Dollar to Naira Black Market Exchange Rate Today 3rd April 2022 can be accessed below..
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 ₦588 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 | 588 |
| Buying Rate | 583 |
| Pounds to Naira (USD to NGN) | CBN Official Exchange Rate Today |
| Selling Rate | 416 |
| Buying Rate | 416 |
You have to understand that the Naira is under pressure, leaving the FX market in a constant state of flux. You can’t predict what the market will turn out to be but we are trying our best to track what rate the USD/Naira are traded on daily basis.
| Date | Currency | Selling(NGN) | Buying(NGN) |
April 3, 2022 | US DOLLAR | 588 | 583 |
April 3, 2022 | POUNDS STERLING | 777 | 770 |
April 3, 2022 | EURO | 638 | 630 |
A correspondent, who visited the ever-busy Wuse Zone 4 which is the hub of bureau de change operators in Abuja, observed that the dollar was sold for 583 as opposed to the 588 it was sold for previous.
In Lagos, the dollar was sold at 583 while in Kano it was 583.
How Much is Dollar to Naira Official Exchange Rate Today
Parallel exchange rate (black market) exchange rate is always different from CBN rate. Currently, Naira is trading at 588 Naira Per Dollar. The Nigerian Economy is drastically affected by the Dollar to Naira exchange rate.
As Naira is falling, inflation takes over the economy which usually affects the citizens. Central Bank Governor, Godwin Emefiele has said that the Nigerian Economy needs a massive turnaround and has urged Nigerians to work towards it.
The black market commonly referred to as Aboki market rate for dollars is usually higher than the exchange rate at the banks which is usually regulated by the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate you can buy or sell dollars for naira listed on CBN dollar to naira website cbn.gov.ng.
Dollar to Naira bank rate is the rate you use when purchasing something from foreign websites using your Naira Mastercard or Debit card from Nigerian Banks. These rate normally would always be lower than what is obtainable in the black market.
What’s your Opinion on Dollar to Naira Black Market Exchange Rate Today, let us know what you think and how the Government can work with the CBN to provide reasonable USD to naira rates in the future.
