Black market Dollar to Naira Exchange rate today Monday 30th January 2023 – Aboki fx rate, can be accessed below.
Dollar to Naira Exchange Rate today 30th Jan 2023: are you searching for aboki dollar to naira today,how much is dollar to naira today in black market,100 dollars to naira black market today, abokifx exchange rate in nigeria today black market,dollar to naira today black market nairaland, dollar to naira bank rate today, dollar to naira yesterday, aboki exchange rate today in lagos,abokifx exchange rate in nigeria today black market, aboki exchange rate today in lagos, aboki dollar rate, dollar to naira yesterday, aboki exchange rate? read on GoldenNewsNg has compiled all exchange rate , including bank rates below.
IMPORTANT NOTE: The exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. It means that…you can buy or sell 1 dollar at ₦752 and ₦755, and the price can change (high or low) within hours.
In the parallel market, Aboki refers to the Hausa people who buy and sell dollars in the streets of Lagos and other major cities in Nigeria.
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How much is naira to dollar in black market today? Many of the dealers said they have struggled to trade after abokiFX.com, a website that collates parallel market rates in Lagos, stopped publishing parallel market rates in September 2021, after the Central Bank of Nigeria threatened its owner.
January 30 dollar to naira black market exchange rate: $1 dollar to naira = ₦755
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
The local currency opened at N755.00 per $1 at the parallel market otherwise known as the black market today Monday, 30 January 2023, in Lagos Nigeria, after it closed at N750 per $1 on sunday, 29 January 2023.
Even though the dollar to naira opened in the parallel market at N755 per $1 today, GoldenNewsNg reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
GoldenNewsNg reports that in the black market, the players buy a dollar for N752 and sell for N755 on Monday morning, January 30, 2023, after they purchased N748 and sold for N750 on the 29 January 2023.
Meanwhile, GoldenNewsNg reports that the USD started this week at ₦757 in Parallel Market also known as Black Market on Monday, January 23, 2023, in Lagos Nigeria, after it opened at ₦747 last week Monday, January 16, 2023.
Dollar to Naira Bank Rate today
As of today, the exchange rate dollar to naira black market is different from the bank rate which is N460/1$. According to GoldenNewsNg research, one United States Dollar equals 460.00 Nigerian Naira.
Just recently, the Central Bank of Nigeria devalued the naira by 7.6% against the dollar. This has weakened Naira to a four-year low in the parallel market after the central bank’s efforts to coax banks to sell more dollars to customers failed to bridge the widening gap between the official and street rates. Dollar to Naira Today
Dollar to Naira Rate for Past 7 Days
|January 29, 2023||750||745|
|January 28, 2023||753||748|
|January 27, 2023||753||748|
|January 26, 2023||752||748|
|January 25, 2023||755||746|
|January 26, 2023||748||744|
|January 25, 2023||746||742|
When we checked on local dealers reports on forex in Lagos and Abuja respectively the Dollar To Naira Exchange Rate remains
752, this means you can buy Dollar at 752 while you can sell at 748
Disclaimer:GoldenNewsNg does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
Factors Influencing Foreign Exchange Rates
Here are some of the causes of the dwindling dollar to naira exchange rate.
Inflation Rates: It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is controlled, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.
Interest Rates: Another tool to keep an eye on is interest rates. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall.
Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. If inflows are high, the naira exchange rate will rise in favour of the naira.
Speculators: Speculators frequently impact the naira-to-dollar exchange rate. They stockpile money in anticipation of a gain, causing the naira to plummet even lower.
Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. Everything comes from China, India, and the majority of Asian countries.