Black Market Dollar to Naira Today 17th June 2023, Aboki exchange rate has emerged…
Access the dollar to naira black market exchange rate for today 17th June 2023, on GoldenNewsNg.
Dollar to naira black market exchange rate today black market (Aboki dollar rate):
Black Market Dollar to Naira is how much,
Here are currency dealers in Abuja Zone 4 market, Lagos, Nigeria said a dollar was bought at the rate of ₦755 and sold at the rate of ₦760 today.
How Much Is the Dollar To Naira Exchange Rate Today?
GoldenNewsNg understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N755 and sell at N760 as of the time of filing this report.
Exchange Rate of Dollar To Naira in Black Market Today?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 755 |
| Selling Rate | 760 |
The local currency (abokiFx) opened at N755.00 per $1 at the parallel market otherwise known as the black market, today, Saturday, 17th June 2023 in Lagos Nigeria, after it closed at N760.00 per $1.
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 ₦760 and the price can change (high or low) within hours.
The present buying and selling rates of United States Dollars (USD) on the unofficial parallel market are provided below for Bureau De Change (BDC) operators in Lagos and Abuja, also known as the black market.”
Black Market Exchange Rate for Most Used Currency in Nigeria
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| USD to NGN | ₦755 | ₦760 |
| GBP to NGN | ₦900 | ₦920 |
| EUR to NGN | ₦750 | ₦800 |
| CAD to NGN | ₦560 | ₦600 |
| ZAR to NGN | ₦31 | ₦38 |
| AED to NGN | ₦180 | ₦200 |
| CNY to NGN | ₦80 | ₦90 |
| GHS to NGN | ₦40 | ₦55 |
| XOF to NGN | ₦1050 | ₦1100 |
| XAF to NGN | ₦920 | ₦950 |
Suspense In Black Market As CBN Orders Nigeria Banks To Freely Buy and Sell Dollars
The Central Bank of Nigeria (CBN) has reportedly instructed banks to conduct foreign exchange trading at any exchange rate within the Investors & Exporters (I&E) window, based on willing buyer, willing seller arrangements. This directive is believed to have put the unofficial naira black market for dollars in a state of uncertainty. The I&E window exchange rate has already experienced a significant increase, reaching N610 per dollar as of 12:50 pm on Wednesday, compared to the previous rate of N471.67 on Tuesday night.
Although the CBN has not officially commented on this development, two banking executives have confirmed the directive. The move follows recent controversies after a major newspaper reported that the CBN was planning to devalue the naira, allowing the exchange rate to reach up to N750.
While the CBN’s directive may not directly abolish the naira black market for dollars and other foreign exchange platforms, it is anticipated to have some impact on the sector. Mr. Babajide Komolafe, Vanguard Economy Editor, explained that the increased flow of foreign exchange to banks would instill confidence in individuals seeking to transact, as they can now buy or sell the dollar at similar rates to those offered in the parallel or black market. He further emphasized that this measure has been implemented in the past without completely eliminating the black market.
