Naira

Naira Exchange Rate Today, Tuesday, September 28, 2021

Published

3 years ago

September 28, 2021

The Central Bank of Nigeria (CBN) has said the Central Bank Digital Currency (CBDC), eNaira, will strengthen the Nigerian banking system and protect Nigerians from the unregulated crypto space.

The Nigerian Naira exchange rate remained weak against its global counterparts despite efforts to arrest the situation. Naira opened at N413.69 to a United States Dollar on Tuesday at the Investors and Exporters Forex Window.

While rates remained well above N550 per dollar at the unregulated parallel market, CBN exchange rates are better, only if accessible.

The apex bank is selling at N410.71 to banks, according to the data published on Monday. British Pounds and Euro goes for N562.4673 and N480.5718, respectively.

Deposit Money Banks are expected to sell U.S Dollar at around N413.500 as shown in the table below. British Pounds and Euro at N573.111 and N491.238 but forex scarcity amid huge demand has made it impossible for businesses and individuals looking to purchase forex across the nation.

The central bank had halt sale of forex to bureau de change operators earlier in August after accusing them of encouraging illicit financial flow and sustaining the black market were speculators and hoarders profitting from forex speculation operates.

Guaranty Trust Holding Company PLC (GTCO) Published Foreign Exchange Rates

Currency	Bid	Offer
USD	413.500	413.500
GBP	1.356	1.386
JPY	113.030	108.030
EUR	1.158	1.188

The above forex rates were quoted on GTCO website.

Central Bank of Nigeria (CBN) FX Rates

Date	Currency	Buying(NGN)	Central(NGN)	Selling(NGN)
9/27/2021	US DOLLAR	408.71	409.71	410.71
9/27/2021	POUNDS STERLING	559.7283	561.0978	562.4673
9/27/2021	EURO	478.2316	479.4017	480.5718
9/27/2021	SWISS FRANC	440.6102	441.6882	442.7663
9/27/2021	YEN	3.6844	3.6934	3.7024
9/27/2021	CFA	0.7128	0.7228	0.7328
9/27/2021	WAUA	579.2556	580.6729	582.0902
9/27/2021	YUAN/RENMINBI	63.2229	63.378	63.5331
9/27/2021	RIYAL	108.9574	109.224	109.4905
9/27/2021	SOUTH AFRICAN RAND	27.139	27.2054	27.2718

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Dollar to Naira Today September 29, 2021

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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 17th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 17th, 2024 stood at 1 USD to ₦1,540.

Published

2 days ago

May 17, 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 17th, 2024 stood at 1 USD to ₦1,540.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,560 and sold it at ₦1,550 on Thursday, May 16th, 2024.

This indicates a slight improvement in the Naira exchange rate when compared to today’s 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: ₦1,540
Selling Rate: ₦1,530

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 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

3 days 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

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

4 days 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.