QUICK LOAN ARENA news platform has obtained the exchange rate of the dollar to naira black market today, September 15th, 2023 in Nigeria, including the official CBN rate.
Dollar To Naira Black Market Today Friday 15th September, 2023
As of today Friday, September 15th, 2023, the naira continue to tumble with respect to the US dollar, exchanging at 1 USD to 955 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦945 and selling at N955. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate.
Bureaux De Change (BDC) operators in Lagos and Abuja say the average buying rate of the dollar is N945 while the selling price is N955, leaving a N10 profit margin.
Dollar To Naira Black Market Today Thursday 14th September, 2023
As of Thursday September 14th, 2023, the naira continue to tumble with respect to the US dollar, exchanging at 1 USD to 950 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦940 and selling at N950. This is according to information gathered by QUICK LOAN ARENA from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N940 while the selling price is N950 per dollar, leaving a N10 profit margin.
Dollar To Naira Black Market Today Wednesday 10th September, 2023
As of Sunday September 10th, 2023, the naira continue to exchange at 1 USD to 930 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920 and selling at N930. This is according to information gathered by VERY SERIAL from Aboki FX, an online portal that monitors dollar to naira exchange rate. Bureaux De Change (BDC) operators say the buying rate of the dollar is N920 while the selling price is N930 per dollar, leaving a N10 profit margin.
Dollar To Naira Black Market Today Saturday 9th September, 2023
On Saturday September 9, 2023, the US dollar is trading at the rate of N930/$1 at the parallel market. This implies that 1 US dollar was bought for N920/$1 at the black market and sold to willing buyers at N930/$. The naira depreciation is attributable to an increased demand for the greenback as increased FX inflow has failed to lift dollar reserves and meet demand.
How much is dollar to naira today in black market September 2nd September, 2023?
As of Friday September 1st, 2023, the naira firmed up its value against the greenback to exchange at 1 USD to 915 NGN at the parallel market popularly called black market gaining 0.54%. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N910 while the selling price is N915 per dollar, leaving a N5 profit margin.
Dollar To Naira Black Market Exchange Rate Today Friday 1st September, 2023
The Nigerian naira on Thursday maintained its value at N920 against the United States dollar at the parallel segment of the foreign exchange (FX) market, otherwise called black market. Dealers reported buying the US dollar from willing sellers at N915/$ while selling at N920/$ to willing buyers.
How much is dollar to naira today in black market September 1st, 2023?
As of Thursday August 31st, 2023, the naira traded against the greenback to exchange at 1 USD to 920 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920. Bureaux De Change (BDC) operators say the buying rate of the dollar is N915 while the selling price is N920 per dollar, leaving a N5 profit margin.
How much is dollar to naira today at the Investors’ and Exporters’ (I&E) window September 1st, 2023?
Dollar was quoted at N757.52 on Thursday August 31st, 2023 at the Investors’ and Exporters’ (I&E) window, the country’s official FX market. This implies that the US dollar was purchased at N756.52 and sold at N757.52 leaving a profit margin of N1 per each US dollar sold at the investors’ and exporters’ (I & E) window segment of the market popularly called the official Central Bank of Nigeria (CBN) market. We have published details for exchange rate of naira to one US dollar, One Pounds Sterling, One Euro as well as other trading currencies for Thursday August 31st, 2023.
Find below official exchange rate of a number of currencies to the Naira from the Website of the CBN.
Dollar To Naira Black Market Exchange Rate Today Thursday 31st August, 2023
The Nigerian naira on Wednesday fell to a new low of N920 against the dollar at the parallel segment of the foreign exchange (FX) market, following strong demand for the greenback. Dealers were buying from willing sellers at N915/$ while selling at N920/$ to willing buyers.
How much is dollar to naira today in black market August 31st, 2023?
As of Wednesday August 30th, 2023, the naira lost N5 to exchange at 1 USD to 920 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦920. Bureaux De Change (BDC) operators say the buying rate of the dollar is N915 while the selling price is N920 per dollar, leaving a N5 profit margin.
During the intraday trading on Tuesday, the dollar was quoted at N920/$1, which represents 0.54 percent (N5) depreciation compared to N915 per dollar traded during the morning session.
The exchange rate gap between the official and parallel segments of the foreign exchange market has widened to N150 per dollar from N96/$1 after FX unification in June amid tight supply of the greenback.
The naira on Tuesday fell to N920- N925 per dollar at the parallel market, following strong demand for the greenback. Dealers were buying from willing sellers at N915/$ while selling at N920-N925/$ to willing buyers.
