On this page, Newsone Nigeria compiles the dollar to naira exchange rates daily during the week so our readers can easily have access to the rates the American dollar exchanged against the Nigerian naira each day for the week.
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How much is the Dollar to Naira Exchange rate at the black market and aboki fx tody? See today’s USD to Naira exchange rate. You convert your USD to Naira at these rates, or you convert your dollar to Naira at the most recent black market or parallel market rate.
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Nigerians prefer to exchange foreign currency, particularly the USD to Naira, on the black market since the conversion rate is much higher than what the bank offers.
On this page, you can discover all the facts and the current rate for dollar to Naira, both the CBN and the black market rate.
How Much is Dollar to Naira Exchange Rate Today and the Official Exchange Rate today?
Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has recommended individuals interested in Forex contact their respective banks before proceeding.
The parallel exchange rate (black market rate) always differs from the CBN rate. The exchange rate between the USD and the Nigerian Naira significantly impacts the Nigerian economy.
Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.
1 USD = 460.5878 NGN
1 Dollars = 460.5878 Nigerian Naira
The USDNGN rate as of 21 Apr 2023
As the Naira falls in value, inflation takes over the economy, which usually impacts the inhabitants. The Central Bank has stated that the Nigerian economy needs a significant turnaround and has asked Nigerians to work toward this goal, such as increasing exports.
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.
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 on the black/parallel market.
Today’s Euro to Naira black market rate: This is the rate at Aboki/Bureau De Change (BDC) are selling and buying The European currency (Euro) currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
Today’s Pounds to Naira black market rate: this is the rate Aboki/Bureau De Change (BDC) is selling and buying. The Great British Pounds currency (Pounds) is currently in Abuja, Kano, Lagos. There might be slight variations in the different parallel (unofficial) markets.
Today’s Canadian dollar to Naira black market rate: This is the rate at Aboki/Bureau De Change (BDC) are selling and buying The Canadian currency (Canadian dollar) currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
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 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.
Philips Sunday is a Journalist and SEO Expert with a demonstrated history of working in the media production industry. He has degrees in Mass Communication/Media Studies.
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