Currently, the Aboki Forex or Naira Black Market exchange value stands at 1360 Naira per US Dollar. It indicates that for every 1 Dollar exchanged, you receive 1360 Naira. The Black Market Exchange value have a tendency to surpass the official exchange value as it operates outside government example. In addition, current rates of the US dollar to Naira would show up the body of this page on “how Much is Dollar to Naira Today in Black Market” while conclusion would highlight ways of daily exchange rates.
In this page, it is right to tell you that the rates at which you either purchase or sell foreign currency may not align exactly with the rates mentioned in this article. The reason for this discrepancy is that dollar prices are subject to constant change. In addition, this changes occurs because of various factors such as market demand, economic conditions, geopolitical events, and central bank policies. It’s crucial to recognize the dynamic nature of forex markets and the multifaceted i.e. having multiple facets factors influencing naira currency rates, which may deviate from the rates reported in this article.
The recent depreciation of the Nigerian Naira by 23% against the US dollar within a span of time is attributed to the two primary factors below
- Heightened Demand for US Dollars:
- Delays in Forex Disbursement by the Central Bank:
Not too long ago, the Central Bank of Nigeria (CBN) intervened in the official Nigeria Foreign Exchange Market (NAFEM), resulting in strengthening of the Naira’s value in the currency market.
How Much is Dollar to Naira Today in Black Market
| Amount in Dollar | Aboki forex current Exchange Rate in Naira |
|---|---|
| 1 US Dollar (1$) to Naira | 1,360 |
| 5 US Dollars ($5) to Naira | 6,800 |
| 10 US Dollars ($10) to Naira | 13,600 |
| 20 US Dollars ($20) to Naira | 27,200 |
| 50 US Dollars ($50) to Naira | 68,500 |
| 100 Dollars ($100) to Naira | 136,000 |
| 200 Dollars ($200) to Naira | 272,000 |
| 300 Dollars ($300) to Naira | 408,000 |
| 400 Dollars ($400) to Naira | 544,000 |
| 500 Dollars ($500) to Naira | 680,000 |
| 600 Dollars ($600) to Naira | 816,000 |
| 800 Dollars ($800) to Naira | 1,088,000 |
| 1000 US Dollars ($1000) to Naira | 1,360,000 |
| 5000 US Dollars ($5000) to Naira | 6,800,000 |
| 10000 Dollars ($10000) to Naira | 13,600,000 |
However, few weeks ago, the Naira experienced a depreciation for four consecutive days, dropping by ₦285 (25%) to ₦1,405 per dollar.
Following the same trend in the official market, the Naira depreciated by ₦169.24 (9.9%) to ₦1,339.23 per dollar on Friday last week, April 26th, from ₦1,169.99 per dollar on Friday, April 19.
Conclusion
Basically, the page is letting you know that the rates for buying or selling foreign currency might not match exactly with what’s mentioned in the article. This is because the value of currencies, like the dollar, can change a lot. These changes happen because of different reasons like how much people want a currency, how the economy is doing, big world events, and what policies banks have. So, it’s important to understand that the rates for currency trading can vary because of these factors, even though this article gives specific rates of the day. For authentic updates in the future, Check business metrics on How Much is Dollar to Naira Today in Black Market.