Black Market Dollar to Naira Rate (Aboki FX Rate)
SALE: ₦530.00
BUY: ₦525.00
Naira to Dollar exchange rate ₦1 = $0.00190
US Dollar to Lagos Naira Exchange Rate Today Parallel Market (Black Market)
| NGN | USDBUY / SELL | GBP BUY / SELL | EURBUY / SELL |
|---|---|---|---|
| 05/09/2021 | 525 / 530 | 715/720 | 614/620 |
| 04/09/2021 | 523/528 | 712/717 | 612/616 |
| 09/03/2021 | 522/526 | 710/715 | 606 / 612 |
Convert dollars to naira on the black market
| Dollar | Naira |
|---|---|
| 1 Dollar to Naira | ₦ 530 |
| 5 dollars to Naira | ₦ 2,650 |
| 10 dollars to Naira | ₦ 5,300 |
| 20 dollars to Naira | ₦ 10,600 |
| 50 dollars to Naira | ₦ 26,500 |
| 100 dollars to Naira | ₦ 53,000 |
| 200 dollars to Naira | ₦ 106,000 |
| 500 dollars to Naira | ₦ 265,000 |
| 1000 dollars to Naira | ₦ 530,000 |
| 2000 dollars to Naira | ₦ 1,060,000 |
| 5000 dollars to Naira | ₦ 2,650,000 |
CBN Dollar to Naira Rate Today
| DAY | MONEY | BUY (NGN) | CENTER (NGN) | SELL (NGN) |
|---|---|---|---|---|
| 09/01/2021 | US DOLLARS | 409.35 | 409.85 | 410.35 |
| August 31, 2021 | US DOLLARS | 409.32 | 409.82 | 410.32 |
| August 30, 2021 | US DOLLARS | 409.29 | 409.79 | 410.29 |
| August 27, 2021 | US DOLLARS | 409.26 | 409.76 | 410.26 |
| August 26, 2021 | US DOLLARS | 409.23 | 409.73 | 410.23 |
| August 25, 2021 | US DOLLARS | 409.21 | 409.71 | 410.21 |
| August 24, 2021 | US DOLLARS | 409.19 | 409.69 | 410.19 |
| August 23, 2021 | US DOLLARS | 409.16 | 409.66 | 410.16 |
| August 20, 2021 | US DOLLARS | 409.13 | 409.63 | 410.13 |
| August 19, 2021 | US DOLLARS | 409.13 | 409.63 | 410.13 |
How CBN Adjusts Dollar to Naira Exchange Rate Today
Nigerian Dollar Exchange Rates (Data Source: CBN)
| CODE | NAME | BUY (₦) | CENTER (₦) | SELL (₦) |
|---|---|---|---|---|
| US Dollar | US Dollar | 409.19 | 409.69 | 410.19 |
| British Pound | British Pound | 568.82 | 569.51 | 570.21 |
| Euro | Euro member countries | 486.69 | 487.29 | 487.88 |
| CHF | Swiss Franc | 444.58 | 445.12 | 445.66 |
| XOF | African Financial Community BC | 0.72 | 0.73 | 0.74 |
| XAF | CFA African Finance Community | 0.72 | 0.73 | 0.74 |
| WAU | WEST AFRICAN UNIT ACCOUNT | 583.26 | 583.97 | 584.69 |
| Chinese Yuan | Chinese Yuan | 63.19 | 63.27 | 63.35 |
| SAR | Saudi Arabian Riyal | 109.11 | 109.25 | 109.38 |
| Condition | Danish Krone | 65.44 | 65.52 | 65.6 |
| XDR | International Monetary Fund (IMF) | 583.96 | 584.67 | 585.38 |
| VND | South African Rand | 28.53 | 28.56 | 28.6 |
Daily Rate of Dollar to Naira Black Market (Lagos)
The US Dollar was trading at ₦530 at the Black Market (Lagos) today, 04 September 2021. The Dollar started this week at ₦527 at the Black Market on Monday, 30 August 2021. This represents a 0.57% increase in the Dollar rate against the Naira this week.
When we look at the monthly rates, we see the USD rate started August at ₦512 on Monday, August 02, 2021. As of today, with the US dollar rate trading at ₦530, we see the dollar to naira exchange rate has increased by 3.52% since the beginning of August last year.
USD was trading at ₦530 at the Black Market (Lagos) today, Sunday, September 5, 2021. USD was trading at ₦527 when the Black Market opened this week on Monday, August 30, 2021. This represents a 0.03% increase for USD against Naira this week.
As we look at this month, USD was trading at ₦ at the start of September on Wednesday, September 1, 2021. As of today, with USD trading at ₦530, we see the USD to Naira exchange rate is % this month.
Dollar to naira exchange rate. Abokifx exchange rate in Nigeria today on the black market Dollar to nairaUSD to NGN exchange rate on the black market today. What is the dollar to naira exchange rate today on the black market
Key factors affecting exchange rates
Here are the factors we have identified that cause the exchange rate or naira to fluctuate.
INFLATION RATE: Inflation is known to have a direct impact on the black market exchange rate. If the Nigerian economy can stabilize and inflation is controlled, it will have a positive impact on the Naira but on the other hand if the Naira continues to plummet, it could mean that the prices of food and other basic necessities are going up on a daily basis.
INTEREST RATES: Interest rates are another tool to watch. If the interest rates that banks lend at increase, it will reflect negatively on the economy, causing the economy to slow down and thus the naira to lose value.
GOVERNMENT DEBT: National debt can affect investor confidence and subsequently the flow of dollars into the economy. If the inflow is high, the naira exchange rate will appreciate in favor of the naira.
SPECULATION: Most of the time the naira to dollar exchange rate is affected by speculators. They hoard money expecting profits and this causes the naira to depreciate further.
TERMS OF TRADE: Favourable terms of trade will lead to appreciation of Naira against the dollar but unfortunately Nigeria is experiencing imbalance in terms of trade. We import everything from China, India and most Asian countries.
RECESSION: A recession is a pressure on an economy. This causes investors and direct investment to stay away from the economy. Nigeria experienced a recession in 2016 and a third recession in 2020 due to falling oil prices and the impact of Covid-19 on the world economy.
