Naira

Naira Kickstarts The Week With High Hopes, Maintains Flat Rate With Dollar

Published

1 year ago

May 31, 2022

The Nigerian Naira kicked off the week at a flat rate on the FMDQ’s forex exchange window with N418 to US$1 Dollar, as concluded in the previous week.

According to the Central Bank of Nigeria’s (CBN) official exchange rate, US Dollar to Naira exchange rate is set at ₦415.57 on Monday, May 30, 2022. While at the Investors and Exporters’ window (FMDQ), the Naira opened the day at N418.38 and closed at N420, representing a decline of 0.18%.

The dollar started last week at ₦415.68 in CBN exchange rate lists on Monday, May 23, 2022, and about the same rate for N418 was announced by FMDQ last week’s commencement. This corresponds to a 0.03% fall for the Dollar in CBN since last week.

As of last week, Wednesday, Investors King reported the Naira’s fall by 0.24 percent versus the US Dollar, falling from N417 to N416. The FMDQ-managed foreign exchange sector opened at N418 and was recognized by the central bank as the official exchange rate.

Investors King had suggested that this was due to the following of Central Bank of Nigeria‘s decision to raise the nation’s interest rate by 150 basis points.

US Dollar rate suggested by CBN was ₦415.62 at the beginning of May on Wednesday, May 04, 2022. As of today with USD seen at ₦415.57, we see a 0.01% fall in USD to Naira exchange rates in CBN for this Ma

The Naira’s strain at the parallel black market also began the week in good faith. The Naira was traded between N600 – N605 to a US Dollar as against the N608 it concluded the previous week with. This means Naira increased its value by N3 against the dollar.

Cryptocurrency Exchange Rate

Bitcoin to Naira exchange rate appreciated by 3.73% in the last 24 hours to N19.12 million a coin. ETH, the token of the Ethereum protocol gained 4.12% to N1.189 million per coin.

The gain was reasonable broad-based as the Binance coin (BNB) also inched slightly higher to N193,045, a 0.91% increase.

This week’s rebound in cryptocurrency was after several weeks of a bearish trend following the increase in interest rates in developed nations to halt the rising inflation rates and curtail the Russia-Ukraine spillover.

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Naira

Naira to Dollar Black Market Exchange Rate September 29th, 2023

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of September 29th, 2023, the dollar to naira exchange rate is 1 USD to 1008 NGN at the black market.

Published

19 hours ago

September 29, 2023

Samed Olukoya

Naira to Dollar Exchange- Investors King Rate - Investors King

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of September 29th, 2023, the dollar to naira exchange rate is 1 USD to 1008 NGN at the black market.

This means that for every one US dollar, you can exchange it for ₦1008, Investors King reports.

This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

How Much is Dollar to Naira Today in the Black Market?

This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. However, you can buy and sell 1 USD at ₦1008 and ₦1000 as of the time of writing today.

What is the current exchange rate of the dollar to naira in the black market today?

According to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for ₦1008 and sold for ₦1000.

Exchange Rate of Dollar To Naira in Black Market Today?

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Buying Rate	1000
Selling Rate	1008

Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks

Date	Currency	Buying(NGN)	Central(NGN)	Selling(NGN)
9/28/2023	US DOLLAR	766.467	766.967	767.467
9/28/2023	POUNDS STERLING	934.7065	935.3163	935.926
9/28/2023	EURO	809.0826	809.6104	810.1382
9/28/2023	SWISS FRANC	836.2066	836.7521	837.2976
9/28/2023	YEN	5.1344	5.1378	5.1411
9/28/2023	CFA	1.2298	1.2398	1.2498
9/28/2023	WAUA	1018.949	1019.6137	1020.2784
9/28/2023	RIYAL	204.364	204.4973	204.6306
9/28/2023	DANISH KRONA	108.4787	108.5495	108.6202
9/28/2023	SDR	1005.0682	1005.7238	1006.3795

Investors King understands that although the dollar to naira opened at N1008 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.

On Friday, September 29th, 2023, individuals in the black market purchased one US dollar for N1008 and sold it for N1000. This shows that the value of the Naira was mixed when compared to Thursday, September 28th, 2023 when the local currency was exchanged at N1000 to a Dollar and a Dollar was purchased at N995.

