This is to inform the general public About Dollar To Naira Black Market Today, Here is the current USD/Naira exchange rate: May 16, 2023
See how the Naira is doing vs other currencies.
A dollar was bought at 747 Naira and sold at 744 Naira today, according to currency dealers in Abuja Zone 4 market, Nigeria, as opposed to 743 Naira yesterday.
Additionally, the second-most exchanged currency, the Euro/Naira, was traded on the illegal market at 810 buys and 795 sells, respectively.
Amazingly, the buy rate for the pound to the naira is 930 at the moment, while the sell rate on the black market is 916.
Dollar to Naira Rate for Past 7 Days
| Date | Buy | Sell |
| May 15, 2023 | 743 | 739 |
| May 14, 2023 | 740 | 736 |
| May 13, 2023 | 738 | 734 |
| May 12, 2023 | 738 | 735 |
| May 11, 2023 | 740 | 735 |
| May 10, 2023 | 738 | 733 |
| May 9, 2023 | 738 | 734 |
The Dollar To Naira Exchange Rate continues to be the same when we reviewed local dealers’ reports on forex in Lagos and Abuja, respectively.
This suggests that you can sell at 744 and purchase Dollar for 747.
Dollars to Naira Black Market
Here is the recent black market exchange rate between the US dollar and the naira, which is accepted by Aboki/Bureau De Change (BDC) in Abuja, Kano, and Lagos. There can be a small difference in various parallel (unofficial) markets.
| Dollars to Naira (USD to NGN) | Exchange Rate Today |
| Buying Rate | 747 |
| Selling Rate | 744 |
Euro to Naira Black Market
Below is the most recent black market exchange rate between the Euro and the Naira. It represents the price at which Aboki/Bureau De Change (BDC) is at present purchasing and selling the Euro in Abuja, Kano, and Lagos. There can be a small difference in various parallel (unofficial) markets.
| Euro to Naira (EUR to NGN) | Exchange Rate Today |
| Buying Rate | 810 |
| Selling Rate | 795 |
Pounds to Naira Black Market
Below is the most recent exchange rate for trading and buying Great British Pounds (Pounds) on the black market in Abuja, Kano, and Lagos as reported by Aboki/Bureau de Change (BDC). There can be a small difference in various parallel (unofficial) markets.
| Pounds to Naira (GBP to NGN) | Exchange Rate Today |
| Buying Rate | 930 |
| Selling Rate | 916 |
CAD to Naira Black Market
| CAD to Naira (CAD to NGN) | Exchange Rate Today |
| Buying Rate | 630 |
| Selling Rate | 610 |
The following table shows the black market exchange rate between the Canadian Dollar and the Naira at the moment in Abuja, Kano, and Lagos. It is set by Aboki/Bureau De Change (BDC). There can be a small difference in various parallel (unofficial) markets.
On Tuesday, May 16, 2023, the black market in Lagos is trading one dollar at 747 naira. Black Market begins this week on Monday, May 15, 2023, with USD trading at 740. This brings the US Dollar’s weekly gain versus the Naira to 0.07%.
When we examine at this month, we can see that on Monday, May 1, 2023, USD was traded at. As of right now, the USD/Naira exchange rate is a% with the USD currently trading for 747 Naira.
Black Market Exchange Rates |
Buying Rate |
Selling Rate |
| Dollar to Naira | 747 | 744 |
| Pounds to Naira | 930 | 916 |
| Euro to Naira | 810 | 795 |
| Canadian Dollar to Naira | 630 | 610 |
| Rand to Naira | 52 | 43 |
| Dirham to Naira | 0 | 0 |
| Yuan to Naira | 62 | 62 |
| G.Cedi to Nair | 70 | 50 |
| CFA F. (XOF) To Naira | 0.83 | 0.81 |
| CFA F. (XAF) To Naira | 0.74 | 0.74 |
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Selling Rate | 747 |
| Buying Rate | 744 |
| Pounds to Naira (USD to NGN) | CBN Official Exchange Rate Today |
| Selling Rate | 441 |
| Buying Rate | 441 |
Here are some facts about the Dollar/Naira
According to appearances, the Nigerian economy is a mono-economy, which indicates that we depend on imports of products and services.
We must utilize the US dollar, a form of payment that is universally accepted, to pay for this.
According to the first formal record of the USD in use, it appears that the first US Dollar debuted in 1794. To establish the value of the dollar, the Coinage Act was put into effect. In fact, the statute permits the current exchange rate of $1 for $100.
Faqs of Online Paying Jobs For College Students
How much is $1 to Naira in black market today?
In accordance with 2 buy rates taken from user comments, the black market exchange rate for the dollar to the naira is currently between 740 and 744 with an average of 742.00 on May 14, 2023 in Nigeria.
How much is $1 dollar in Naira now?
Compare the exchange rates here to all other currencies. The currency rates are often updated and the currency converter below is simple to use. Given the recent high volatility in the world’s currencies, this is of critical importance. Money transfers abroad are as simple as ever.
Should There Be A Black Market?
The majority of Nigerians think that the illicit market has done more harm than good, and as a result, the government has stopped selling dollars to Bureau De Change (BDC).
But one thing we must recognize is that the black market has always been around for a while and has been crucial in the purchase and sale of dollars by common Nigerians. It will be challenging to withdraw money from the financial institution without them.
Conclusion
The government should make sure that they are adequately controlled, suspend those who disobeyed the rules, and if at all feasible, stop significant sums of money from being transacted outside the banking system in order to fix the current issue.
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