During the intraday trading on Tuesday, the dollar was quoted at N920-N925/$1, which represents 1.09 percent depreciation compared to N915 per dollar traded during the morning session.
How much is dollar to naira today in Investors’ and Exporters’ (I&E) window August 31st, 2023?
Dollar was quoted at N775.34 on Tuesday August 30th, 2023 at the Investors’ and Exporters’ (I&E) window, the country’s official FX market.
Dollar To Naira Black Market Exchange Rate Today Wednesday 30th August, 2023
As of Tuesday August 29th, 2023, the naira continue to exchange at 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.
The Nigerian naira has maintained its value, in the black market relative to the US dollar, closing at N915 to a dollar on Tuesday. The value remained at 915/$ on Tuesday.
How much is dollar to naira today in black market August 30th, 2023?
On Tuesday, August 29th, 2023, buyers in the black market purchased one US dollar for N900 and sold it for N915. Between Monday up to now, the value of the Nigeria Naira remained constant after appreciating by N5 on Friday, August 25th, 2023 when the local currency was exchanged at N915 to a Dollar.
Dollar To Naira Black Market Exchange Rate Today Tuesday 29th August, 2023
As of Monday August 29th, 2023, the naira continue to exchange at 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.
The Nigerian naira has maintained its value, in the black market relative to the US dollar, closing at N915 to a dollar on Monday. This has been the exchange rate since on Thursday. The value remained at 915/$ on Monday.
How much is dollar to naira today in black market August 29th, 2023?
On Monday, August 28th, 2023, buyers in the black market purchased one US dollar for N900 and sold it for N915. Between Friday up to Sunday, the value of the Nigeria Naira remained constant after appreciating by N5 on Friday, August 25th, 2023 when the local currency was exchanged at N915 to a Dollar.
Dollar To Naira Black Market Exchange Rate Today Monday 28th August, 2023
As of Sunday August 27th, 2023, the dollar to naira exchange rate sustained its value at 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the dollar is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.
The Nigerian naira has maintained its value, in the black market relative to the US dollar, closing at N915 to a dollar on Sunday, after appreciating by 0.54 per cent than the N920 it closed on Friday 25th August 2023. The value remained at 915/$ on Saturday and Sunday. The figure therefore represents a N5 appreciation compared to the N920 it traded on Friday.
How much is dollar to naira today in black market August 28th, 2023?
On Sunday, August 27th, 2023, buyers in the black market purchased one US dollar for N900 and sold it for N915. Between Friday up to Sunday, the value of the Nigeria Naira remained constant after appreciating by N5 on Friday, August 25th, 2023 when the local currency was exchanged at N915 to a Dollar.
Dollar To Naira Black Market Exchange Rate Today Sunday 27th August, 2023
As of Saturday August 26th, 2023, the dollar to naira exchange rate is 1 USD to 915 NGN at the parallel market popularly called black market. Buyers reported buying one US dollar for ₦915. Bureaux De Change (BDC) operators say the buying rate of the greenback is N900 while the selling price is N915 per dollar, leaving a N15 profit margin.
The Nigerian naira has maintained its value, in the black markey relative to the US dollar, closing at N915 to a dollar on Saturday, after strengthening by 0.54 per cent which represents N5, than the N920 it closed on Thursday. The value remained at 915/$ on Friday and Saturday.
The figure therefore represents a N5 appreciation compared to the N920 it traded on Thursday.
On Saturday, August 26th, 2023, buyers in the black market purchased one US dollar for N900 and sold it for N915. Between Friday and the weekend, the value of the Nigeria Naira remained constant after appreciating by N5 compared to Thursday, August 24th, 2023 when the local currency was exchanged at N900 to a Dollar.
How much is dollar to naira today in black market August 27th, 2023?
On Saturday, August 26th, 2023, buyers in the black market purchased one US dollar for N900 and sold it for N915. Between Friday and the weekend, the value of the Nigeria Naira remained constant after appreciating by N5 compared to Thursday, August 24th, 2023 when the local currency was exchanged at N900 to a Dollar.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N900 and sell at N915 on Saturday, 26th August 2023, according to data obtained by VERY SERIAL from Bureau De Change (BDC) operators.
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.
What is Black Market exchange rate For Dollar To Naira in Nigeria?
Generally, a black market is where foreign currencies are exchanged illegally for naira, through brokers, or “abokis,” as they are called in Nigeria. The parallel market premium is the difference between the parallel market rate and the official market rate paid by a black-market customer.
The exchange rate between the Dollar To Naira Black Market Today has gained momentum to N754/$1 threshold at the parallel market. This is according to information from Bureau De Change operators in Lagos State.
