Dollar to Naira Today Black Market, September 5th, 2023
As of September 5th, 2023, the dollar to naira exchange rate is 1 USD to 917 NGN at the black market. This means that for every one US dollar, you can exchange it for ₦917, Investors King reports.
As of September 5th, 2023, the dollar to naira exchange rate is 1 USD to 917 NGN at the black market. This means that for every one US dollar, you can exchange it for ₦917, Investors King reports.
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 ₦917 and ₦912 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 ₦917 and sold for ₦912.
Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Buying Rate
912
Selling Rate
917
Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks
Date
Currency
Buying(NGN)
Central(NGN)
Selling(NGN)
9/1/2023
US DOLLAR
739.99
740.49
740.99
9/1/2023
POUNDS STERLING
934.0894
934.7205
935.3517
9/1/2023
EURO
800.2992
800.8399
801.3807
9/1/2023
SWISS FRANC
836.9034
837.4689
838.0344
9/1/2023
YEN
5.0691
5.0725
5.076
9/1/2023
CFA
1.3265
1.3365
1.3465
9/1/2023
WAUA
1077.7471
1078.4753
1079.2035
9/1/2023
RIYAL
197.2886
197.4219
197.5552
9/1/2023
DANISH KRONA
107.3647
107.4373
107.5098
9/1/2023
SDR
984.2607
984.9257
985.5908
Investors King understands that although the dollar to naira opened at N917 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 Tuesday, September 5th, 2023, individuals in the black market purchased one US dollar for N917 and sold it for N912. This shows that the value of the Naira was unchanged when compared to Monday, September 4th, 2023 when the local currency was exchanged at N917 to a Dollar and a Dollar was purchased at N910.
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.
