Dollar to Naira Black Market Exchange Rate January 3rd, 2024
What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of January 3rd, 2024, the dollar to naira exchange rate is 1 USD to 1220 NGN at the black market.
What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of January 3rd, 2024, the dollar to naira exchange rate is 1 USD to 1220 NGN at the black market.
This means that for every one US dollar, you can exchange it for ₦1220, News About Nigeria reports.
How Much is Dollar to Naira Today in the Black Market?
This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. However, you can buy and sell 1 USD at ₦1220 and ₦1210 as of the time of writing today.
What is the current exchange rate of the dollar to naira in the black market today?
According to News About Nigeria, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for ₦1220 and sold for ₦1210.
Exchange Rate of Dollar To Naira in Black Market Today?
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Buying Rate
1210
Selling Rate
1220
Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks
Date
Currency
Buying(NGN)
Central(NGN)
Selling(NGN)
12/29/2023
US DOLLAR
898.893
899.393
899.893
12/29/2023
POUNDS STERLING
1143.302
1143.938
1144.5739
12/29/2023
EURO
993.9959
994.5488
995.1017
12/29/2023
SWISS FRANC
1070.1107
1070.706
1071.3012
12/29/2023
YEN
6.3441
6.3476
6.3511
12/29/2023
CFA
1.4854
1.4954
1.5054
12/29/2023
WAUA
1200.9453
1201.6133
1202.2813
12/29/2023
RIYAL
239.692
239.8253
239.9587
12/29/2023
DANISH KRONA
133.3432
133.4173
133.4915
12/29/2023
SDR
1206.0447
1206.7156
1207.3864
News About Nigeria understands that although the dollar to naira opened at N1220 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.
On Wednesday, January 3rd, 2023, individuals in the black market purchased one US dollar for N1220 and sold it for N1210. This shows that the value of the Naira has improved when compared to Thursday, December 21st, 2023 when the local currency was sold at N1225 to a Dollar and a Dollar was purchased at N1228.
To stay informed about the dollar to naira exchange rate, there are several reliable sources that you can turn to. Here are some tips for staying up-to-date:
Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
Follow financial news outlets: Financial news outlets such as News About Nigeria, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.
By staying informed about the dollar-to-naira exchange rate, you can make informed decisions when buying or selling foreign currencies. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. Keep these tips in mind and stay informed about the latest trends in the global currency markets.
