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Dollar to Naira: Aboki Exchange Rate in Nigeria Today 5th June 2023
Dollar to Naira Aboki Exchange Rate in Nigeria Today 5th June 2023, can be accessed below.
What is the Dollar to Naira black market exchange rate today? See the black market dollar to naira exchange rate today below. You can swap your dollar for naira at these rates.
Newsone has obtained the official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates. Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market. As of now, you can purchase 1 dollar at ₦747 and sell it at ₦750, however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within hours.
Aboki Exchange Rate in Nigeria today: What is the Dollar to Naira black market exchange rate today?
Factors Influencing Foreign Exchange Rates
Here are some of the causes of the dwindling dollar-to-naira exchange rate.
Inflation Rates: It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is controlled, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.
Interest Rates: Another tool to keep an eye on is interest rates. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall.
Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. If inflows are high, the naira exchange rate will rise in favour of the naira.
Speculators: Speculators frequently impact the naira-to-dollar exchange rate. They stockpile money in anticipation of a gain, causing the naira to plummet even lower.
Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. Everything comes from China, India, and the majority of Asian countries.
FAQs About Aboki Exchange Rate in Nigeria Today
How much is $1 in Nigeria black market today?
How much is $1 in Nigeria black market today: The dollar to naira Aboki exchange rate in Nigeria today is N750 today, Monday, June 5, 2023. As of now, you can purchase 1 dollar at ₦747 and sell it at ₦750
How much is 1 dollar to Naira selling rate?
How much is 1 dollar to Naira selling rate: The dollar to naira Aboki exchange rate in Nigeria today is N750 today, Monday, June 5, 2023. As of now, you can purchase 1 dollar at ₦747 and sell it at ₦750
How much is 1 dollar in UBA bank?
How much is 1 dollar in UBA bank: The dollar to naira exchange rate in Nigeria today at the official rate is ₦461.20.
| 1 USD = 461.2091 NGN |
| 1 Dollars = 461.2091 Nigerian Naira |
| The USDNGN rate as of 5 Jun 2023 |
How much is $1 to Naira in black market?
How much is $1 to Naira in black market: Newsone reports that $1 to Naira in black market is N750 today, Monday, June 5, 2023.
How much is $1 dollar in Nigeria now?
How much is $1 dollar in Nigeria now: Newsone reports that $1 dollar in Nigeria is N750 today, Monday, June 5, 2023. As of now, you can purchase 1 dollar at ₦747 and sell it at ₦750
How much is $100 in black market today?
How much is $100 in black market today: Newsone reports that $100 in black market today is N75,000 today, Monday, June 5, 2023.
Disclaimer: NEWSONE NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
