Black Market Dollar to Naira Exchange Rate Today 6th December 2023
What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of December 6th, 2023, the dollar to naira exchange rate is 1 USD to 1165 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 6th, 2023, the dollar to naira exchange rate is 1 USD to 1165 NGN at the black market.
This means that for every one US dollar, you can exchange it for ₦1165, 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 ₦1165 and ₦1160 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 ₦1165 and sold for ₦1160.
Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Selling Rate
1160
Buying Rate
1165
Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks
Date
Currency
Buying(NGN)
Central(NGN)
Selling(NGN)
12/5/2023
US DOLLAR
951.441
951.941
952.441
12/5/2023
POUNDS STERLING
1202.2408
1202.8726
1203.5044
12/5/2023
EURO
1030.2203
1030.7617
1031.3031
12/5/2023
SWISS FRANC
1089.1037
1089.6761
1090.2484
12/5/2023
YEN
6.4781
6.4815
6.4849
12/5/2023
CFA
1.3327
1.3427
1.3527
12/5/2023
WAUA
1086.9063
1087.4775
1088.0487
12/5/2023
RIYAL
253.6635
253.7968
253.9301
12/5/2023
DANISH KRONA
138.1603
138.2329
138.3055
12/5/2023
SDR
713.9734
714.3486
714.7238
Investors King understands that although the dollar to naira opened at N1165 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 6th, 2023, individuals in the black market purchased one US dollar for N1165 and sold it for N1160. This shows that the value of the Naira improved 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.
