Dollar to naira today black market (USD to NGN)
It is very important to keep up with the current exchange rates in Nigeria especially those who at one point of the other will need to change currencies if they want to travel abroad. The dollar to naira exchange rate fluctuates frequently and it has been depreciating for a while now so there is a need to stay updated. Continue reading this article to find out more about the current dollar to naira exchange rates at the black market.
The exchange rate in black market always differs from that of The Central Bank of Nigeria (CBN). The exchange rate at the black market is higher than that of the bank which is regulated by CBN and this is why so many Nigerians prefer to convert their dollars to naira at the black market or parallel market. The CBN rate is much cheaper than that of the black market and it is the rate used when purchasing from a foreign website and payment is made from a Nigerian card.
How much is dollar to naira in black market today?
Aboki fx dollar to naira exchange rate is a trusted or verified source for black market dollar to naira today. Dollar to naira black market rate today is traded at 710 naira per dollar. This is a drastic change or fall in the value of naira. According to IMF (International Monetary Fund) Naira has fallen against the dollar by 10.7% annually since 1973.
Dollar(USD) to naira(NGN)
Black market exchange rate
Buying rate
680
Selling rate
710
Note that CBN doesn’t recognize the black market and they refer individuals to various banks to convert their currency.
Dollar(USD) to naira(NGN)
Exchange rate at CBN
Buying/selling rate
N416.37
This fall in the value of naira continues to affect the Nigerian economy badly and this leads to inflation in the Nigerian economy and every Nigerian citizen is affected by this inflation. The fall in the value of naira seems not to be a shock to some as they have predicted it with the rate at which the value was falling. It is not up for debate the fact that the Nigerian economy needs an intervention and a great change.
Mr. Osita Nwanisobi, the director at cooperate communications at CBN also advised Nigerians to play their role by actively seeking solutions to these challenges.
It is very important to keep up with the current exchange rates in Nigeria especially those who at one point of the other will need to change currencies if they want to travel abroad. The dollar to naira exchange rate fluctuates frequently and it has been depreciating for a while now so there is a need to stay updated. Continue reading this article to find out more about the current dollar to naira exchange rates at the black market.
The exchange rate in black market always differs from that of The Central Bank of Nigeria (CBN). The exchange rate at the black market is higher than that of the bank which is regulated by CBN and this is why so many Nigerians prefer to convert their dollars to naira at the black market or parallel market. The CBN rate is much cheaper than that of the black market and it is the rate used when purchasing from a foreign website and payment is made from a Nigerian card.
How much is dollar to naira in black market today?
Aboki fx dollar to naira exchange rate is a trusted or verified source for black market dollar to naira today. Dollar to naira black market rate today is traded at 710 naira per dollar. This is a drastic change or fall in the value of naira. According to IMF (International Monetary Fund) Naira has fallen against the dollar by 10.7% annually since 1973.
Dollar(USD) to naira(NGN)
Black market exchange rate
Buying rate
680
Selling rate
710
Note that CBN doesn’t recognize the black market and they refer individuals to various banks to convert their currency.
Dollar(USD) to naira(NGN)
Exchange rate at CBN
Buying/selling rate
N416.37
This fall in the value of naira continues to affect the Nigerian economy badly and this leads to inflation in the Nigerian economy and every Nigerian citizen is affected by this inflation. The fall in the value of naira seems not to be a shock to some as they have predicted it with the rate at which the value was falling. It is not up for debate the fact that the Nigerian economy needs an intervention and a great change.
Mr. Osita Nwanisobi, the director at cooperate communications at CBN also advised Nigerians to play their role by actively seeking solutions to these challenges.
Last edited: