Dollar to Naira Black Market Rate 29th July 2023

Dollar to Naira Black Market Exchange Rate Today, 29th July 2023 on Aboki Exchange

Key Points:

• The Dollar to Naira exchange rate in the black market on July 29, 2023,  buying and selling rate.
• The exchange rates are constantly fluctuating due to changes in the market’s supply and demand.
• Different foreign currencies have varied buying and selling rates in Nigeria’s black market.

Black Market in Nigeria

A commonly asked question is: What is the black market in Nigeria?

The term “black market” refers to the unofficial sector where currency is exchanged at rates different from the official market.

It’s also called the parallel market or Aboki exchange in Nigeria.

Another common query is: What is black market currency?

Black market currency pertains to the money being traded outside the regulated channels.

The exchange rates in this market differ from the official ones due to factors like demand and supply imbalances.

Exchange Rates Today: A Closer Look

Today, 29th July 2023, the Dollar to Naira exchange rate stands at N860 for buying and N875 for selling.

These rates, however, change throughout the day due to supply and demand fluctuations in the market.

What’s the buying and selling rate for various currencies today?

What’s the buying and selling rate for various currencies today?

FAQs about Black Market Currency Rates

Q: How much is $1 in the black market?

Today, the Dollar to Naira exchange rate is N860 for buying and N875 for selling.

Q: How much is $50 in the black market?

The exact amount in Naira will fluctuate based on the current exchange rate, but as of now, $50 is between ₦43,000 (at the buying rate) and ₦43,750 (at the selling rate).

Q: How much is $100 in the black market today?

At today’s rate, $100 translates to between ₦86,000 (buying rate) and ₦87,500 (selling rate).

Q: How much is $200 in the black market?

With the current rate, $200 will be between ₦172,000 (buying rate) and ₦175,000 (selling rate).

Remember, these rates can change frequently. Hence, before you make any financial decisions or transactions, check the latest rates.

This article aims to provide accurate information. However, the exchange rates mentioned are subject to changes and might have altered by the time you’re reading this.