“What is the US Dollar to Naira Exchange rate at the black market today July 26, 2023, which is also known as the parallel market (Aboki fx or Aboki exchange rate)?
Find below the black market Dollar to Naira exchange rate for today.
Selling Rate: N850
Buying Rate: N855
You can easily swap your dollar for Naira at these rates. The black market, or parallel market, often referred to as Aboki fx or Aboki exchange rate, is an informal and unofficial market where foreign currencies, such as the US Dollar, are traded outside the official exchange rate system. It operates alongside the official banking system and is commonly used in countries where there are restrictions on currency exchange or when individuals prefer better rates than those offered by official channels.
Please note that while the black market may offer more favorable rates, it also carries higher risks, and transactions are not protected by the same regulations and safeguards as official banking channels. It’s essential to exercise caution and only engage in transactions with reputable and trustworthy parties when dealing with the black market.
For the most up-to-date and accurate rates
The exchange rates in the black market can fluctuate frequently due to various economic factors and market conditions.”
How much is dollar to naira black market today?
Dollar to naira exchange rate today black market yesterday (Aboki dollar rate):
Insiders from the Bureau De Change (BDC) reported fluctuating exchange rates between the US dollar and the Nigerian naira on Monday, July 25, 2023, across various markets. In the Lagos Parallel Market, popularly referred to as the Black Market, the buying rate for a dollar was N850, with the selling rate at N854. On the other hand, at the Investors and Exporters (I&E) window, the dollar to naira exchange rate experienced initial highs, peaking at N787, but eventually settled at N778 by the close of the day.
- CBN Official Naira to Dollar exchange rate today July 25 2023
- CBN Official Naira to Dollar exchange rate today July 26 2023
- CBN Official Naira to Dollar exchange rate today July 23 2023
Please note that the Central Bank of Nigeria (CBN) does not officially recognize or endorse the activities of the parallel market, commonly known as the black market, for foreign exchange. The CBN has directed individuals seeking foreign exchange to approach authorized banks for their foreign currency needs.
The dollar to naira black market exchange rate today Monday, July 26, 2023 is as follows:
Dollar to Naira Black Market Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N855 |
| Selling Rate | N850 |
This means that you can buy 1 dollar for 855 naira, and you can sell 1 dollar for 850 naira at Aboki exchange rate.
Aliexpress dollar to naira exchange rate today
As of today, the exchange rate for the dollar to the Nigerian naira on AliExpress is 784.84 Naira per dollar. If you have a domiciliary account, you have the option to purchase directly from your account. Additionally, AliExpress now allows users to make purchases in Nigerian naira instead of requiring payments in foreign currency.
1000 Naira to dollar conversion rate will give you N850,000.
How much is $100 in black market today?.
Now, How much is $100 US in Nigeria?
- $100 USD in black market today will give you ₦85,000.
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How Much is 1 dollar to naira official exchange rate today.
The dollar to naira exchange rate at the Investors and Exporters (I&E) window on July 26, 2023, is as follows:
- Buying rate: N784.84/$
- Selling rate: N785.84/$
This means that you can buy 1 US dollar for N784.84, and you can sell 1 US dollar for N785.84.
CBN Official Naira to Dollar exchange rate today July 26 2023
Euro To Naira Black market exchange rate ngnrates.com
The euro to naira exchange rate on July 26, 2023, is as follows:
- Buying rate: N850.72/€
- Selling rate: 862.72/€
This means that you can buy 1 euro for 850.72 naira, and you can sell 1 euro for 862.72 naira.
Pound To Naira Black market exchange rate ngnrates.com.
Pound to naira exchange rate at the Investors and Exporters (I&E) window on July 26, 2023:
- Buying rate: 1,048.30 naira
- Selling rate: 1,048.60 naira
This means that you can buy 1 pound for 1,048.30 naira, and you can sell 1 pound for 1,048.60 naira.
The I&E window is the official exchange rate window in Nigeria. It is a platform where authorized dealers can trade foreign exchange. The exchange rate at the I&E window is determined by supply and demand.
Please note that the exchange rate can change at any time, so it is always best to check the latest rates before you make a transaction. You can do this by visiting the website of a reputable currency exchange bureau or by using a currency converter online.
FBN Holdings to raise capital via Rights Issue.
FBN Holdings has announced its plan to conduct a Rights Issue in order to raise funds and strengthen its available capital for operational requirements. A Rights Issue is a method commonly used by companies to offer their existing shareholders the opportunity to purchase additional shares in exchange for fresh capital infusion.
This approach allows companies to raise the necessary funds without incurring debt, interest, or increasing their liabilities. The funds acquired through the Rights Issue are typically utilized to expand operations, acquire assets, settle outstanding debts, and facilitate various operational activities.
Scheduled to take place on August 15, 2023, during the Annual General Meeting (AGM), FBN Holdings’ shareholders will be voting on this fundraising initiative. The decision to conduct the Rights Issue means that the company will be offering more of its stake to existing shareholders, including the majority shareholders.
Interestingly, this development comes at a time when the majority shareholders are reportedly seeking ways to reduce the influence of the largest shareholder, Oba Otudeko, who acquired a 13.3 per cent stake in the firm earlier in the year. It’s worth noting that the Central Bank of Nigeria (CBN) has previously imposed restrictions on shareholders within a bank, preventing them from selling their shares to increase another shareholder’s stake above five per cent or selling five per cent of the shares to another shareholder within the firm. Approval from the financial regulator is required for any investor intending to proceed with such transactions.
The Rights Issue presents an opportunity for the majority shareholders to strengthen their positions in FBN Holdings, despite the regulatory restrictions they face.
Also see: CBN Official Naira to Dollar exchange rate today July 26 2023
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