Naira

Dollar to Nigerian Naira Exchange Today, Tuesday, August 17, 2021

Published

3 years ago

August 17, 2021

The Nigerian Naira was largely unchanged against the United States Dollar on Tuesday morning at the parallel market known as the Black market. The local currency opened the day at N515 to a United States Dollar. While against the British Pound and the Euro, the Naira exchanged at N706 and Euro, respectively.

At the Bureau de Change segment, the Naira exchanged at N513 to a United States Dollar, N706 to a British Pound and N603 to a single Euro.

Economic uncertainty continues to dictate the Nigerian Naira’s outlook, especially after the series of changes implemented by the Central Bank of Nigeria (CBN) to prop up the value of the local currency, curb the activities of speculators and hoarders at the unregulated black market and converge the nation’s exchange rates.

However, weak foreign reserves amid chronic forex scarcity remained the bane of Nigeria’s forex predicament. The inability of the Central Bank of Nigeria to service the economy with enough forex given the structure of the economy as an import-dependent economy continues to escalate the price of import goods and the profit of imports dependent businesses. See other exchange rates below.

Naira Black Market Exchange Rates

Morning * Midday** Evening *** Final Rates

Date	USD	GBP	EURO	YUAN	Canadian	Australian
NGN	BUY/SELL	BUY/SELL	BUY/SELL	BUY/SELL	BUY/SELL	BUY/SELL
17/08/2021	510/515	700/706	595/605	70/75	415/430	305/330
16/08/2021	508/515	700/705	590/600	70/75	415/430	305/330
13/08/2021	508/515	695/703	590/600	70/75	415/425	305/330
12/08/2021	507/515	695/702	590/598	70/75	415/425	305/330
11/08/2021	507/515	695/703	590/596	70/75	415/425	305/330
10/08/2021	503/510	695/703	590/596	70/75	415/425	305/330
09/08/2021	503/510	695/705	590/596	70/75	420/420	305/330
06/08/2021	505/510	700/705	592/598	70/75	407/415	305/330
05/08/2021	500/508	700/705	590/598	70/75	407/415	305/330

Bureau De Change Naira Rates

Date	USD	GBP	EURO
NGN	BUY/SELL	BUY/SELL	BUY/SELL
17/08/2021	500/513	695/706	585/603
16/08/2021	500/513	695/705	585/600
13/08/2021	500/513	690/700	585/600
12/08/2021	500/513	690/700	585/600
11/08/2021	500/513	680/705	585/600
10/08/2021	500/506	680/705	585/600
09/08/2021	500/506	680/705	580/600
07/08/2021	510/520	695/706	585/600
06/08/2021	495/508	680/705	580/602
05/08/2021	495/508	685/705	580/602
04/08/2021	495/508	685/705	580/602

Central Bank of Nigeria’s Official Naira Rates

Date	Currency	Buying(NGN)	Central(NGN)	Selling(NGN)
8/17/2021	US DOLLAR	409.11	409.61	410.11
8/17/2021	POUNDS STERLING	564.1218	564.8112	565.5007
8/17/2021	EURO	481.3179	481.9062	482.4944
8/17/2021	SWISS FRANC	449.0286	449.5774	450.1262
8/17/2021	YEN	3.7427	3.7472	3.7518
8/17/2021	CFA	0.7151	0.7251	0.7351
8/17/2021	WAUA	581.5069	582.2176	582.9283
8/17/2021	YUAN/RENMINBI	63.1343	63.2119	63.2896
8/17/2021	RIYAL	109.0785	109.2119	109.3452
8/17/2021	SOUTH AFRICAN RAND	27.5781	27.6118	27.6455

N.B: These tables are updated three times a day.

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Samed Olukoya

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Naira

Dollar to Naira Black Market Exchange Rate Today 4th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 4th, 2024 stood at 1 USD to ₦1,400.

Published

2 hours ago

May 4, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 4th, 2024 stood at 1 USD to ₦1,400.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,380 and sold it at ₦1,370 on Friday, May 3rd, 2024.

This indicates a decline in the Naira exchange rate compared to the current rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.

How much is dollar to naira today in black market

For those navigating the currency exchange landscape, here are the latest figures for the black market exchange rate:

Buying Rate: ₦1,400
Selling Rate: ₦1,390

As economic conditions continue to evolve, staying informed about currency exchange rates empowers individuals to make informed financial decisions. While the black market provides immediate insights, adherence to regulatory guidelines ensures stability and transparency in forex transactions.

Naira

Black Market Dollar Rate Reaches ₦1,380 Today, May 3rd, 2024

US dollar to Nigerian Naira exchange rate as of May 3rd, 2024 at the black market stood at 1 USD to ₦1,380

Published

1 day ago

May 3, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 3rd, 2024 stood at 1 USD to ₦1,380.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,350 and sold it at ₦1,340 on Thursday, May 2nd, 2024.

This indicates a decline in the Naira exchange rate compared to the current rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.

How much is dollar to naira today in black market

For those navigating the currency exchange landscape, here are the latest figures for the black market exchange rate:

Buying Rate: ₦1,380
Selling Rate: ₦1,370

Naira

Dollar to Naira Black Market Today, May 2nd, 2024

As of May 2nd, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1,350 NGN in the black market, also referred to as the parallel market or Aboki fx.

Published

2 days ago

May 2, 2024

Samed Olukoya

As of May 2nd, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1,350 NGN in the black market, also referred to as the parallel market or Aboki fx.

For those engaging in currency transactions in the Lagos Parallel Market (Black Market), buyers purchase a dollar for N1,310 and sell it at N1,300 on Monday, April 29th, 2024 based on information from Bureau De Change (BDC).

Meaning, the Naira exchange rate declined when compared to today’s rate below.

This black market rate signifies the value at which individuals can trade their dollars for Naira outside the official or regulated exchange channels.

Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics.

How Much is Dollar to Naira Today in the Black Market?

Kindly be aware that the Central Bank of Nigeria (CBN) does not acknowledge the existence of the parallel market, commonly referred to as the black market.

The CBN has advised individuals seeking to participate in Forex transactions to utilize official banking channels.