Dollar to Naira Black Market Exchange Rate (Aboki Exchange Rate)
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SALE: ₦530.00
You are watching: What is the Dollar to Naira today? (Black market and bank rates)
BUY: ₦525.00
Naira to Dollar exchange rate ₦1 = $0.00190
US Dollar to Lagos Naira Exchange Rate Today Parallel Market (Black Market)
| NGN | BUY/SELL USD | GBPBUY / SELL | EUR BUY/SELL |
|---|---|---|---|
| May 9, 2021 | 525/530 | 715/720 | 614/620 |
| April 9, 2021 | 523/528 | 712/717 | 612/616 |
| March 9, 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 |
| From 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 Naira Dollar Rate Today
| DAY | CURRENCY | BUY (NGN) | CENTER(NGN) | SELL(NGN) |
|---|---|---|---|---|
| September 1, 2021 | U.S. DOLLAR | 409.35 | 409.85 | 410.35 |
| August 31, 2021 | U.S. DOLLAR | 409.32 | 409.82 | 410.32 |
| August 30, 2021 | U.S. DOLLAR | 409.29 | 409.79 | 410.29 |
| August 27, 2021 | U.S. DOLLAR | 409.26 | 409.76 | 410.26 |
| August 26, 2021 | U.S. DOLLAR | 409.23 | 409.73 | 410.23 |
| August 25, 2021 | U.S. DOLLAR | 409.21 | 409.71 | 410.21 |
| August 24, 2021 | U.S. DOLLAR | 409.19 | 409.69 | 410.19 |
| August 23, 2021 | U.S. DOLLAR | 409.16 | 409.66 | 410.16 |
| August 20, 2021 | U.S. DOLLAR | 409.13 | 409.63 | 410.13 |
| August 19, 2021 | U.S. DOLLAR | 409.13 | 409.63 | 410.13 |
How does CBN adjust the dollar to naira exchange rate today
Dollar exchange rate at Nigerian banks (Data source: CBN)
| CODE | NAME | BUY (₦) | MIDDLE(₦) | SELL(₦) |
|---|---|---|---|---|
| U.S. dollar | US Dollar | 409.19 | 409.69 | 410.19 |
| GBP | UK | 568.82 | 569.51 | 570.21 |
| EUR | 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 Financial Community | 0.72 | 0.73 | 0.74 |
| WAU | WEST AFRICA UNIT ACCOUNT | 583.26 | 583.97 | 584.69 |
| CNY | Chinese Yuan | 63.19 | 63.27 | 63.35 |
| SAR | Saudi Riyal | 109.11 | 109.25 | 109.38 |
| DKK | Danish Krone | 65.44 | 65.52 | 65.6 |
| XDR | International Monetary Fund (IMF) | 583.96 | 584.67 | 585.38 |
| ZAR | South African Rand | 28.53 | 28.56 | 28.6 |
Daily Review of Dollars to Naira Black Market (Lagos)
US Dollar is trading at ₦530 at Black Market (Lagos) today, September 04, 2021. Dollar started this week at ₦527 at Black Market on Monday, August 30, 2021 This causes the Dollar exchange rate to increase by 0.57% against the Naira this week.
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Looking at monthly rates, we see that the USD rate started August at ₦512 on Monday, August 02, 2021. As of today, with the US Dollar trading at ₦530, we see a 3.52% increase in the US Dollar to Naira exchange rate since the start of August last year.
USD is trading at ₦530 at the Black Market (Lagos) today, Sunday, September 5, 2021. USD was trading at ₦527 when the Black Market opened on Monday, August 30, 2021. This makes it a 0.03% gain for USD against Naira this week.
When we look at this month, USD was trading at ₦ at the beginning of this September on Wednesday, September 1, 2021. As of today, with USD trading at ₦530, we see the exchange rate % between USD and Naira this month.
Dollar to Naira exchange rate. Abokifx exchange rate in Nigeria today on the black market Dollar to NairaUSD to NGN black market rate on the black market today. How much is dollar to naira on the black market today
Main factors affecting exchange rates
Below are the factors we have identified that cause the naira or exchange rate to fluctuate.
INFLATION RATE: inflation is known to have a direct impact on black market exchange rates. If the Nigerian economy can stabilize and inflation is controlled, it will positively impact the Naira but on the other hand if the Naira continues to plunge, it could see prices of food and basic necessities others are increasing every day.
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INTEREST RATE: interest rates are another tool to monitor. If the bank lending rate increases, it will reflect negatively on the economy, causing the economy to decline and thus the naira will lose value.
GOVERNMENT DEBT: National debt can affect investor confidence and subsequently the flow of money into the economy. If inflows are high, the naira exchange rate will appreciate in favor of the naira.
SPECULATION: most of the time the naira to dollar exchange rate is influenced by speculators. They hoard money in anticipation of profits and this causes the naira to fall in price further.
TERMS OF TRADE: favorable terms of trade will lead to an increase in the value of the Naira relative to the dollar but unfortunately Nigeria is experiencing a trade imbalance. We import everything from China, India and most Asian countries.
DECLINE: recession is a pressure on the economy. This keeps investors and direct investments 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.
Source: https://anhngunewlight.edu.vn
Category: Biography