Latest Dollar to Naira Exchange Rate today 2022 Bank & Aboki FX Rate has been compiled by this reporter.
GoldenNewsNg reports the dollar to naira exchange rate at the official market, as well as, dollar to naira black market exchange rate, Dollar to Naira Aboki FX for each day during the week will be accessed by our readers.
IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. What it means is that…you can buy or sell 1 dollar at ₦608 and the price can change (high or low) within hours.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Selling Rate | 608 |
| Buying Rate | 603 |
| Pounds to Naira (USD to NGN) | CBN Official Exchange Rate Today |
| Selling Rate | 415 |
| Buying Rate | 415 |
Note: Naira sells for N435/$1 At Official Market as a result of a slight Adjustment made by CBN Forex Rate , which puts the CBN rate at N413.49/$1
Dollar, Pounds, Euro to Naira Today – GBP to Naira Today
| Date | Currency | Selling(NGN) | Buying(NGN) |
May 29, 2022 | US DOLLAR | 608 | 603 |
May 29, 2022 | POUNDS STERLING | 748 | 740 |
May 29, 2022 | EURO | 635 | 625 |
USD is being traded at ₦608 in Black Market(Lagos) today, Sunday, May 29, 2022. USD has been traded at ₦590 when Black Market opened this week on Monday, May 23, 2022. This makes it 0.18% rise for USD against Naira this week.
When we look at this month, USD was traded at ₦570 at the beginning of this May on Monday, May 2, 2022. As at today with USD being traded at ₦608 we see a 0.38% rise for USD to Naira exchange rate for this month.
Dollar to Naira Throughout the Week
Black Market Dollar To Naira Exchange Rate Today 28th May 2022
What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx). See the black market Dollar to Naira exchange rate for 27th May, 2022 below. You can swap your dollar to Naira at these rates.
How much is dollar to naira today in black market?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N580 and sell at N604 on Friday, 27th May, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Black Market Dollar To Naira Exchange Rate Today 24 May 2022
IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. What it means is that…you can buy or sell 1 dollar at ₦605 and the price can change (high or low) within hours.
How much is the exchange rate of Dollar to Naira in Black Market today?
The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).
LAGOS PARALLEL MARKET RATES May 24, 2022 (BLACK MARKET): dollar to naira exchange rate today black market
May 24 dollar to naira black market exchange rate: $1 dollar to naira = ₦605
Lagos parallel market (black market dollar exchange rate today)
The local currency opened at N605.00 per $1 at the parallel market otherwise known as the black market, today, Tuesday, 24 May 2022, in Lagos Nigeria, after it closed at N605.00 per $1 on Monday, 23 May 2022.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 580 |
| Selling Rate | 604 |
Black Market Dollar To Naira Exchange Rate Today 23rd May 2022
LAGOS PARALLEL MARKET RATES Monday, May 23rd, 2022 (BLACK MARKET)
How much is the exchange rate of Dollar to Naira in the Black Market today?
The exchange rate of Dollar to Naira in the Parallel Market (Aboki Dollar Rate) Today Monday 23rd, 2022 = ₦605/$1
The Lagos Parallel Market (Black Market) players buy a dollar for ₦605 and sell at ₦610 on Monday, May 23rd, 2022, according to data obtained from Bureau De Change (BDC).
Black Market Dollar To Naira Exchange Rate Today 20 May 2022
Dollar to naira exchange rate for Friday, May 20 goes for [N593 to buy and N597 to sell].
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 593 |
| Selling Rate | 597 |
Lagos parallel market (black market dollar exchange rate today: $1 dollar to naira today black market)- Aboki dollar rate
Key Factors that Affect Foreign Exchange Rates
Here are factors we have identified that make naira or exchange rate to fluctuate.
INFLATION RATES: inflation is known to have a direct impact on blackmarket exchange rate. If the Nigerian economy can be stable and inflation put under control, it will impact positively on the Naira but on the other hand if the Naira continues to nose dive down it could tell that the prices of food and other basic necessities are getting higher on daily basis.
INTEREST RATES: interest rates is another instrument to watch. If the rate at which bank lends money out goes up then it will reflect negatively on the economy, making the economy to contract and hence naira will suffer a fall in value.
GOVERNMENT DEBT: National debt can influence investors confidence and subsequently inflow of dollars into the economy. If inflows are high naira exchange rate will appreciate favourably to the Naira.
SPECULATION: most times naira to dollar exchange rate are influenced because of speculators. They hoard money in anticipating gain and this makes naira to fall further.
TERMS OF TRADE: favourable terms of trade will lead to increase in the value of Naira to dollar but unfortunately Nigeria is experiencing an imbalance terms is trade. We import everything from China, India and most of Asians countries.
RECESSION: recession is a stress on the economy. This scares investors and direct investment away from the economy. Nigeria experienced recession in 2016 and a third recession in 2020 due to fall in oil price and Covid-19 impact on world economy.
