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Dollar To Naira Exchange Rate For Today 04 July 2023(Black Market)

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Dollar To Naira Exchange Rate, Black Market Rate For Today 04 July Can Be Accessed Below.

News Rain Nigeria has obtained the official dollar to the naira exchange rate in Nigeria today, including the Bureau De Change (BDC) rate and CBN rates.

Black market dollar to naira today

The local currency (abokiFx) opened at N775.00 per $1 at the parallel market otherwise known as the black market, today, Tuesday, July 04, 2023, in Lagos Nigeria, after it closed at N772.00 per $1 on Monday, July 03, 2023.
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate ₦769
Selling Rate ₦772

How Much is Dollar to Naira official CBN rate

Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.

1 USD = 759.6459 NGN
1 Dollars = 759.6459 Nigerian Naira
The USDNGN rate as of 04 Jul 2023

Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has recommended individuals interested in Forex contact their respective banks before proceeding.

The parallel exchange rate (black market rate) is always different from the CBN rate. The exchange rate between the US dollar and the Nigerian Naira significantly impacts the Nigerian economy.

As the Naira falls in value, inflation takes over the economy, which usually impacts the inhabitants. The Central Bank has stated that the Nigerian economy needs a significant turnaround and has asked Nigerians to work toward this goal, such as increasing exports.

The black market rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website, cbn.gov.ng.

 

News Rain Nigeria reports that the dollar to naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. These rates are almost always cheaper than those available on the black/parallel market.

 

Dollar to Naira CBN rates today

 

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 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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