Abokifx black market rate for dollar in Nigeria: get the current naira dollar exchange rate today in the black market.
As the Nigeria naira appreciate and depreciate, people especially the business ones sort to know the latest on dollar to naira exchange rate. Exchanging your dollar in the black market will give you more gain or money compared to the bank rate which is lot lower.
Not only that, the black market rate affects the price of commodities or goods in the market, as business owners tends to go with the parrel market rate. Afribankonline will continue to update this post on abokifx black market rate for dollar in Nigeria. What you have to do is to bookmark this page and visit it for the latest information.
Since this year, there’s no much improvement on the Nigeria naira to dollar exchange rate in the black market though since the turn of this month, it appreciated a bit. One thing with the exchange rate in Nigeria is that if you want to make payment online, bank will charge you based on the BM but if you are selling your dollar it will be on the bank rate which is too low.
Black Market Rate for Dollar in Nigeria
As the black market rate for dollar in Nigeria fluctuates, this is the current rate as at September 2018.
Buying N357 per dollar
Selling N361 per dollar
But the bank rate is still N305 per dollar though some banks are transacting N315 per one dollar.
How two Create a Dollar Account(Domiciliary Account)
Exchanging your dollar to naira with bank rate is a huge waste of money, just imagine having $1000 and exchanging it with the bank rate which is N315. It will be N315,000 but with black market rate, it will be N361,000. When you check it you will see that you given your bank N46,000.
To crown it worst is that if you want to make payment online which is in dollars, bank will charge you N360 which is the black market rate and not N315(bank rate).
So you see the major reason why you should try and create a domiciliary account for yourself. To do that isn’t difficult and the best is Guranty trust bank, Diamond Bank, First bank Nigeria and access bank. But you can go for any bank that suite you.
To create a domiciliary account, visit any bank you want to and meet with the customer care requesting that you want to open a foreign account(domicilary). There’s no different with creating a savings account though you will have to pay $50 for gtbank, $100 for first bank, $50 for diamond Bank. Follow up with your bank procedure and after that you will recieve your domi account number.
You can recieve any currency to that account except naira, though some bank(s) have a fee for each money received on that account. First bank charges are high compared to other banks in Nigeria. After that you should withdraw your money head to any black market you like and change your dollar to naira in the black market exchange rate.
With a domiciliary account, you can make online payment especially if you have a dollar debit card.
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