Dollar to Naira: Aboki Exchange Rate Today 10th May 2023 can be accessed below.

The exchange rate between the US Dollar (USD) and the Nigerian Naira (NGN) is a crucial economic indicator that impacts individuals, businesses, and the economy as a whole. The Aboki Exchange Rate is a popular name for the informal market that deals in foreign currency exchange in Nigeria. As of today, May 10th, 2023, the Aboki exchange rate for the US Dollar to Nigerian Naira is a key point of interest for many, as it affects the prices of goods and services in the country. In this article, we will provide the latest updates on the dollar to Naira exchange rate from Aboki and explore its impact on the Nigerian economy.

According to the report, Black market rate depreciates to N740/$1 on 9th May 2023.

Black market Dollar to Naira rate: Aboki Exchange Rate Today

Naira/Dollar (NGN/USD)

• Buy rate – N740/$1
• Sell rate – N745$1

Naira/Pound (NGN/GBP)

• Buy rate – N920/£1
• Sell rate – N932/£1

Naira/Euro (NGN/EUR)

• Buy rate – N795/€1
• Sell rate – N810/€1

However, the FX rate at the cryptocurrency P2P Exchange market recorded a marginal appreciation of 0.03% to trade at a minimum of N744.77/$1, from N745/$1 that was recorded in the previous trading session. This is according to data culled from a P2P exchange platform.

Breakdown of the peer-to-peer rates is given below:

Naira/Dollar (NGN/USD)

• Buy rate – N744.05/$1
• Sell rate – N744.77/$1

Naira gains at black market, trades at N738/$1 on 8th May 2023Naira appreciated against the US Dollar to trade at an average of N738/$1 at the black market on Monday, 8th May 2023. This represents an improvement of 0.94%, in contrast to the N745/$1 that was recorded last week Friday.

This is according to information obtained by Nairametrics from BDC traders.

The exchange rate started the year at N736/$1 and recorded its highest rate at N775/$1 on 20th February 2023 and lowest at N730/$1 on 5th January 2023.

Similarly, the exchange rate between the naira and Pound strengthened to trade at an average of N933/£1 on Monday, 8th May 2023, representing a 0.21% rise from N935/£1 recorded in the last trading session.

Likewise, naira recorded an appreciation of 0.25% against the Euro to trade at N808/€1 on Monday, 8th May 2023, compared to N810/€1 it recorded on Friday, 5th May 2023.

Meanwhile, it is worth noting that the black-market rate varies across different locations in the country where Nairametrics surveyed, time of survey, demand and supply, purchasing power etc.

Breakdown of the black-market rates is given below:

Naira/Dollar (NGN/USD)

• Buy rate – N734/$1
• Sell rate – N738/$1

Naira/Pound (NGN/GBP)

• Buy rate – N912/£1
• Sell rate – N933/£1

Naira/Euro (NGN/EUR)

• Buy rate – N792/€1
• Sell rate – N808/€1

However, the FX rate at the cryptocurrency P2P Exchange market depreciated by 0.38% to trade at a minimum of N745/$1, from N742.98/$1 that was recorded in the previous trading session. This is according to data culled from a P2P exchange platform.

Breakdown of the peer-to-peer rates is given below:

Naira/Dollar (NGN/USD)

• Buy rate – N742.98 /$1
• Sell rate – N745/$1