Naira

Naira Exchange Rates Today, Wednesday, July 28, 2021

Published

3 years ago

July 28, 2021

Dollar to Naira Exchange Rate - Investors King

Naira plunged further against its global counterparts as the Central Bank of Nigeria (CBN) announced on Tuesday it has stopped sales of forex to Bureau De Change Operators (BDCs).

The naira plunged against the United States Dollar from N505 it traded on Tuesday to N525 on Wednesday at the black market. Against the British Pound and the Euro, the local currency exchanged at N710 and N600, respectively.

The Central Bank of Nigeria had accused Bureau de Change operators of engaging in money laundering and illicit flows with criminal-minded individuals that operate mainly at the unregulated black market section of forex.

Operators at the bureau de change section of forex had been accused of being the main source of forex for speculators and hoarders that manipulate forex rates at the unregulated black market, this the CBN plans to curb by cutting its weekly forex supply to BDCs but focus on servicing the economy through the banks.

The Naira also declined from N500 to N520 against the United States Dollar at the Bureau De Change section. The decline continues against the British Pound and the Euro as it dropped from N700 and N595 to N705 and N600, respectively. See the tables below for more exchange rates.

Naira Black Market Exchange Rates

Morning * Midday** Evening *** Final Rates

Date	USD	GBP	EURO	YUAN	Canadian	Australian
NGN	BUY/SELL	BUY/SELL	BUY/SELL	BUY/SELL	BUY/SELL	BUY/SELL
28/07/2021	515/525	700/710	590/600	63/70	410/420	300/320
27/07/2021	500/505	695/703	585/592	62/69	407/415	300/320
26/07/2021	500/504	695/703	585/592	62/69	407/415	300/320
23/07/2021	500/504	698/705	588/595	62/69	407/415	300/320
22/07/2021	498/503	695/703	585/590	62/69	407/415	300/320
19/07/2021	495/503	698/705	585/592	62/69	407/415	300/320
16/07/2021	502/506	700/708	590/596	62/69	407/415	300/315
15/07/2021	500/505	700/708	590/596	62/69	407/415	300/320
14/07/2021	500/505	702/708	590/595	62/68	407/415	300/320
13/07/2021	500/505	702/708	590/595	62/68	407/415	300/320
12/07/2021	500/505	700/708	590/595	62/69	407/415	300/320
09/07/2021	500/505	700/708	588/593	62/69	407/417	300/320
08/07/2021	499/503	700/708	588/593	62/69	407/417	300/325
07/07/2021	499/503	700/710	588/593	62/69	407/417	300/325
06/07/2021	499/503	698/710	590/595	62/69	407/417	300/325

Bureau De Change Naira Rates

Date	USD	GBP	EURO
NGN	BUY/SELL	BUY/SELL	BUY/SELL
28/07/2021	510/520	695/706	585/600
27/07/2021	490/500	690/700	580/595
26/07/2021	490/500	694/705	580/595
23/07/2021	490/500	694/705	580/595
22/07/2021	490/500	690/705	580/595
19/07/2021	490/500	690/707	580/595
16/07/2021	490/500	700/710	585/600
15/07/2021	490/500	698/710	585/600
14/07/2021	490/500	698/710	590/595
13/07/2021	490/500	697/710	585/600
12/07/2021	490/500	698/710	585/600
09/07/2021	490/500	698/710	585/600
08/07/2021	490/500	697/710	585/600
07/07/2021	490/500	697/710	585/600
06/07/2021	490/500	697/710	585/600
05/07/2021	490/500	700/714	585/600

Central Bank of Nigeria’s Official Naira Rates

Date	Currency	Buying(NGN)	Central(NGN)	Selling(NGN)
7/28/2021	US DOLLAR	409.16	409.66	410.16
7/28/2021	POUNDS STERLING	567.8322	568.5261	569.22
7/28/2021	EURO	483.0543	483.6446	484.2349
7/28/2021	SWISS FRANC	446.8276	447.3736	447.9196
7/28/2021	YEN	3.7163	3.7208	3.7253
7/28/2021	CFA	0.7176	0.7276	0.7376
7/28/2021	WAUA	580.7934	581.5032	582.2129
7/28/2021	YUAN/RENMINBI	62.9303	63.0077	63.085
7/28/2021	RIYAL	109.0919	109.2252	109.3585
7/28/2021	SOUTH AFRICAN RAND	27.6161	27.6498	27.6836

N.B: These tables are updated three times a day.

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Samed Olukoya

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Naira

Black Market Dollar to Naira Exchange Rate Today 16th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 16th, 2024 stood at 1 USD to ₦1,560.

Published

7 hours ago

May 16, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 16th, 2024 stood at 1 USD to ₦1,560.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,530 and sold it at ₦1,520 on Wednesday, May 15th, 2024.

This indicates a decline in the Naira exchange rate compared to the current rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.

How much is dollar to naira today in the black market

For those navigating the currency exchange landscape, here are the latest figures for the black market exchange rate:

Buying Rate: ₦1,560
Selling Rate: ₦1,550

As economic conditions continue to evolve, staying informed about currency exchange rates empowers individuals to make informed financial decisions. While the black market provides immediate insights, adherence to regulatory guidelines ensures stability and transparency in forex transactions.

Naira

Black Market Dollar to Naira Exchange Rate Today 15th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 15th, 2024 stood at 1 USD to ₦1,530.

Published

1 day ago

May 15, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 15th, 2024 stood at 1 USD to ₦1,530.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,520 and sold it at ₦1,510 on Tuesday, May 14th, 2024.

This indicates a decline in the Naira exchange rate compared to the current rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.

How much is dollar to naira today in the black market

For those navigating the currency exchange landscape, here are the latest figures for the black market exchange rate:

Buying Rate: ₦1,530
Selling Rate: ₦1,520

Naira

Black Market Dollar to Naira Exchange Rate Today 14th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 14th, 2024 stood at 1 USD to ₦1,520.

Published

2 days ago

May 14, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 14th, 2024 stood at 1 USD to ₦1,520.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,500 and sold it at ₦1,480 on Monday, May 13th, 2024.

This indicates a decline in the Naira exchange rate compared to the current rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.