Black Market Dollar to Naira Exchange Rate Today 29th December 2023
What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of December 29th, 2023, the dollar to naira exchange rate is 1 USD to 1215 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 29th, 2023, the dollar to naira exchange rate is 1 USD to 1215 NGN at the black market.
This means that for every one US dollar, you can exchange it for ₦1215, 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 ₦1215 and ₦1205 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 ₦1215 and sold for ₦1205.
Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Selling Rate
₦1205
Buying Rate
₦1215
Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks
Date
Currency
Buying(NGN)
Central(NGN)
Selling(NGN)
12/28/2023
US DOLLAR
881.031
881.531
882.031
12/28/2023
POUNDS STERLING
1124.1956
1124.8336
1125.4716
12/28/2023
EURO
977.592
978.1468
978.7016
12/28/2023
SWISS FRANC
1050.3469
1050.943
1051.5391
12/28/2023
YEN
6.248
6.2515
6.2551
12/28/2023
CFA
1.7257
1.7357
1.7457
12/28/2023
WAUA
1392.589
1393.3793
1394.1696
12/28/2023
RIYAL
234.9416
235.0749
235.2083
12/28/2023
DANISH KRONA
131.1331
131.2075
131.282
12/28/2023
SDR
1182.0793
1182.7501
1183.421
Investors King understands that although the dollar to naira opened at N1215 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, December 29th, 2023, individuals one US dollar for ₦1215 in the black market and sold it for ₦1205. This shows that the value of the Naira improved when compared to Wednesday, December 27th, 2023 when the local currency was exchanged at N1230 a Dollar and a Dollar was purchased at N1220.
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.
