Dollar to Naira Black Market Today Tuesday 17/01/2023- Newsone

Dollar to Naira Black Market Today Tuesday 17/01/2023 – Are you looking for the current dollar to naira exchange rate in today’s black market? If yes, you are in the right place. Here you will also find the current dollar to Naira official CBN rate as well as the dollar-to-naira bank rate today. Find the Aboki dollar rate in Nigeria today, The official CBN dollar rate, and the latest dollar-to-naira news, trends, and updates on this page.

How Much is Dollar to Naira and the official Exchange Rate Today, 17th January 2023?

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks. The parallel exchange rate (black market rate) always differs from the CBN rate. dollar to Naira

The black market rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website, cbn.gov.ng.

The dollar to naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. These rates are almost always cheaper than those available on the black/parallel market.

How much is dollar to naira today in black market?

How much is Dollar to Naira Today? If you have dollars now in Nigeria, you are a rich man in Nigeria. See the current dollar to Naira exchange rate as of today. We compare the Dollar to Naira bank rate vs aboki rate. Dollar to naira exchange bank rate is far lower than the dollar to naira aboki rate. Of course, you know that the exchange rate in banks is different from the exchange rate in the parallel market. See the details below. Dollar to Naira Today

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N740 and sell at N749 on Tuesday 17/01/2023, according to wordpress-1211440-4294605.cloudwaysapps.com and other sources at Bureau De Change (BDC).

Please, note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Aboki dollar to naira today black market

In the parallel market, Aboki refers to the Hausa people who buys and sell dollars in the streets of Lagos and other major cities in Nigeria.

How much is naira to dollar in black market today? Many of the dealers said they have struggled to trade after abokiFX.com, a website that collates parallel market rates in Lagos, stopped publishing parallel market rates on Friday, after the Central Bank of Nigeria threatened its owner.

How much is dollar to naira black market? “A lot of the big players are finding it difficult to trade because abokiFX no longer displays exchange rates anymore.

How much is a dollar to naira in the black market? We now sell based on how we buy. There’s a likelihood that naira might appreciate further by tomorrow because the price of the dollar keeps fluctuating throughout today,” a dealer told PREMIUM TIMES.

US Dollar to Naira Lagos Parallel Market Rates Today

Are you looking for abokifx exchange rate in Nigeria today black market? As of the time of updating this article, the Aboki Dollar to Naira today rates has not been updated. That is the reason we wrote it loading… We will update the aboki exchange rate in Nigeria today 2022 once the figure goes live. Kindly check back to confirm the current rates.

How much is dollar now in Nigeria? You can find out the current dollar to naira black market rate on this page. The dollar to naira today black market can also be referred to as dollar to naira parallel market. Remember that a parallel market, which is the street market, is not always compliant with an institutional set of rules.

Dollar to naira black market rate

The dollar to naira black market rate is higher than the official CBN rate. You will know the official back market rate in the streets. That is, if you have dollars that you want to exchange dollars for naira (sell), the amount is determined by the person who have the dollar to exchange for you. On the other hand, if you want to exchange naira to the dollar (buy), the amount could also be high. Dollar to Naira

This is the dollar to naira exchange rate in the streets. It’s also called dollar to naira rate in the parallel market or dollar to naira Aboki rate. Black market money exchangers are local BDC street retailers found in almost all states in Nigeria.

Dollar to naira parallel market

What is aboki exchange rate in Nigeria today? The exchange rate of Dollar to Naira Today is minimal. If you have a dollar to change with Aboki, make sure you confirm the dollar to naira bank rate today so that you will not be cheated. From the table above, you can see that the dollar to naira black market rate is N747.

As of today, the exchange rate dollar to naira black market is different from the bank rate which is N453/$. According to Morningstar, one United States Dollar equals 1 USD = 453.0396 NGN – Nigerian Naira.

Official Dollar to Naira CBN Rate today

See the official dollar to naira government rate today.

Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.

1 USD = 453.0396 NGN

1 Dollars = 453.0396 Nigerian Naira

The USDNGN rate as of 17 Jan 2023

Meanwhile, NEWS ONE NIGERIA reports that the USD started this week at ₦745 in Parallel Market also known as Black Market on Monday, January 16, 2023, in Lagos Nigeria, after it opened at ₦747 last week Monday, January 9, 2023.

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.

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