Are you eager to discover the current Dollar to Naira black market rate? Look no further than Okay.ng, your go-to source for the latest updates on the Black Market, CBN, and AbokiFx Rates.
In the dynamic world of currency exchange, understanding these rates can be crucial for individuals and businesses alike.
The Black Market rate often offers more favorable terms for those dealing in dollars compared to the CBN rate, and the savvy players in this market are known as Bureau De Change (BDC) Operators or Abokis.
But before we dive into the specifics, let’s demystify the terms “Buying” and “Selling” of Dollars.
Buying a Dollar means acquiring it with Naira, while Selling involves exchanging your dollars for Naira at the prevailing black market rate. It’s essential to grasp these concepts to navigate the currency exchange landscape effectively.
Now, let’s address the burning question, “What is the Dollar To Naira Black Market Exchange Rate for Today?“
According to insights gathered from Zone 4, Wuse Abuja, a bustling hub for currency exchange, the Dollar was bought at ₦1,435.00 and sold at ₦1,455.00 today.
How Much Is Dollar To Naira Black Market Rate Today in Nigeria (May 11, 2024)?
Dollar to Naira Black Market/Aboki Rate Today
| Dollar (USD) to Naira (NGN) | Black Market /Aboki Exchange Rate Today |
| Buying Rate | ₦1448.00 |
| Selling Rate | ₦1475.00 |
Black Market/Aboki Rate Exchange Table Today
Let’s break down the black market prices for various denominations. Since the selling rate stands at ₦1,448.00, we multiply it by the denomination in dollars to determine the equivalent value in Naira.
| Amount in Dollar ($) | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| 1 US Dollar ($1) to Naira | ₦1,448.00 | ₦1,475.00 |
| 5 US Dollars ($5) to Naira | ₦7,240.00 | ₦7,375.00 |
| 10 US Dollars ($10) to Naira | ₦14,480.00 | ₦14,750.00 |
| 20 US Dollars ($20) to Naira | ₦28,960.00 | ₦29,500.00 |
| 50 US Dollars ($50) to Naira | ₦72,400.00 | ₦73,750.00 |
| 100 US Dollars ($100) to Naira | ₦144,800.00 | ₦147,500.00 |
| 200 US Dollars ($200) to Naira | ₦289,600.00 | ₦295,000.00 |
| 300 US Dollars ($300) to Naira | ₦434,400.00 | ₦442,500.00 |
| 400 US Dollars ($400) to Naira | ₦579,200.00 | ₦590,000.00 |
| 500 US Dollars ($500) to Naira | ₦724,000.00 | ₦737,500.00 |
| 600 US Dollars ($600) to Naira | ₦868,800.00 | ₦885,000.00 |
| 800 US Dollars ($800) to Naira | ₦1,158,400.00 | ₦1,180,000.00 |
| 1000 US Dollars ($1000) to Naira | ₦1,448,000.00 | ₦1,475,000.00 |
| 5000 US Dollars ($5000) to Naira | ₦7,240,000.00 | ₦7,375,000.00 |
| 10000 US Dollars ($10000) to Naira | ₦14,480,000.00 | ₦14,750,000.00 |
Dollar To Naira CBN Rate Today
As of today, May 11, 2024, the Central Bank of Nigeria sells at ₦1592.73 and buys at ₦1593.73.
| CBN Selling Rate | ₦1592.73 |
|---|---|
| CBN Buying Rate | ₦1593.73 |
How Much Is A Dollar To Naira Black Market Rate (Lagos)?
In Lagos, known for its vibrant economy and bustling markets, the black market rate mirrors that of Abuja, standing at ₦1,380.00. However, it’s worth noting that variations may occur among different exchangers in Lagos.
Dollar Conversion:
- 100$ is equivalent to ₦144,800.
- 1000$ is equivalent to ₦1,448,000.
- 5000$ is equivalent to ₦7,240,000.00.
Stay tuned to Okay.ng for unparalleled insights into currency exchange rates and market trends, empowering you to make informed decisions in your financial endeavors.
