[Updated] Dollar to Naira Black Market Today Exchange Rate 2023 AbokiFx » Voice of Nigeria
Dollar to Naira Black Market Today: The black market exchange rate for the United States dollar (USD) to the Nigerian naira (NGN) is the unofficial rate at which people exchange these two currencies. This rate is often different from the official exchange rate set by the Central Bank of Nigeria and can fluctuate significantly.
The black market rate may be used by people who want to exchange large amounts of money and want to avoid the restrictions or fees associated with official channels. It may also be used by people who want to exchange money for illegal purposes, such as avoiding taxes or money laundering.
It is important to note that engaging in the black market can be illegal and carries the risk of financial loss or criminal penalties.
Dollar to Naira Today Black Market Exchange Rate
The latest update on the exchange rate of the US Dollar to the Nigerian Naira on the black market.
Information gathered from Bureau De Change (BDC) operators.
Dollar to Naira Black Market Today Rate
If you’re interested in the current exchange rate for dollars to naira in Nigeria’s black market, you’re in the right place. Also known as the parallel market or Aboki fx, this exchange rate can fluctuate rapidly, so it’s essential to stay up-to-date.
Here’s the latest exchange rate information for the black market on Tuesday 21st February 2023: Players buy a dollar for N765 and sell it for N770, according to sources at the Bureau De Change (BDC). It’s important to note that the Central Bank of Nigeria (CBN) doesn’t recognize the parallel market (black market) and directs individuals interested in Forex to approach their respective banks.
Black Market Dollar to Naira Exchange Rate Today: Wednesday, 22nd February 2023
As of today, Wednesday, 22nd February 2023, the black market exchange rate for dollars to naira in Lagos, Nigeria, is as follows:
| Dollar to Naira Black Market Rate Today | |
|---|---|
| Dollar to Naira (USD to NGN): | Black Market Exchange Rate Today |
| Buying Rate: | N765 |
| Selling Rate: | N770 |
As you can see, the selling rate is the same as on Tuesday 21st February 2023, while the buying rate remains constant. The local currency, AbokiFx, opened at N770.00 per $1 at the parallel market, which is identical to the closing rate on Tuesday 21st February 2023.
Keeping up with the current exchange rate is crucial, whether you’re traveling or conducting business in Nigeria. Voice of Nigeria, one of the leading media outlets in the country, is here to provide you with the latest updates and insights regarding the black market dollar to naira exchange rate.
Dollar and Naira: What You Need to Know
- The exchange rate between the US dollar and the Nigerian naira affects Nigeria’s economy and people’s daily lives
- The value of the naira changes based on various factors such as the price of oil, government intervention, and the black market exchange rate
- Fluctuations in the exchange rate can bring both challenges and opportunities for Nigeria’s economy
- A strong naira can make imports cheaper and boost local businesses, while a weak naira can lead to increased inflation and decreased purchasing power for consumers
- The government and businesses need to keep an eye on the exchange rate and make plans to handle its effects
- With good management, Nigeria can aim for a strong economy that benefits everyone.