To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Here are some tips for staying up-to-date:

Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
Follow financial news outlets: Financial news outlets such as Investors King, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.

By staying informed about the dollar-to-naira exchange rate, you can make informed decisions when buying or selling foreign currencies. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. Keep these tips in mind and stay informed about the latest trends in the global currency markets.

Naira

Naira to Dollar Black Market Exchange Rate September 28th, 2023

Published

2 days ago

September 28, 2023

Investors King

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of September 28th, 2023, the dollar to naira exchange rate is 1 USD to 1009 NGN at the black market.

This means that for every one US dollar, you can exchange it for ₦1009, Investors King reports.

This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

How Much is Dollar to Naira Today in the Black Market?

What is the current exchange rate of the dollar to naira in the black market today?

According to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for ₦1009 and sold for ₦994.

Exchange Rate of Dollar To Naira in Black Market Today?

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Buying Rate	994
Selling Rate	1009

Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks

Date	Currency	Buying(NGN)	Central(NGN)	Selling(NGN)
9/26/2023	US DOLLAR	777.602	778.102	778.602
9/26/2023	POUNDS STERLING	946.886	947.4948	948.1037
9/26/2023	EURO	823.325	823.8544	824.3838
9/26/2023	SWISS FRANC	850.9543	851.5014	852.0486
9/26/2023	YEN	5.2216	5.225	5.2283
9/26/2023	CFA	1.207	1.217	1.227
9/26/2023	WAUA	994.6011	995.2407	995.8802
9/26/2023	RIYAL	207.2831	207.4164	207.5497
9/26/2023	DANISH KRONA	110.3858	110.4568	110.5278
9/26/2023	SDR	1021.2247	1021.8814	1022.538

Investors King understands that although the dollar to naira opened at N1009 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.

On Thursday, September 28th, 2023, individuals in the black market purchased one US dollar for N1009 and sold it for N994. This shows that the value of the Naira was unchanged when compared to Wednesday, September 27th, 2023 when the local currency was exchanged at N1000 to a Dollar and a Dollar was purchased at N995.

To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Here are some tips for staying up-to-date:

Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
Follow financial news outlets: Financial news outlets such as Investors King, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.

Naira

Naira to Dollar Black Market Exchange Rate September 27th, 2023

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of September 27th, 2023, the dollar to naira exchange rate is 1 USD to 1000 NGN at the black market.

Published

3 days ago

September 27, 2023

Investors King

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of September 27th, 2023, the dollar to naira exchange rate is 1 USD to 1000 NGN at the black market.

This means that for every one US dollar, you can exchange it for ₦1000, Investors King reports.

This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

How Much is Dollar to Naira Today in the Black Market?

What is the current exchange rate of the dollar to naira in the black market today?

According to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for ₦1000 and sold for ₦995.

Exchange Rate of Dollar To Naira in Black Market Today?

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Buying Rate	995
Selling Rate	1000

Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks

Date	Currency	Buying(NGN)	Central(NGN)	Selling(NGN)
9/26/2023	US DOLLAR	777.602	778.102	778.602
9/26/2023	POUNDS STERLING	946.886	947.4948	948.1037
9/26/2023	EURO	823.325	823.8544	824.3838
9/26/2023	SWISS FRANC	850.9543	851.5014	852.0486
9/26/2023	YEN	5.2216	5.225	5.2283
9/26/2023	CFA	1.207	1.217	1.227
9/26/2023	WAUA	994.6011	995.2407	995.8802
9/26/2023	RIYAL	207.2831	207.4164	207.5497
9/26/2023	DANISH KRONA	110.3858	110.4568	110.5278
9/26/2023	SDR	1021.2247	1021.8814	1022.538

Investors King understands that although the dollar to naira opened at N1000 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.

On Wednesday, September 27th, 2023, individuals in the black market purchased one US dollar for N1000 and sold it for N995. This shows that the value of the Naira declined further when compared to Tuesday, September 26th, 2023 when the local currency was exchanged at N995 to a Dollar and a Dollar was purchased at N990.

To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Here are some tips for staying up-to-date:

Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
Follow financial news outlets: Financial news outlets such as Investors King, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.