The Dollar to Naira Black Market Exchange Rate Today is $1=650 Naira.
Questions like what is the current USD to Naira exchange rate today? If you have this question on your mind. In this article, you will see the black market and CBN exchange rate for dollars to nairas. At these rates, you can either convert your USD to Naira or convert it at the parallel market rate or black-market rate.
The high use of the US Dollars in Nigeria has made it possible that most of our exchanges are USD to NGN. Nigerians often exchange their foreign currencies—especially the US dollar—for naira using the black market because the official bank rate is set very low.
Also, in this post, we have added the Aboki fx dollar/naira exchange rate so that you can check each of the exchange rates for the currencies you wish to trade on the parallel markets. The most reliable source for the dollar/naira exchange rate on the black market is Aboki FX. Continue to read below to see the full details about the $1 rate in Nigeria.
Dollar to Naira Black Market Rate Today
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
The exchange rate in the table above is the current price of one United States dollar (USD) in Nigerian Naira (NGN). The exchange rate seems to vary following the demand and supply of USD to Naira in the parallel and black market. This article will always be updated every day as we get the new exchange rate for the Central Bank of Nigeria.
A lot of questions have been coming to our helpdesk, so we are going to answer all of them today. Firstly, Do you want to know how much $ to ₦ in the parallel market? the black-market exchange rate varies from the rate on the Central Bank of Nigeria’s official website (www.cbn.gov.ng).
1 Dollar to Naira Black Market Exchange Rate Today
The parallel (black market) exchange rate is different from the official Central Bank of Nigeria (CBN) rate. Currently, 1 dollar equals 573 Naira. The Nigerian economy has been drastically affected by the naira to U.S. dollar exchange rate.
However, with the depreciation of the naira, inflation is taking over the economy and affecting citizens. Godwin Emefiele, Governor of the Central Bank of Nigeria, said the Nigerian economy needs a major turnaround and called on Nigerians to work towards this.
How Much is a Dollar to Naira in Black Market Today?
Currently today, 1 dollar equals 573 Naira in the black-market exchange rate. However, there is always a difference from the official Central Bank of Nigeria (CBN) rate.
The black-market dollar exchange rate, also known as the Aboki market rate, is usually higher than the official Central Bank of Nigeria (CBN) exchange rate. A CBN exchange rate is the rate at which dollars can be bought or sold for naira on the CBN’s website dedicated to the exchange of dollars for naira, cbn.gov.ng.
The CBN dollar to naira bank rate is the rate you use when purchasing items from foreign websites using your Naira Mastercard or debit card from Nigerian banks. This rate is almost always lower than the rate available on the black market.
Use the comment box if you have any questions about the Dollar to Naira Black Market Exchange Rate Today.