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Dollar To Naira Exchange Rate Today 4th May 2023(Black Market)

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2 years ago

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The black market Dollar to Naira rate popularly known as Aboki exchange rate Today 4th May 2023 can be accessed below.

IMPORTANT NOTE: The exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. What it means is that…you can buy at ₦737 and sell 1 dollar at ₦741 right now but the price can change (high or low) within hours.

Please take note that the exchange rate is subject to hourly fluctuations which are influenced by the supply and demand of dollars in the market.

As of now, you can purchase 1 dollar at ₦740 and sell it at ₦745, however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within a matter of hours.

CBN Dollar to Naira Exchange Rate Today 4th May 2023:

USD to NGN Buying Rate Selling Rate
1 USD 460 NGN 460 NGN

Black Market (Aboki) Dollar to Naira Exchange Rate as of 4th May 2023 :

USD to NGN Buying Rate Selling Rate
1 USD ₦740 ₦745

Please keep in mind that these rates are subject to change frequently and may not be accurate at the time of viewing.

Even though the dollar to naira opened in the parallel market at ₦740 per $1 today, Newsone reports that the Central Bank of Nigeria (CBN) does not recognize the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.

Disclaimer: NEWS RAIN NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.

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