Black Market Dollar to Naira Exchange Rate Today, 12th July 2023: Aboki Exchange Rate.
Welcome to GoldenNewsNg, your trusted source of financial news. We are here to provide you with the most up-to-date information on the black market exchange rate between the US Dollar (USD) and the Nigerian Naira (NGN) as of today, 12th July 2023. Stay informed and make informed decisions regarding your currency exchange needs.
Black Market Exchange Rate: As of today, Wednesday, 12th July 2023, the parallel market, commonly known as the black market, opened in Lagos, Nigeria, with the Nigerian Naira trading at N795.00 per $1. This means that if you want to exchange US Dollars for Nigerian Naira in the black market, you can expect to receive N795 for every dollar you exchange.
Black Market Dollar to Naira Exchange Rate Table – 12th July 2023: For your convenience, here is a table showcasing the buying and selling rates for the US Dollar to Nigerian Naira exchange in the black market today:
| Currency (USD to NGN) | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N790 | N795 |
Previous Day’s Performance: To understand the market trends, it is essential to look back at the previous day’s performance. On Tuesday, 11th July 2023, the black market participants purchased the US Dollar at N786 and sold it at N790. This information gives you an idea of the recent price movements and helps you evaluate the market situation.
Current Dollar to Naira CBN Exchange Rate: Apart from the black market, let’s also take a look at the official exchange rate set by the Central Bank of Nigeria (CBN) as of 12th July 2023. The CBN exchange rate is used for official transactions and can have a significant impact on the overall economy.
CBN Exchange Rate – 12th July 2023: The CBN’s buying rate and selling rate for the Dollar to Naira remain at N776.90. These rates are set by the central bank and are typically different from the rates observed in the black market.
Disclaimer: GoldenNewsNg would like to emphasize that we do not have the authority to set or determine forex rates. We aim to provide accurate and timely information to our readers.
Exchange Rates for Other Currencies: In addition to the US Dollar, it’s crucial to stay informed about exchange rates for other major currencies. Here are the exchange rates for the British Pound (GBP) and the Euro (EUR) against the Nigerian Naira (NGN) as of 12th July 2023:
Currency Exchange Rate Table – 12th July 2023:
| Date | Currency | Selling Rate (NGN) | Buying Rate (NGN) |
|---|---|---|---|
| 12th July | US DOLLAR | 795 | 790 |
| 12th July | POUNDS STERLING | 1030 | 1010 |
| 12th July | EURO | 850 | 840 |
FAQs (Frequently Asked Questions):
Q1: What is the current black market exchange rate for the Dollar to Naira on 12th July 2023?
A: the buying rate is N790, and the selling rate is N795.
Q2: What is the official exchange rate set by the CBN for Dollar to Naira on 11th July 2023?
A: The CBN’s buying rate and selling rate for the Dollar to Naira remain at N776.90.
Q3: Where can I find the official NAFEX rates?
A: You can obtain the official NAFEX rates from the FMDQOTC website, as they are the authoritative source for such rates.
Q4: What are the exchange rates for other currencies like the British Pound and Euro against the Naira on 12th July 2023?
A: The selling rate for the Pound Sterling is N1030, with a buying rate of N1010. The Euro has a selling rate of N850 and a buying rate of N840.
Stay informed with GoldenNewsNg for the latest updates on currency exchange rates in Nigeria. Please note that exchange rates are subject to fluctuations and may vary throughout the day. It is always advisable to verify the rates before making any currency exchange transactions.
