Black Market Dollar to Naira Today 20th June 2023, Aboki exchange rate has emerged…
Access the dollar to naira black market exchange rate for today 20th 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 ₦770 and sold at the rate of ₦775 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 N770 and sell at N775 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 | 770 |
| Selling Rate | 775 |
The local currency (abokiFx) opened at N770.00 per $1 at the parallel market otherwise known as the black market, today, Tuesday, 20th June 2023 in Lagos Nigeria, after it closed at N775.00 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 ₦775 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 | ₦770 | ₦775 |
| 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 |
CBN Officially Devalues Naira: New Exchange Rate Introduced by CBN
The Central Bank of Nigeria (CBN) has officially announced the devaluation of the naira by revising the naira-to-dollar exchange rate on its official website. The previous rate of N463 per dollar, which served as the official exchange rate for investors, importers, and exporters, has been replaced with a new rate of N632.77 per dollar. This adjustment took effect on June 14, 2023, specifically for transactions conducted through the Investors and Exporters (I&E) window.
By devaluing the naira, the CBN acknowledges the prevailing economic circumstances and recognizes the necessity of adapting the official exchange rate to reflect market dynamics more accurately. With the implementation of the new rate, the CBN aims to align the value of the naira more closely with international currency markets. This decision is anticipated to impact various sectors of the economy, including import and export businesses, as well as foreign investors involved in Nigeria.
In addition, the CBN has also provided updated exchange rates for other major currencies. For example, the British pound is now quoted at N799.75 per pound, representing a shift from the previous rate of N581.52. Similarly, the euro experienced a significant change, rising from N498.94 to N683.48 as of June 14, 2023.
