday Monday, May 30, 2022, closed at 415.69 per $1. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall. Dollar to Naira Black Market Rate Today, 11th December 2022, Factors Influencing Foreign Exchange Rates.
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