Welcome to GoldenNewsNg! We provide daily updates on the dollar to naira exchange rate. Today, we present the Aboki Exchange Rate for May 23rd 2023.
How much is the Dollar to Naira Exchange rate at the black market and aboki fx today, 23rd May 2023? See today’s USD to Naira exchange rate. You convert your USD to Naira at these rates, or you convert your dollar to Naira at the most recent black market or parallel market rate.
How Much is Dollar to Naira and the Official Exchange Rate today, 23rd May 2023?
how much is dollar to naira today in black market
Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has recommended individuals interested in Forex contact their respective banks before proceeding.
The parallel exchange rate (black market rate) always differs from the CBN rate. The exchange rate between the USD and the Nigerian Naira significantly impacts the Nigerian economy.
As the Naira falls in value, inflation takes over the economy, which usually impacts the inhabitants. The Central Bank has stated that the Nigerian economy needs a significant turnaround and has asked Nigerians to work toward this goal, such as increasing exports.
The black market rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website.
The dollar-to-naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. These rates are almost always cheaper than those on the black/parallel market.
Dollar to Naira Black Market Rate Today, 23rd May 2023
dollar to naira black market exchange rate today – black market dollar to naira exchange rate
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Selling Rate | ₦ 755 |
| Buying Rate | ₦ 744 |
According to data released on the FMDQ Security Exchange, the official forex trading portal, the exchange rate between the Naira and the US dollar on Wednesday, May 22, 2023, was as follows: the Naira opened at ₦463.96 per dollar and closed at ₦464.67 per dollar.
