Dollar to Naira Today December 11th in Black Market
What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of December 11th, 2023, the dollar to naira exchange rate is 1 USD to 1190 NGN at the black market.
What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of December 11th, 2023, the dollar to naira exchange rate is 1 USD to 1190 NGN at the black market.
This means that for every one US dollar, you can exchange it for ₦1190, Investors King reports.
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 ₦1190 and ₦1180 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 ₦1190 and sold for ₦1180.
Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Selling Rate
1180
Buying Rate
1190
Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks
Date
Currency
Buying(NGN)
Central(NGN)
Selling(NGN)
12/7/2023
US DOLLAR
886.158
886.658
887.158
12/7/2023
POUNDS STERLING
1113.9892
1114.6178
1115.2463
12/7/2023
EURO
955.81
956.3493
956.8886
12/7/2023
SWISS FRANC
1011.0188
1011.5893
1012.1597
12/7/2023
YEN
6.1195
6.1229
6.1264
12/7/2023
CFA
1.5498
1.5598
1.5698
12/7/2023
WAUA
1264.4452
1265.1587
1265.8721
12/7/2023
RIYAL
236.2584
236.3917
236.525
12/7/2023
DANISH KRONA
128.1705
128.2428
128.3151
12/7/2023
SDR
1178.4129
1179.0778
1179.7427
Investors King understands that although the dollar to naira opened at N1190 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 Monday, December 11th, 2023, individuals in the black market purchased one US dollar for N1190 and sold it for N1180. This shows that the value of the Naira declined when compared to Tuesday, December 5th, 2023 when the local currency was exchanged at N1170 to a Dollar and a Dollar was purchased at N1160.
To stay informed about the dollar to naira exchange rate, there are several 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.
