Black Market Dollar to Naira Exchange Rate Today 9th, January 2024
What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of January 9th, 2024, the dollar to naira exchange rate is 1 USD to 1250 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 January 9th, 2024, the dollar to naira exchange rate is 1 USD to 1250 NGN at the black market.
This means that for every one US dollar, you can exchange it for ₦1250, 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 ₦1250 and ₦1240 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 ₦1250 and sold for ₦1240.
Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Selling Rate
₦1240
Buying Rate
₦1250
Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks
Date
Currency
Buying(NGN)
Central(NGN)
Selling(NGN)
1/5/2024
US DOLLAR
877.029
877.529
878.029
1/5/2024
POUNDS STERLING
1112.0728
1112.7068
1113.3408
1/5/2024
EURO
959.5574
960.1045
960.6515
1/5/2024
SWISS FRANC
1030.3442
1030.9316
1031.519
1/5/2024
YEN
6.0393
6.0428
6.0462
1/5/2024
CFA
1.5061
1.5161
1.5261
1/5/2024
WAUA
1220.3295
1221.0252
1221.7209
1/5/2024
RIYAL
233.837
233.9703
234.1036
1/5/2024
DANISH KRONA
128.6174
128.6907
128.764
1/5/2024
SDR
1172.4124
1173.0808
1173.7492
Investors King understands that although the dollar to naira opened at N1250 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, January 9th, 2023, individuals purchased one US dollar for ₦1250 in the black market and sold it for ₦1240. This shows that the value of the Naira declined when compared to Monday, January 8th, 2023 when the local currency was exchanged at N1240 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.
