Sunday, June 26, 2022
HomeBusinessDollar to Naira Today (31st May, 2022) Black Market Exchange Rate |...

Dollar to Naira Today (31st May, 2022) Black Market Exchange Rate | 1USD to Naira

Dollar to Naira Black Market Rate – Today’s USD to Naira rate is shown below. For dollar to naira aboki fx, see the CBN and black market exchange rates. You can exchange your dollars for naira at these rates, or you can convert dollars to naira at the black market or parallel market rate.

Many Nigerians prefer to exchange their foreign currencies, particularly US dollars, on the black market because the exchange rate is much higher than what the banks offer. This is the page to go to if you want to know what the current black market rate is.

Dollar to Naira Black Market Rate Today (31st May, 2022)

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 580
Selling Rate 610

 

What is the current parallel market dollar to naira exchange rate? It may interest you to know that the black market rate of the dollar to the naira can differ significantly from the rate on the Central Bank of Nigeria’s website (www.cbn.gov.ng).

The above price reflects the current USD/Naira exchange rate. To keep you informed, we will update the current rate on a daily basis. The Dollar to Naira Exchange Rate is the United States Dollar’s current exchange rate. The rate varies depending on the bank and the parallel market.

How Much is Dollar to Naira Official Exchange Rate Today?

The parallel exchange rate (black market) is never the same as the CBN rate. The Naira is currently trading at 573 Naira per dollar. The exchange rate between the dollar and the naira has a significant impact on the Nigerian economy.

As the naira depreciates, inflation takes hold of the economy, affecting citizens. Godwin Emefiele, the Governor of the Central Bank of Nigeria, has stated that the Nigerian economy requires a huge transformation and has urged Nigerians to work toward this goal.

The black market exchange rate for dollars, also known as the Aboki market rate, is usually higher than the Central Bank of Nigeria-regulated exchange rate (CBN). The CBN Exchange rate is the rate at which you can buy or sell dollars for naira on the CBN’s dollar-to-naira website, cbn.gov.ng.

The dollar to naira bank rate is the rate you pay when you use your Naira Mastercard or Debit card from a Nigerian bank to make a purchase on a foreign website. These rates are almost always lower than those available on the black market.

What are your thoughts on the black market exchange rate of the dollar to the naira? Let us know what you think today, and how you think the government and the CBN can work together in the future to provide reasonable USD to naira rates.

- Advertisement -
RELATED ARTICLES

Leave a reply

Please enter your comment!
Please enter your name here

Most Popular