Dollar to Naira Black Market Exchange Rate Today 20th December 2023
What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of December 20th, 2023, the dollar to naira exchange rate is 1 USD to 1230 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 20th, 2023, the dollar to naira exchange rate is 1 USD to 1230 NGN at the black market.
This means that for every one US dollar, you can exchange it for ₦1230, 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 ₦1230 and ₦1225 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 ₦1230 and sold for ₦1225.
Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Selling Rate
1225
Buying Rate
1230
Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks
Date
Currency
Buying(NGN)
Central(NGN)
Selling(NGN)
12/18/2023
US DOLLAR
854.841
855.341
855.841
12/18/2023
POUNDS STERLING
1082.8271
1083.4604
1084.0938
12/18/2023
EURO
934.3412
934.8877
935.4342
12/18/2023
SWISS FRANC
983.933
984.5085
985.084
12/18/2023
YEN
5.9792
5.9827
5.9862
12/18/2023
CFA
1.4994
1.5094
1.5194
12/18/2023
WAUA
1220.3844
1221.0982
1221.812
12/18/2023
RIYAL
227.8543
227.9876
228.1209
12/18/2023
DANISH KRONA
125.2955
125.3688
125.4421
12/18/2023
SDR
1146.1708
1146.8412
1147.5116
Investors King understands that although the dollar to naira opened at N1230 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, December 20th, 2023, individuals in the black market purchased one US dollar for N1230 and sold it for N1225. This shows that the value of the Naira improved when compared to Tuesday, December 19th, 2023 when the local currency was exchanged at N1235 to a Dollar and a Dollar was purchased at N1230.
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.
