Dollar to Naira Black Market Exchange Rate Today 15th June 2023

Black Market Dollar to Naira Today 15th June 2023, AbokiFx exchange rate has emerged…

Access the dollar to naira black market exchange rate for today 15th June 2023

Dollar to naira black market exchange rate today black market (Aboki dollar rate):

Black Market Dollar to Naira is how much,

Here are currency dealers in Abuja Zone 4 market, Lagos, Nigeria said a dollar was bought at the rate of  ₦‎790 and sold at the rate of ₦‎791‎ today.

How Much Is the Dollar To Naira Exchange Rate Today?

CroasRiverHub understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N790 and sell at N791 as of the time of filing this report.

Exchange Rate of Dollar To Naira in Black Market Today?

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 790
Selling Rate 791

The local currency (abokiFx) opened at N790.00 per $1 at the parallel market otherwise known as the black market, today, Thursday, 15th June 2023 in Lagos Nigeria, after it closed at N791.00 per $1.

IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. What it means is that…you can buy or sell 1 dollar at ₦790 and the price can change (high or low) within hours.

The present buying and selling rates of United States Dollars (USD) on the unofficial parallel market are provided below for Bureau De Change (BDC) operators in Lagos and Abuja, also known as the black market.”

Black Market Exchange Rate for Most Used Currency in Nigeria

Currency Buying Rate Selling Rate
USD to NGN ₦790 ₦791
GBP to NGN ₦900 ₦920
EUR to NGN ₦750 ₦800
CAD to NGN ₦560 ₦600
ZAR to NGN ₦31 ₦38
AED to NGN ₦180 ₦200
CNY to NGN ₦80 ₦90
GHS to NGN ₦40 ₦55
XOF to NGN ₦1050 ₦1100
XAF to NGN ₦920 ₦950

CBN Finally Devalues Naira – See New Exchange Rate

After denying reports of naira devaluation, the Central Bank of Nigeria (CBN) has now announced significant changes to the Nigerian Foreign Exchange (FX) Market, just 14 days later. These changes involve the consolidation of all segments into the Investors and Exporters (I&E) Window, aligning with the earlier report that the CBN challenged.

As a result of these developments, the naira has experienced a sharp decline, reaching a record low of 29% to N664 per dollar at the close of business in Lagos. This decline marks the largest since the devaluation in 2016.

In a circular issued by the CBN, it was revealed that applications for medical expenses, school fees, BTA/PTA, and SMEs would still be processed through deposit money banks. Additionally, the circular reintroduced the “Willing Buyer, Willing Seller” model at the I&E Window and established that all eligible transactions could access foreign exchange through this window.

The CBN also implemented trading limits on oversold FX positions, allowing the hedging of short positions with OTC futures. Overbought positions were limited to zero. The circular reintroduced order-based two-way quotes with a bid-ask spread of A1, ensuring that all transactions would be cleared by a Central Counter Party (CCP).

Furthermore, the RT200 Rebate Scheme and the Naira4Dollar Scheme will be discontinued starting from June 30, 2023.

Previously, the CBN had been auctioning the naira at the SMIS window at over N630 to the dollar. However, the CBN directed commercial banks to freely trade the dollar, causing prices to rise to N750/$.

Investors reacted positively to these reforms, as seen in the surge of the stock market and government bonds. The removal of trading restrictions on the official market led to the naira hitting a record low of 750 to the dollar on the official market. This was the first significant drop since the introduction of a managed exchange rate in 2017, following the 2016 devaluation.

Official Dollar to Naira Exchange rate today 15th June 2023

The official exchange rate between the Nigerian Naira and the US dollar is provided by the Central Bank of Nigeria (CBN) on its Currency Exchange Rate platform.

GTBank Dollar to Naira Exchange Rates

Bank Currency Rate
GTBank USD to Naira ₦ 600

First Bank Naira Exchange Rates

Currency Rate
GBP ₦ 706
EUR ₦ 602
CAD ₦ 466
USD ₦ 570
INR ₦ 5.80
RUB ₦ 6.20

Access Bank Dollar to Naira Exchange Rates

Currency Rate
USD To Naira ₦ 600
EUR To Naira ₦ 531
GBP To Naira ₦ 621
CAD To Naira ₦ 357
ZAR To Naira ₦ 31
INR To Naira ₦ 6
TRY To Naira ₦ 52
AUD To Naira ₦ 299
RUB To Naira ₦ 7.10
SGD To Naira ₦ 268
AED To Naira ₦ 109
XOF To Naira ₦ 800

UBA Dollar to Naira Exchange Rates

Currency Rate
INR To Naira ₦ 6.12
USD To Naira ₦ 490
EUR To Naira ₦ 566
GBP To Naira ₦ 622
CAD To Naira ₦ 316
AED To Naira ₦ 119

Ecobank Naira Exchange Rates

Currency Rate
USD To Naira ₦ 680
GBP To Naira ₦ 621
EUR To Naira ₦ 499.45
AED To Naira ₦ 107
CAD To Naira ₦ 299
INR To Naira ₦ 5.9

Stanbic Bank Dollar to Naira Exchange Rates

Currency Rate
USD To Naira ₦ 500
EUR To Naira ₦ 543
GBP To Naira ₦ 646
CAD To Naira ₦ 337