Nigerian Black Market: US Dollar to Naira Exchange Rate Today. "what happens (2023)

Nigerian Black Market: US Dollar to Naira Exchange Rate Todaycan be accessed under

For example, today April 12, 2023, what is the dollar to naira black market rate and aboki? View current US Dollar to Naira exchange rates. You convert your USD to Naira at these rates, or you convert your USD to Naira at the latest black market or parallel market rates.

Nigerians prefer to exchange foreign currencies, especially US dollars, into Naira on the black market as the exchange rate is much higher than that offered by banks.

You can discover them on this pageFacts and related coursesFor USD to Naira, CBN and black market rates. –

What is the US Dollar to Naira and the official exchange rate today, April 12, 2023?

How much is USD to Naira on the black market today

Please note that the Central Bank of Nigeria (CBN) does not recognize a parallel market (black market) and advises individuals interested in Forex to contact their respective banks before proceeding.

The parallel rate (black market rate) is always different from the CBN rate. The exchange rate between the US dollar and the Nigerian naira greatly affects the Nigerian economy.

As the naira loses value, inflation takes over the economy, usually affecting residents. The central bank said that the Nigerian economy needs a major transformation and has asked Nigerians to work towards this goal, such as increasing exports.

The exchange rate for black market dollars is usually higher than that of the Central Bank of Nigeria (CBN). The CBN rate is the rate at which you buy and sell USD to Naira on the CBN USD to Naira website.

The USD/Naira bank exchange rate is the exchange rate you use when purchasing goods from foreign websites using your Naira MasterCard or Nigerian Bank debit card. These prices are almost always cheaper than those on the black/gray market.

USD/NAR Black Market Exchange Rate Today, 12th April 2023

USD to Naira Black Market Exchange Rate Today - Black Market USD to Naira Exchange Rate

USD/Nigerian NairaUSDNGN official chart for the past six months

Convert US Dollars to Naira

Euroto Naira Black Market

Current Euroto Naira Black Market Rate: This is the Aboki/Bureau De Change (BDC) exchange rate for buying and selling European currencies (Euros), currently in Abuja, Kano and Lagos. Different parallel (unofficial) marketplaces may vary slightly.

Black market exchange rate USD to Naira

Poundsto Naira Sorte Highlighted

Black Market Pound to Naira Rate Today: This is the exchange rate for buying and selling Aboki/Bureau De Change (BDC). The main pound (Pound) is currently in Abuja, Kano, Lagos. Different parallel (unofficial) marketplaces may vary slightly.

rand du naira

The current exchange rate for rand to naira on the black market is the rate at which Aboki/Bureau De Change (BDC) buys and sells. Randen is currently located in Abuja, Kano and Lagos. Different parallel (unofficial) marketplaces may vary slightly.

dirham to naira

The current black market exchange rate for dirhams to naira is the Aboki/Bureau De Change (BDC) buy and sell rate. Dirhams are currently in Abuja, Kano and Lagos. Different parallel (unofficial) marketplaces may vary slightly.

Chinese Yuan to Naira

The current black market price from Chinese Yuan to Naira is what Aboki/Bureau De Change (BDC) buys and sells. Chinese yuan is currently used in Abuja, Kano and Lagos. Different parallel (unofficial) marketplaces may vary slightly.

Ghanaian Cedi to Naira Exchange Rates

The current black market exchange rate for the Ghanaian Cedi to Naira is the Aboki/Bureau De Change (BDC) buy and sell rate. The Ghanaian cedi is currently located in Abuja, Kano and Lagos. Different parallel (unofficial) marketplaces may vary slightly.

Canadian Dollar to Naira Black Market– Canadian Dollar to Naira

Canadian Dollar to Naira Black Market Rate Today: This is the current rate at which Aboki/Bureau De Change (BDC) buys and sells the Canadian dollar (CAD) in Abuja, Kano and Lagos. Different parallel (unofficial) marketplaces may vary slightly.

CBN Official Naira Exchange Rate

Naira to United States exchange rateDollar, according to data released by the Central Bank of Nigeria (CBN)currency exchangeConsider Forex is official.

Toon102550100 records Zoeken:

How much is 1 dollar in black market naira?

1 US Dollar to Naira Black Market - How much is Naira to US Dollars

$1 is745 crowns

How much is $100 on the black market today?

$100 is ₦74.500

How much is 100 US Dollars in Nigeria?

$100 is ₦74.500

How much is 1 dollar in black market naira?

How much is $100 on the black market today?

How much is 100 US Dollars in Nigeria?

Factors Affecting Exchange Rates

Here are some of the reasons why the dollar is falling against the naira.

Inflation rate:We all know that inflation directly affects the black market exchange rate. If the Nigerian economy can stabilize and inflation is contained, the naira will benefit; but if the naira continues to fall, it may indicate that the price of food and other necessities is rising every day.

Tenant:Another tool to watch is interest rates. If the rate at which banks lend money rises, it will damage the economy and make it shrink, and as a result the value of the naira will fall.

Government debt:Sovereign debt undermines investor confidence and thus the flow of resources into the economy. If the inflow is high, the Naira exchange rate will rise in favor of the Naira.

Speculators:Speculators often influence the exchange rate of the naira against the US dollar. They hoarded funds for profit, causing the naira to fall even lower.

Terms of the transaction: Favorable terms of trade will boost the value of the naira against the dollar despite Nigeria's current trade deficit. Everything comes from China, India and most Asian countries.

Fun Facts About the U.S. Dollar You Didn't Know

You know the dollar is our currency. but you know what...

- There are three different denominations of dollars: pennies, nickels and dimes. The dollar is made up of 100 cents.

- The dollar was first introduced in 1792. It replaced the Spanish dollar used in the colonies.

- The US dollar is the most traded currency in the world.

- The U.S. dollar is also the most counterfeited currency in the world.

A brief history of the dollar

Did you know that the U.S. dollar has a very fascinating history? It was created in 1792 when the United States government passed the Mint Act. The law designates the U.S. dollar as the official currency of the country.

Since then, the dollar has undergone some changes. For example, in 1854 the United States replaced Spanish coins with American coins. In 1933, President Franklin D. Roosevelt took the United States off the gold standard, meaning that dollars were no longer convertible into gold.

Today, the U.S. dollar is one of the most widely used currencies in the world. More than 60% of international transactions are done in U.S. dollars. So next time you're on vacation abroad, rest assured you're using a currency that's been around for a while!

Who controls the production of dollars?

The U.S. Mint is responsible for producing U.S. dollar bills. It is a state agency under the Ministry of Finance. They are not only responsible for the production of banknotes, but also coins.

Interestingly, the president decides the design of each bill and coin. The Mint then creates a prototype and sends it to the Treasury for approval. Production starts from there. So every bill and coin you see in circulation has been approved by the president — which is why it sometimes has his or her likeness on it.

Last update: 2023-04-12