Aboki Rate: Latest US Dollar To Naira Black Market Rates Today, 24 August 2022

What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? How much is the Dollar to Naira exchange rate today, 24th August 2022? You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent, official CBN rate, black market, or parallel market rate.

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

The official rate today, Wednesday, August 24th, 2022, for 1 dollar to naira = ₦429.07/$1.

According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦429.07/$1 on Wednesday 24th August and closed at ₦430.67 to $1.

US Dollar to Naira Black Market Rate Today, 24th August 2022.

Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today

Buying Rate
670

Selling Rate
690

Naija News reports that the US dollar to naira exchange rate changes hourly. The exchange rate fluctuates depending on the volume of dollars available and the demand for it. This means the exchange rate you buy and sell the dollar could be different hours later (high or low).

Factors that could Influence Foreign Exchange Rates in Nigeria

Conditions of Trade
Speculators
Government Debt
Interest Rates
Inflation Rates

Bureau De Change operators have cited a lack of FX and a surge in demand for the recent uncontrolled uptrend recorded in the market. In the same vein, some bank users who have FX in their domiciliary account told Nairametrics that they have not been able to withdraw their funds from the bank due to tightened liquidity.

Oil Firms Owe Banks N5.93tn Amid Losses, Theft

Data from the Central Bank of Nigeria (CBN) has shown that oil firms operating in the downstream and upstream subsectors of the Nigerian oil and gas industry are owing banks N5.93tn as of June 2022.

Operators in the downstream, natural gas and crude oil refining subsector are owing banks N4.28tn.

The data also revealed that operators in the upstream and services subsectors are indebted to banks to the tune of N1.65tn.

This shows an increase of N250bn from the total debt of N5.68tn in December 2021.

The Petroleum and Natural Gas Senior Staff Association of Nigeria had, in March, raised the alarm over the huge losses incurred by operators in the oil and gas industry as a result of vandalism and oil theft.

The President of PENGASSAN, Festus Osifo, disclosed that over 90 per cent of crude oil pumped into the Trans National Pipeline by operators between October 2021 and February 2022 was vandalised.