Currency Exchange Rates in Nigeria Today Thursday 30 November 2023 can be accessed below.
Good Morning Nigeria, Welcome to GoldenNewsNg ! We have compiled latest Exchange rate for most used currency in Nigeria today including Dollar to Naira Black Market rate, Pounds to Naira Exchange rate , Euro to Naira exchange rate today, Canadian dollar to naira and more. so read on
Black market currency exchange rates in Nigeria today
Today’s Dollar to Naira black market rate: This is the rate at Aboki/Bureau De Change (BDC) is selling and buying The European currency (Euro) currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Dollar to Naira (USD to NGN) | Exchange Rate Today |
| Buying Rate | ₦1,160 |
| Selling Rate | ₦1,165 |
Pounds to Naira Black Market exchange rate today 1st December 2023
Today’s Pounds to Naira black market rate: this is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Great British Pounds currency (Pounds) is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Pounds to Naira (GBP to NGN) | Exchange Rate Today |
| Buying Rate | ₦1,435 |
| Selling Rate | ₦1,450 |
Euro to Naira Black Market Exchange rate today 1st December 2023
Today’s Euro to Naira black market rate: This is the rate at Aboki/Bureau De Change (BDC) is currently selling and buying The European currency (Euro) in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Euro to Naira (EUR to NGN) | Exchange Rate Today |
| Buying Rate | ₦1,240 |
| Selling Rate | ₦1,250 |
CAD to Naira Black Market – Canadian dollar to naira
Today’s CAD to Naira black market rate: this is the rate Aboki/Bureau De Change (BDC) are selling and buying The Canadian Dollar currency (CAD) currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| CAD to Naira (CAD to NGN) | Exchange Rate Today |
| Buying Rate | ₦900 |
| Selling Rate | ₦950 |
Rand to Naira
Today’s Rand to Naira black market rate is the rate Aboki/Bureau De Change (BDC) is selling and buying. The Rand is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Rand to Naira (ZAR to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦50 |
| Selling Rate | ₦65 |
Ghanaian Cedi to Naira
Today’s Ghanaian Cedis to Naira black market rate is the rate Aboki/Bureau De Change (BDC) is selling and buying. The Ghanaian Cedis is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Cedi to Naira (GHS to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦85 |
| Selling Rate | ₦100 |
CBN Official Naira Exchange Rates
The exchange rate between the Naira and the US dollar, according to the data posted on the Central Bank of Nigeria (CBN) Currency Exchange Rate where forex is official.
| 1 USD = 799.4333 NGN |
| 1 Dollars = 799.4333 Nigerian Naira |
| The USDNGN rate as of 30 Nov 2023 |
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.
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.
