GoldenNewsNG
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
No Result
View All Result
Golden News
No Result
View All Result

Dollar to Naira: Aboki Exchange Rate in Nigeria Today 26th May 2023

Enudi Golden by Enudi Golden
January 11, 2024
in business, General Information, Headline
Reading Time: 2 mins read
Dollar to Naira Black Market Rate Today 21 September 2023
2.7k
SHARES
Advertisements

Dollar to Naira, the Aboki exchange rate in Nigeria today, 26th May 2023 can be accessed below.

What is the Dollar to Naira black market exchange rate today? See the black market dollar to naira exchange rate today below. You can swap your dollar for naira at these rates.

GoldenNewsNg has obtained the official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates. Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market. As of now, you can purchase 1 dollar at ₦770 and sell it at ₦778, however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within hours.

READ ALSO

FG Commences Free Training for 100,000 Youths on Finance, Trade and Entrepreneurship

NELFUND Clarifies Upkeep Loan Disbursement and Application Process

What is the Dollar to Naira black market exchange rate today?

The local currency (abokiFx) opened at N770.00 per $1 at the parallel market otherwise known as the black market, today, Friday, May 26, 2023, in Lagos Nigeria.

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today 26th May 2023

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate ₦770
Selling Rate ₦778

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.

📢 JOIN OUR WHATSAPP GROUP 📢 JOIN OUR TELEGRAM CHANNEL
Previous Post

NPower Nexit Update Today 26th May 2023

Next Post

FG Commence Disbursement OF N50000 To GEEP 2.0 Beneficiaries

Related Posts

FG Commences Free Training for 100,000 Youths on Finance, Trade and Entrepreneurship

FG Commences Free Training for 100,000 Youths on Finance, Trade and Entrepreneurship

The Federal Government has opened registration for a nationwide programme that will train 100,000 Nigerian youths in financial literacy, global...

Read moreDetails

NELFUND Clarifies Upkeep Loan Disbursement and Application Process

NELFUND Clarifies Upkeep Loan Disbursement and Application Process

NELFUND has clarified the Upkeep Loan Disbursement and Application Process GoldenNewsNg reports that the Nigerian Education Loan Fund (NELFUND) has...

Read moreDetails

ASUU Gears Up for Nationwide Protests, Strike Threat Looms

ASUU protests 2025,

Academic activities in Nigeria’s universities may soon be disrupted, as lecturers prepare for nationwide protests across branches. GoldenNewsNg gathered that...

Read moreDetails

FG to Begin Forest Guards Recruitment, Up to 5,000 Officers Per State

Forest Guards Recruitment,

The Federal Government has begun the process of recruiting thousands of forest guards across the country as part of efforts...

Read moreDetails

Tinubu Announces New Subsidy, Gives Other Details

President Tinubu Approves Subsidy on Kidney Dialysis, Slashes Cost to ₦12,000 — See List of Hospitals

President Tinubu Approves Subsidy on Kidney Dialysis, Slashes Cost to ₦12,000 — See List of Hospitals President Bola Tinubu has...

Read moreDetails

₦2m Grant Up for Grabs: Grooming Endowment Trust Calls Nigerian Startups to Apply

Grooming Endowment Trust - GETAccelerate 2025

Grooming Endowment Trust Opens 4th Cohort for Nigerian Startups Small business owners and startup founders in Nigeria have another shot...

Read moreDetails

IBB @84: Don’t relent in your prayers for Nigeria- Gen. Babangida urges Christians, Muslims

  CAN Representatives visit to Gen. IBB ... Says Nigeria’s existence lies in your hands   BY OUR REPORTER NIGERIA’S former...

Read moreDetails

Naira Slips Against Dollar in Both Official and Black Markets — Here’s the Latest Rates

Naira Slips Against Dollar in Both Official and Black Markets

The naira started the new trading week on a weaker note, slipping against the United States dollar in both the...

Read moreDetails

Is NELFUND a Loan or Free Educational Support from FG? Here is the Truth

Is NELFUND a Loan or Free Educational Support from FG

As thousands of Nigerian students begin applying for the Nigerian Education Loan Fund (NELFUND), one key question keeps coming up:...

Read moreDetails

NELFUND Disburses ₦238.9m to Niger Delta University Students

NELFUND Issues New Guidelines on Student Loan Upkeep Disbursement

The Nigerian Education Loan Fund (NELFUND) has released a total of ₦238.91 million to support students of Niger Delta University...

Read moreDetails
Load More
Next Post
All You Need to Know about GEEP loan that the federal government is offering currently

FG Commence Disbursement OF N50000 To GEEP 2.0 Beneficiaries

SEARCH ADS

Latest Posts

FG Commences Free Training for 100,000 Youths on Finance, Trade and Entrepreneurship
Headline

FG Commences Free Training for 100,000 Youths on Finance, Trade and Entrepreneurship

Why Many Students May Lose Access to Nelfund Upkeep Loans
Education

Why Many Students May Lose Access to Nelfund Upkeep Loans

NELFUND Clarifies Upkeep Loan Disbursement and Application Process
Education

NELFUND Clarifies Upkeep Loan Disbursement and Application Process

NELFUND Issues New Guidelines on Student Loan Upkeep Disbursement
Education

NELFUND Issues New Guidelines on Student Loan Upkeep Disbursement

Tinubu Under Pressure to Declare August 21 Public Holiday
News

Tinubu Under Pressure to Declare August 21 Public Holiday — See Why

ASUU protests 2025,
Education

ASUU Gears Up for Nationwide Protests, Strike Threat Looms

Wema Bank Begins Activating YEIDEP Accounts for Applicants
Jobs

Wema Bank Begins Activating YEIDEP Accounts for Applicants

Forest Guards Recruitment,
Headline

FG to Begin Forest Guards Recruitment, Up to 5,000 Officers Per State

President Tinubu Approves Subsidy on Kidney Dialysis, Slashes Cost to ₦12,000 — See List of Hospitals
Headline

Tinubu Announces New Subsidy, Gives Other Details

Grooming Endowment Trust - GETAccelerate 2025
business

₦2m Grant Up for Grabs: Grooming Endowment Trust Calls Nigerian Startups to Apply

© 2024 Golden News

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions
No Result
View All Result
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us

© 2024 Golden News