Posted In: Exchange Rate
If you want to exchange your 50 Dollars for Naira or Naira for 50 Dollars in the black market and Official rate through the use of aboki fx or banks and want to know the current rate at which you can buy and sell your dollars in the parallel market, then keep reading to find out what the current Aboki dollar rate is today.
In this poat, I will explain everything you need to know about the Dollar to Naira exchange rate as well as the current dollar to naira exchange rate, both the black market rate and the CBN rate. You can convert your USD to Naira at this rate or at the parallel market or the most recent black market rate.
The Nigerian naira has been declining for months and continues to fall against the US dollar. This has exacerbated the Nigerian economy, as inflation continues to rise by the second. However, there are people who earn money online as freelancers, affiliate marketers, bloggers, content creators, and so on who would prefer to exchange their dollars for naira at the black market rate rather than the CBN rate because it is more profitable.
It is important to note that the Central Bank of Nigeria does not approve black market rates and has advised marketers to seek proper guidance on acquiring dollars from their financial institutions.
Current Dollar to Naira Black Market Rate
Our Dollar to Naira Black market rate is 100 percent accurate and corresponds to parallel market pricing in real time. The current dollar to naira Black market rate is shown below.
Current Dollar to Naira CBN Rate
This is the current standard rate set by the Central Bank of Nigeria.
50 Dollars to Naira Exchange Conversion
Black Market Rate
Buying Rate = $50 x N680/$ = NGN34,000
Selling Rate = N677/$ x $50 = NGN33,850
Buying Rate = $50 x N419/$ = NGN20,950
Selling Rate = N677/$ x $50 = NGN20,850
Note: The rate seen above is calculated based on the rate as at when this post was published. To get the correct rate use the format above to calculate the rate in the tables above.
You should be able to convert any of your dollar funds at a good rate in the black market now that you’ve seen the price difference between the parallel market and the CBN FX rate.
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