The rate published below is the current rate being traded at the USD to Naira Black Market exchange rate. But also note that it can change hourly depending on the availability of dollars in the Market/Bank.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate): The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N845 and sell at N855 on Monday, 21st August 2023, according to sources at Bureau De Change (BDC).
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Central Bank of Nigeria (CBN) Naira Exchange Rates for banks
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.
|1 USD = 744.64NGN|
|1 Dollars = 744.64 Nigerian Naira|
|The USDNGN rate as of 21 Aug 2023 at 8:00 AM|
Factors Influencing Foreign Exchange Rate
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.