Dollar to Naira Black Market Exchange Rate Today 1st August 2023 also known as Aboki Exchange rate can be accessed below..
Get the latest Dollar to Naira black market exchange rate for today, August 2nd, 2023, also known as the Aboki Exchange rate. Find out the buying and selling rates at the Lagos Parallel Market (Black Market) and learn about the factors that cause fluctuations in these rates.
Black Market Dollar to Naira is how much,
As of the time of filing this article, the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) stands at N860 for buying and N870 for selling.
Note that these dollar-to-naira rates are subject to change due to the hourly fluctuations caused by the volume of currency available and the demand in the market.
How much is a dollar to naira today in the black market?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N870 and sell at N875 on Wednesday, 2nd August 2023, 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.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N |
| Selling Rate | N875 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
FAQ:
- What is the Dollar to Naira black market exchange rate today, August 2nd, 2023? As of August 2nd, 2023, the Dollar to Naira black market exchange rate stands at N860 for buying and N870 for selling at the Lagos Parallel Market (Black Market).
- What is the Aboki Exchange rate for Dollar to Naira? The Aboki Exchange rate refers to the black market exchange rate for Dollar to Naira. As of August 1st, 2023, it is N860 for buying and N870 for selling.
- How much is the Dollar to Naira exchange rate for buying and selling at the Lagos Parallel Market (Black Market)? The exchange rate for Dollar to Naira at the Lagos Parallel Market (Black Market) is N860 for buying and N870 for selling.
- Are the Dollar to Naira rates subject to change and why? Yes, the Dollar to Naira rates at the black market are subject to change due to hourly fluctuations caused by the volume of currency available and the demand in the market. Currency prices can be influenced by various factors, including economic conditions, political events, and global market trends.
- Does the Central Bank of Nigeria (CBN) recognize the parallel market (black market) for Forex transactions? No, the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) for Forex transactions. The CBN has directed individuals who want to engage in Forex transactions to approach their respective banks.
- How are the black market exchange rates determined? Black market exchange rates are determined by the supply and demand dynamics in the informal currency market. They are influenced by various factors, including scarcity of foreign currency, economic conditions, geopolitical events, and government policies.
- Can I get a different rate from what is mentioned in this article when buying or selling forex? Yes, it is possible to get a different rate from what is mentioned in this article when buying or selling forex. Black market exchange rates are not fixed and can vary between different currency traders and locations. Prices may vary depending on factors such as location, the trader’s commission, and market conditions at the time of the transaction.
