USD to NGN Black Market Exchange Rate on 13th July 2023
- The current black market exchange rate for the Dollar to Naira as of 13th July 2023.
- An overview of the Central Bank of Nigeria (CBN) official exchange rate for Dollar to Naira on the same date.
- Comparison of other currencies’ exchange rates like the British Pound and Euro against the Naira.
We’ll give you the latest info on how much the United States Dollar (USD) is worth compared to the Nigerian Naira (NGN) on July 13, 2023.
Black Market Exchange Rate
As of today, 13th July 2023, the black market, often referred to as the parallel market, opened in Lagos, Nigeria. The Nigerian Naira is currently trading at N795.00 per $1. If you intend to exchange US Dollars for Nigerian Naira in the black market, expect to receive N795 for each dollar you exchange.
Black Market Dollar to Naira Exchange Rate Table – 13th July 2023
Here is a straightforward table detailing the buying and selling rates for the US Dollar to Nigerian Naira exchange in the black market today:
Currency (USD to NGN) Buying Rate Selling Rate
|Currency (USD to NGN)||Buying Rate||Selling Rate|
|US Dollar (USD)||N790||N795|
Evaluating Market Trends: Previous Day’s Performance
To grasp market trends better, we should consider the previous day’s performance.
On the 12th of July 2023, black market participants bought the US Dollar at N786 and sold it at N790.
This data provides an understanding of recent price movements, crucial for assessing the market situation.
CBN Exchange Rate
Apart from the black market, the official exchange rate set by the Central Bank of Nigeria (CBN) as of 13th July 2023 also plays a vital role. The CBN exchange rate is used for official transactions and can significantly impact the entire economy.
As of 13th July 2023, the CBN’s buying rate and selling rate for the Dollar to Naira stands at N776.90. These rates, set by the central bank, typically differ from those observed in the black market.
Please note that we do not have the authority to set or determine forex rates.
Exchange Rates for Other Currencies
It’s also crucial to stay informed about exchange rates for other major currencies.
Here are the rates for the British Pound (GBP) and the Euro (EUR) compared to the Nigerian Naira (NGN) on July 13, 2023:
Date Currency Selling Rate (NGN) Buying Rate (NGN)
|Date||Currency||Selling Rate (NGN)||Buying Rate (NGN)|
|13th July||US DOLLAR||795||790|
|13th July||POUNDS STERLING||1030||1010|
Q1: What is the current black market exchange rate for the Dollar to Naira on 13th July 2023?
The buying rate is N790, and the selling rate is N795.
Q2: What is the official exchange rate set by the CBN for Dollar to Naira on 13th July 2023?
The CBN’s buying rate and selling rate for the Dollar to Naira remain at N776.90.
Q3: Where can I find the official NAFEX rates?
You can obtain the official NAFEX rates from the FMDQOTC website, as they are the authoritative source for such rates.
Q4: What are the exchange rates for other currencies like the British Pound and Euro against the Naira on 13th July 2023?
The selling rate for the Pound Sterling is N1030, with a buying rate of N1010. The Euro has a selling rate of N850 and a buying rate of N840.
Stay connected for the latest updates on currency exchange rates in Nigeria. Please remember that exchange rates are subject to fluctuations and may vary throughout the day. It is always advisable to verify the rates before engaging in any currency exchange transactions.