Black Market Dollar To Naira Exchange Rate For Today

Knowing the currency exchange rate is very important, especially to those who engage in online and international business within Nigeria. A so of submitting this post, the exchange rate for a dollar to naira at the Aboki Forex Market (Black Market) participants is N758 to N762. 100 US dollars ($100) exchanged for 75,800 Naira at the Aboki Forex Market (Black Market) today as of 23/05/2023.

Black market

Dollar to Naira Exchange rate today

Dollar to Naira (USD to NGN)       Black market exchange rate today                           Date
Buying Rate                                                           755                                                                      23/05/2023
Selling Rate                                                             744                                                                     23/05/2023


Pound to Naira (GBP to NGN)          Black Market Exchange rate today                         Date

Buying rate                                                                 910                                                                                                             23/05/2023

selling rate                                                                930                                                                                                             23/05/2023


Euro to Naira (EUR to NGN)            Black Market Exchange rate today                           Date

Buying rate                                                       760                                                                                                                    23/05/2023

Selling rate                                                         780                                                                                                                    23/05/2023


Canadian Dollar to Naira ( CAD to NGN)        Black Market Exchange rate today                    Date

Buying rate                                                                             342                                                                            23/05/2023

Selling rate                                                                             343                                                                           23/05/2023


Dirham to Naira (AED to NGN)                      Black Market Exchange rate today                     Date    

Buying rate                                                                            155                                                                            23/05/2023

Selling rate                                                                             165                                                                           23/05/2023


CBN Official Naira Exchange Rates

The data according to Central Bank of Nigeria (CBN) exchange rate of dollar to naira rate in which is best at (Forex).

The data is as follows:

Note:  This is the exchange rate at which commercial banks exchange currency.

Date Currency Buying(NGN) Central(NGN) Selling(NGN)
5/18/2023 US DOLLAR 460.34 460.84 461.34
5/18/2023 POUNDS STERLING 572.8471 573.4693 574.0915
5/18/2023 EURO 497.8577 498.3985 498.9392
5/18/2023 SWISS FRANC 511.3752 511.9307 512.4861
5/18/2023 YEN 3.3402 3.3438 3.3474
5/18/2023 CFA 0.7406 0.7506 0.7606
5/18/2023 WAUA 615.3425 616.0108 616.6792
5/18/2023 YUAN/RENMINBI 65.5046 65.5762 65.6478
5/18/2023 RIYAL 122.7442 122.8776 123.0109
5/18/2023 SOUTH AFRICAN RAND 23.764 23.7898 23.8156


Read also: How to become a pro-crypto trader – rexpays



The following factors affect the foreign exchange market;

1. Inflation Rates:

It is common knowledge that inflation directly influences black market exchange rates. The naira will gain if the Nigerian economy can be stable and inflation is managed; but, if the naira continues to decrease, it may imply that food and other needs are getting more costly daily.

2. Interest Rates

Interest rates are another instrument to keep an eye on. If the interest rate at which banks lend money rises, the economy will decrease, and the value of the naira will fall.

3. Government debt

Government debt has the potential to affect investor confidence and, as a result, the flow of capital into the economy. If inflows are large, the naira exchange rate will stabilize.

4. Speculators

Speculators have a significant effect on the naira-to-dollar exchange rate. They hoard money in expectation of a profit, pushing the naira to fall even more.

5. Trade Conditions

Although Nigeria is presently running a trade deficit, favorable trade terms would boost the naira’s value against the dollar. China, India, and the rest of the Asian countries supply everything.

The current CBN rate in Nigeria could be worth checking out before proceeding to exchange.

Leave a Reply

Your email address will not be published. Required fields are marked *