Black Market Dollar To Naira Exchange Rate Today — Graphic of Dollars and Nairas

Dollar To Naira Black Market today 30th January 2023, USD to Naira

Black Market Exchange Rate of Naira to dollar

By Omajemite Don Last updated Feb 4, 2023

Dollar to Naira Black Market today 30th January 2023 Exchange Rate.

Here is the current USD to naira rate today. See today’s CBN & Dollar to Naira Exchange rate at aboki fx and the black market. You can change your USD to naira at these rate or convert dollar to naira at the latest black market rate or parallel market.

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So many Nigerians prefer to exchange their foreign currencies especially the US Dollars to naira using the black market because the exchange rate is very high compared to what the bank offers. If you want to know the current black market rate, here is the page to find that.

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Aboki fx dollar to naira exchange rate has also been added here so you can easily verify each of the rate for the currencies you want to exchange in the parallel markets. Aboki fx is the most trusted source for black market dollar to naira rate today. You can find their exchange rate for today here.

Dollar to Naira Black Market Exchange rate Yesterday 29th January 2023

The exchange rate between the naira and the US dollar closed at an average of N754/$1 on Sunday 29th January 2023 at the black market.

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This is according to information obtained by Ejes Gist Dollar from black market traders and Aboki dollar to Naira exchange Operators.

Dollar to Naira Black Market today 30th January 2023

Dollar to Naira (USD to NGN)	USD to naira black market today
Buying Rate	750
Selling Rate	75

What is the current dollar to naira exchange rate in parallel market? Well, it may interest you to know that Dollar to Naira rate in the black market sometimes varies hugely from the rate in Central Bank of Nigeria website (www.cbn.gov.ng).

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The price listed above is the current USD to Naira exchange rate. We will always update the latest rate on a daily basis to keep you informed. Dollar to Naira Exchange Rate is the current exchange equivalent of the United States Dollar. Rate varies for various banks and parallel markets.

How Much is Dollar to Naira Official Exchange Rate Today

Parallel exchange rate (black market) exchange rate is always different from CBN rate. Currently, Naira is trading at 573 Naira Per Dollar. The Nigerian Economy is drastically affected by the Dollar to Naira exchange rate.

Dollar to Naira (USD to NGN)	Official Dollar to Naira Exchange Rate Today
Buying Rate	457
Selling Rate	459

Dollar to Naira Bank rate today.

Banks in Nigeria sell dollars between 540 to 545 to a dollar.

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As Naira is falling, inflation takes over the economy which usually affects the citizens. Central Bank Governor, Godwin Emefiele has said that the Nigerian Economy needs a massive turnaround and has urged Nigerians to work towards it.

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The black market commonly referred to as Aboki market rate for dollars is usually higher than the exchange rate at the banks which is usually regulated by the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate you can buy or sell dollars for naira listed on CBN dollar to naira website cbn.gov.ng.

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However, USD to Naira bank rate is the rate you use when purchasing something from foreign websites using your Naira Mastercard or Debit card from Nigerian Banks. These rate normally would always be lower than what is obtainable in the black market.

First Bank, GTCO among top equities, as investors trade N13.65bn shares

Approximately 756.769 million shares valued at N13.653 billion were traded in 18,248 transactions between January 23 and January 27, 2023.

The previous week, N15.668 billion was traded in 18,560 transactions for 1.241 billion shares.

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Top performing NGX sector

The Financial Services Industry led the activity graph by volume, with 454.718 million shares worth N4.813 billion traded in 8,214 transactions.

In addition, the ICT Industry reported that investors traded 61.735 million shares worth N1.647 billion in 1,600 transactions.

On its exchange floor, Conglomerates Industry saw 56.842 million shares traded in 622 transactions valued at N119.141 million.

Dollar to Naira Black Market today 30th January 2023.

The Financial Services Industry topped the list in terms of volume, with investors trading 1.010 billion shares worth N5.924 billion in 9,165 transactions.

In addition, the Conglomerates Industry made the list after 641 transactions involving 46.761 million shares valued at N112.918 million.

In 2,886 transactions, 42.121 million shares worth N2.134 billion were traded on the floor of the Consumer Goods Industry.

Top three stocks

Volume-wise, the top three stocks for the week are FBN Holdings Plc, Guaranty Trust Holding Company (GTCO) Plc, and Fidelity Bank Plc.

Investors exchanged over 165.522 million shares of FBN Holdings, GTCO, and Fidelity Bank in 2,530 transactions valued at N2.320 billion.

As a result, FBN Holding, GTCO, and Fidelity Bank accounted for 21,87% and 16,99% of the total volume and value of equity turnover, respectively.

Weekly’s top five performers

The price of a share of Tripple Gee stock increased by N0.25kob during the week, reaching N1.05 per share, up from N0.80kob at the start.

International Energy Insurance’s share price increased by N0.14kobo, from N0.49kobo per share to N0.63kobo per share.

The stock price of Chellarams increased by N0.35kobo to end the week at N1.81kobo, compared to its opening price of N1.41kobo.

The share value of Mutual Benefits increased by 23.33 percent, from N0.30kobo to N0.37kobo.

The share price of Associated Bus Company increased by 17.24 percent, closing the week at N0.34kobo per share from N0.29kobo per share.

The top five weekly losers this week

The CWG share price decreased by N0.14kobo to end the week at N0.90kobo, below its opening price of N1.04kobo.

The share price of Nigerian Breweries decreased by N4.50kob to close at N41.95kob per share, compared to its opening price of N46.45kob per share.

Additionally, Thomas Wyatt reported a loss of N0.14kobo per share, resulting in a decrease to N1.31kobo per share from N1.45kobo per share.

Courtville’s stock fell to N0.47kobo per share, a 6 percent decline from its opening price of N0.50kobo per share.

Within five days, the share price of Industrial & Medical Gases fell from N7.40kobo to N7, a loss of N0.40kobo per share.

What are the Facts Influencing Foreign Exchange Rate of dollars to Naira

Here are some of the reasons for the dollar-to-naira exchange rate’s decline.

Inflation Rates: It is common knowledge that inflation has a direct impact on black market exchange rates. The naira will benefit if the Nigerian economy can be stabilised and inflation is brought under control; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive on a daily basis.

Interest Rates: Interest rates are another tool to keep an eye on. If the interest rate at which banks lend money rises, the economy will contract, and the value of the naira will fall as a result.

Government debt has the potential to affect investor confidence and, as a result, the flow of funds into the economy. If inflows are high, the naira exchange rate will rise in its favour.

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Speculators:

Speculators have a significant impact on the naira-to-dollar exchange rate. They hoard money in anticipation of a profit, causing the naira to fall even further.

Trade Conditions: Although Nigeria is currently running a trade deficit, favourable trade terms will lead to an increase in the value of the Nigerian currency to the dollar. China, India, and the majority of Asian countries supply everything.

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What’s your Opinion on Dollar to Naira Black Market today Monday 30th January 2023, let us know what you think and how the Government can work with the CBN to provide reasonable USD to naira rates in the future.