If you want to convert your USD to Naira, it’s important to know today’s black market and aboki fx exchange rates, especially for the 27th of July, 2023. People in Nigeria prefer the black market’s higher conversion rate for foreign currency, particularly for the USD to Naira.
This page provides comprehensive information and the current exchange rate for dollar to Naira, covering both the CBN and the black market rates.
How Much is Dollar to Naira and the Official Exchange Rate today, 27th July 2023?
Today’s dollar to Naira exchange rate in the Nigeria black market
Note 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) is consistently higher than the CBN rate. The exchange rate between the USD and the Nigerian Naira significantly impacts the Nigerian economy.
The depreciation of the Naira can result in inflation, impacting the lives of the citizens. The Central Bank has emphasized the need for a significant turnaround in the Nigerian economy and has urged Nigerians to contribute to this effort, such as by increasing exports.
The black market rate for dollars is generally higher than the Central Bank of Nigeria (CBN) rate. 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 used for purchases from foreign websites with a Naira MasterCard or Debit card from a Nigerian bank. These rates are usually lower than those on the black market.
How Much is Dollar to Naira Black Market Rate Today, 27th July 2023
Today’s black market exchange rate for dollar to Naira
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Selling Rate | ₦ 865 |
| Buying Rate | ₦ 855 |
U.S. DOLLAR / NIGERIAN NAIRA USDNGN official chart in the last six months
convert dollar to naira
Euro to Naira Black 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.
black market rate dollar to naira
| Euro to Naira (EUR to NGN) | Exchange Rate Today |
| Buying Rate | ₦760 |
| Selling Rate | ₦780 |
Pounds to Nigeria Naira Black Market
Today’s Pounds to Naira black market rate: this is the rate Aboki/Bureau De Change (BDC) are 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.
| Pounds to Naira (GBP to NGN) | Exchange Rate Today |
| Buying Rate | ₦1135 |
| Selling Rate | ₦1150 |
Rand to Naira
Today’s Rand to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Rand is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Rand to Naira (ZAR to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦31 |
| Selling Rate | ₦38 |
Dirham to Naira
Today’s Dirham to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Dirham is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Dirham to Naira (AED to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦155 |
| Selling Rate | ₦165 |
Yuan to Naira
Today’s Yuan to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Chinese Yuan is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Yuan to Naira (CNY to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦80 |
| Selling Rate | ₦90 |
Ghanaian Cedi to Naira
Today’s Ghanaian Cedis to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Ghanaian Cedis is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Cedi to Naira (GHS to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦65 |
| Selling Rate | ₦75 |
CAD to Naira Black Market – Canadian dollar to Naira
Today’s CAD to Naira black market rate: this is the rate Aboki/Bureau De Change (BDC) are selling and buying The Canadian Dollar currency (CAD) currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| CAD to Naira (CAD to NGN) | Exchange Rate Today |
| Buying Rate | ₦ 540 |
| Selling Rate | ₦ 560 |
CBN Official Naira Exchange Rates
The Central Bank of Nigeria (CBN) Currency Exchange Rate provides the official exchange rate between the Naira and the US dollar.
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 7/26/2023 | US DOLLAR | 743.997 | 744.497 | 744.997 |
| 7/26/2023 | POUNDS STERLING | 961.4673 | 962.1135 | 962.7596 |
| 7/26/2023 | EURO | 823.3071 | 823.8604 | 824.4137 |
| 7/26/2023 | SWISS FRANC | 862.1054 | 862.6848 | 863.2642 |
| 7/26/2023 | YEN | 5.2969 | 5.3004 | 5.304 |
| 7/26/2023 | WAUA | 1058.0542 | 1058.7652 | 1059.4763 |
| 7/26/2023 | YUAN/RENMINBI | 104.043 | 104.1134 | 104.1837 |
| 7/26/2023 | RIYAL | 198.3622 | 198.4955 | 198.6288 |
| 7/26/2023 | SOUTH AFRICAN RAND | 42.0611 | 42.0893 | 42.1176 |
| 7/26/2023 | SDR | 999.7832 | 1000.4551 | 1001.127 |
What is $1 to naira in the black market?
1 dollar to naira black market – how much is naira to dollar
$1 is ₦ 865
How much is $100 in the black market today?
$100 is ₦ 86,500
How much is $100 US in Nigeria?
$100 is ₦ 86,500
What is $1 (USD) to naira in the black market?
$1 is ₦ 865
How much is $100 USD in Nigeria Black Market ?
$100 is ₦ 86,500
How much is $100 (USD) in the black market today?
$100 is ₦ 86,500
How much is the Official 1 USD in Nigerian Naira
As of July 19, the official 1 USD in Nigeria Naira is 775.173 NGN
How much is 30 dollars (USD) in Nigeria black market?
$30 is 25,950 Nigeria Naira
Dollar to Naira Factors Influencing Foreign Exchange Rates
Below are some of the factors affecting the fluctuation of the dollar to naira exchange rate.
Inflation Rates: Inflation has a direct influence on black market exchange rates. If the Nigerian economy shows stability and controls inflation, it can positively affect the Naira. However, a continuous decline in the Naira may indicate increasing daily expenses.
Interest Rates: Monitoring interest rates is crucial. Increased lending rates negatively impact the economy, leading to contraction and a subsequent drop in the value of the Naira.
Dollar to Naira EXCHANGE RATES
Government Debt: The national debt affects investor confidence and influences funds entering the economy. Higher inflows can bolster the Naira exchange rate.
Speculators: Speculators can heavily impact the Naira-to-dollar exchange rate by hoarding money in anticipation of profit, further depreciating the Naira.
Conditions of Trade: Favorable trade conditions can enhance the value of the Naira against the dollar, but Nigeria is currently facing a trade deficit, with the majority of imports coming from Asian countries such as China and India.
Fascinating Facts About the United States Dollar You Didn’t Know
Did you know that the United States dollar is our currency? Here are some interesting facts-
The dollar comprises three denominations – the penny, nickel, and dime – making up 100 cents.
It was first introduced in 1792, replacing the Spanish dollar used in the colonies.
The dollar is the most traded and counterfeited currency worldwide.
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