The Dollar To Naira today black market exchange rates in Nigeria today, 27th July 2023. It also includes the Naira Black Market exchange rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates.
In today’s digital age, the global economy relies heavily on currency exchange rates. The United States Dollar (USD) to Nigerian Naira (NGN) is a significant currency pair that draws attention. Because of its impact on the Nigerian economy, the black market for USD to NGN transactions has gained attention. We will look at the dynamics of the black market USD to NGN exchange rate, the factors that influence it, and the implications for individuals and the Nigerian economy as a whole.
Understanding the USD to NGN Exchange Rate Today
The current USD to NGN exchange rate serves as a vital piece of information for individuals and businesses alike. To effectively grasp the ongoing market trends, it is important to know the buying and selling rates associated with the black market.
- Buying Rate: 855 NGN The buying rate represents the price at which individuals can purchase the United States dollar from Aboki/Bureau De Change (BDC) in the black market. As of today, the buying rate stands at 825 Naira.
- Selling Rate: 865 NGN On the other hand, the selling rate indicates the value at which individuals can sell the United States dollar to Aboki/Bureau De Change (BDC) in the black market. Presently, the selling rate is 810 Naira.
Black Market Dollar to Naira Exchange Rate Table – 27th July 2023
For a clear and easy understanding, here is a table showcasing 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 |
| US Dollar (USD) | N855 | N865 |
Current Dollar to Naira CBN Exchange Rate
Aside from the black market, the Central Bank of Nigeria (CBN) also sets an official exchange rate. As of 26th July 2023, the CBN’s buying and selling rate for the Dollar to Naira is N770.389. ‘These rates are typically different from those observed in the black market.
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 7/26/2023 | US DOLLAR | 743.997 | 744.497 | 744.997 |
| 7/26/2023 | POUNDS STERLING | 961.4673 | 962.1135 | 962.7596 |
| 7/26/2023 | EURO | 823.3071 | 823.8604 | 824.4137 |
| 7/26/2023 | SWISS FRANC | 862.1054 | 862.6848 | 863.2642 |
| 7/26/2023 | YEN | 5.2969 | 5.3004 | 5.304 |
| 7/26/2023 | WAUA | 1058.0542 | 1058.7652 | 1059.4763 |
| 7/26/2023 | YUAN/RENMINBI | 104.043 | 104.1134 | 104.1837 |
| 7/26/2023 | RIYAL | 198.3622 | 198.4955 | 198.6288 |
| 7/26/2023 | SOUTH AFRICAN RAND | 42.0611 | 42.0893 | 42.1176 |
| 7/26/2023 | SDR | 999.7832 | 1000.4551 | 1001.127 |
Note: The exchange rates mentioned in this article are intended to provide accurate and timely information to our readers. Kemifilani does not have the authority to set or determine forex rates.
Exchange Rates for Other Currencies
Staying informed about exchange rates for other major currencies is also crucial. ‘The exchange rates for the British Pound (GBP) and the Euro (EUR) against the Nigerian Naira (NGN) as of 27th July 2023 are as follows:
| DATE | CURRENCY | SELLING RATE (NGN) | BUYING RATE (NGN) |
| 27th July | US DOLLAR | 777.6307 | 777.6307 |
| 27th July | POUNDS STERLING | 1150 | 1135 |
| 27th July | EURO | 850 | 840 |
Dollar to Naira Rate for the Past 7 Days
| Date | Buy | Sell |
| July 27, 2023 | 855 | 865 |
| July 26, 2023 | 845 | 855 |
| July 25, 2023 | 833 | 845 |
| July 24, 2023 | 833 | 845 |
| July 23, 2023 | 829 | 838 |
| July 22, 2023 | 829 | 838 |
| July 21, 2023 | 829 | 838 |
Q1: What is the current black market exchange rate for the Dollar to Naira on 27th July 2023?
A: The buying rate is N805, and the selling rate is N810.
Q2: What is the official exchange rate set by the CBN for Dollar to Naira on 27th July 2023?
A: The CBN’s buying and selling rates for the Dollar to Naira remain at N777.6307.
Q3: Where can I find the official NAFEX rates?
A: You can obtain the official NAFEX rates from the FMDQOTC website, 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 27th July 2023?
A: The selling rate for the Pound Sterling is N1150, with a buying rate of N1135. The Euro has a selling rate of N850 and a buying rate of N840.
