Aboki dollar to naira today black market exchange rates, December 3, 2023.
What is the Dollar to Naira black market exchange rates today?
As we navigate the ever-changing economic landscape, the significance of the prevailing black market exchange rate between the Dollar and Naira cannot be emphasized enough. Starting from December 3, 2023, we embark on a thorough analysis of the present rate, offering a detailed overview gathered from diverse sources. Stay tuned for insightful updates on this vital facet of Nigeria’s economic terrain.
Dollar to Naira Today Black Market – Abokifx
The Black Market Dollar to Naira Rates are tabulated below:
According to reports obtained from bureau de change (BDC) operators, the current black market rates are as follows:
- Buying: ₦1162 for $1
- Selling: ₦1165 for $1
Street vendors are currently acquiring US dollars at ₦1162 and reselling them at ₦1165, highlighting a significant difference when compared to the official exchange rate for Dollars to Nairas.
Pound to Naira rate
-
- BUY: dollar to pound 1455
- SELL: pound to euro 1470
Euro to Naira rate
-
- BUY: dollar to euro 1255
- SELL: dollar to euro 1275
Crude Oil Price Per Barrel in Nigeria Today – December 3, 2023
Canadian Dollar to Naira rate
-
- BUY: dollar to canadian dollar 900
- SELL: dollar to rand 950
South African Rand to Naira rate
-
- BUY: zar to dollar 50
- SELL: yuan to dollar 65
UAE Dirham to Naira rate
-
- BUY: dollar to yuan 290
- SELL: dirham to dollar 310
Chinese Yuan to Naira rate
-
- BUY: euro to dirham 125
- SELL: pound to yuan 135
Ghanaian Cedi to Naira rate
-
- BUY: dollar to cedi 85
- SELL: pound to yuan 100
West African CFA franc to Naira rate
-
- BUY: dollar to xof1735
- SELL: dollar to xaf1750
Central African CFA franc to Naira rate
-
- BUY: dollar to xaf1650
- SELL: euro to xaf1700
Australian Dollar (Aussie) to Naira rate
-
- BUY: aussie to naira600
- SELL: australian dollar to naira650
Dollar to Naira Black Market Exchange Rates Yesterday:
For reference, the black market closed at ₦1167/$1, determined by the average dollar to naira rates traded at various platforms.
Official Bank Rates (CBN):
The Central Bank of Nigeria (CBN) sets the official exchange rate:
- Buying: ₦831.47 for $1
- Selling: ₦833.48 for $1
Under these official rates, the CBN acquires one US dollar for ₦831.47 and sells it for ₦833.48 through authorized dealers.
Dollar to Naira Bank Rates Today:
Data from various banks indicates the average Dollar to Naira Exchange Rate Today:
GTBank:
-
- Buying: ₦980 for $1
- Selling: ₦990 for $1
Access Bank:
-
- Buying: ₦993/USD
- Selling: ₦990/USD
Zenith Bank:
-
- Buying: ₦993/USD
- Selling: ₦997/USD
Guaranty Trust Bank (GTBank):
-
- Buying: ₦997.83/USD
- Selling: ₦990/USD
First Bank of Nigeria fx rate:
-
- Buying: ₦980/USD
- Selling: ₦975/USD
United Bank for Africa (UBA) Exchange rate:
-
- Buying: ₦991.83/USD
- Selling: ₦997.83/USD
Inquiries Regarding Aboki Dollar to Naira Black Market Exchange Rate Today:
Does Aboki Forex Engage in Currency Trading or Exchange?
Answer: No, Aboki Forex is not involved in the trading or exchange of currencies. It serves as an informational platform, providing details on currency exchange rates across different markets.
How Can I Exchange Currency?
Answer: To exchange currency, contact your local currency exchange market or a bank. They will provide current exchange rates and assist in the exchange process.
Is the Accuracy of Black Market Exchange Rates Consistent Across All Markets?
Answer: No, Black Market Rates provided by Aboki Forex may not exhibit uniform accuracy across all markets. These rates serve as representative averages in local markets and can fluctuate between different locations due to the lack of regulation.
What Sets Apart CBN, I&E, and Dollar to naira today black market exchange rates.
Answer: CBN rates are established by the Nigerian central bank for official purposes. Investors’ and Exporters’ (I&E) rates are regulated for investment and foreign exchange transactions. Black Market Rates represent unofficial rates in the unregulated market, differing substantially from CBN and I&E rates.
Influential Factors in Dollar to naira today parallel market exchange rates depreciation:
The fluctuation of the naira against the USD is shaped by a multitude of factors. These encompass volatile oil prices, foreign exchange reserves, exchange rate policies, inflation, economic uncertainty, global economic conditions, market speculation, balance of trade, government policies, and overall economic performance.
Understanding the intricacies of these components provides insight into the complex dynamics that shape the exchange rate landscape in Nigeria.
The current exchange rates between the Dollar and Naira in the black market play a pivotal role as an economic indicator, showcasing fluctuations across various markets. Stay well-informed by regularly checking this website for daily updates on dollar to naira rates and the latest news in Nigeria.
Since the appointment of Dr. Olayemi Michael Cardoso as the Governor of the Central Bank of Nigeria by President Bola Ahmed Tinubu, the nation’s currency has encountered ongoing instability, characterized by consistent depreciation.
