Abokifx website is a popular Nigerian online platform where you can get daily, accurate and reliable updates about the black market foreign exchange rate for Naira.
Abokifx rates are updated three times in a day showing two (**) for afternoon update and three (***) for the last daily market date.
Because of its consistency and accuracy, the website abokifx.com is fast becoming the the most authoritative voice, number one go-to site to check latest currency exchange rates.
THINGS YOU CAN DO ON ABOKIFX WEBSITE:
Lagos parallel market rates/Black market rates:
Dollar Naira Exchange Rate Today From Abokifx
On the AbokiFX website, you can check live exchange rates and see daily Naira exchange rates. Daily FX rates against the Dollars (USD), Pound Sterling (GBP), Euro (EUR) and other currencies like (GHS) Ghana Cedis, XAF and XOF Benin and Cameroon Francs.
If you ever need euro to Naira black market rate, euro to naira exchange rate in black market, dollar to naira rate in black market today, dollar to naira black market rate today, visit abokifx.com
Currency conversion calculator:
On the AbokiFX website, the currency conversion calculator is one of the most important feature.
The calculator lets you know exactly how much you get in a particular foreign currency in exchange for a specified amount of Naira.
The Currency Conversion Calculator on Abokifx.com will come in handy if you need to:
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Convert Dollar to Naira 2018 – Current Exchange Rate of 1 USD to NGN Today (Black Market & CBN), Abokifx Rate Today, FX Rates and so on.
Dollar Naira Exchange Rate Today AbokiFX Black Market.How Much is Dollar to Naira (Convert USD to Naira) Today.
Western Union Rates:
Western Union Dollar to Naira Rate.
If you want to send money and/or receive money via Western Union, AbokiFX lets you see the current Western Union exchange rate for Nigerian Naira (NGN) against other currencies like the United States Dollars (USD), the United Kingdom Pound Sterling (GDB) and the EURO.
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Moneygram Rates | Moneygram Receiving rates:
Money Gram Dollar Naira Rate.
Rates charged by international money service firms like MoneyGram can be found on Abokifix.com. This information comes in handly if you are looking for moneygram exchange rate dollar to naira, moneygram exchange rate dollar to naira today, exchange rate dollar to naira moneygram, moneygram dollar to naira exchange rate, moneygram rate in nigeria
Abokifix website provides you the daily bank ATM rates that will give you a working idea of what exchange rates banks in Nigeria give their customers, under the close supervision of the CBN. If you desire to know the rates of currency as well as the monthly rate postings, then this tab on Abokifx will be perfect.
CBN Official Rates | CBN Exchange Rates
CBN/Official Exchange Rate of Dollar to Naira Today.
On the Aboki website, you can access the latest information regarding official rates set by the Central Bank of Nigeria (CBN). The Abokifix website features a direct connection to the official Central Bank of Nigeria rates which empowers users as they are able to keep tabs on what CBN official rates are while checking the parallel market rates.
Black Market BDC Rates | LAGOS BUREAU DE CHANGE RATES (BDC)
Lagos Bureau de Change rates are available on Abokifx.com. In Nigeria, BDCs form an important part of the foreign exchange ecosystem in Nigeria. If you ever need to know what the businesses sanctioned by the CBN to feature in the forex market has to offer, you’ll find your answers on the fx website.
Indepth Coverage of Parallel Market FX Rates
The AbokiFX app saves Nigerians sourcing for their foreign exchange requirement from making mistakes due to uncertainties or insufficient knowledge by providing exchange rates at last three times in a day. First in the morning, then afternoon and then, evening.
This eliminates any misinformation and information is available for all the major currency pairs such as the Pound, the Dollar and the Euro rates against the Naira.
Economic News and Updates
Abokifx users can receive information regarding policy and fiscal decisions made by monetary/financial regulatory agencies, trends and forecasts in the Nigerian and global financial markets.
They also receive insightful analysis and commentaries as well as news events on the current economic realities and also, in-depth analysis that covers happenings in the currency exchange market and the global economy as a whole.
The AbokiFx News is structured on a month-by-month basis and provides different perspectives to users for making informed choices and accurate economic and financial decisions.
How to use AbokiFX
To use AbokiFX, all you need do is:
- Visit their official website on abokifx.com
- Use the navigation boxes on the website to get various dollar/euro/pound exchange rates as required.
- To download the Abokifx mobile app, see below
- To report any issue or contact Abokifix, use the contact page on the website.
AbokiFX App | Aboki Forex App
AbokiFX has apps available for download both for Android and iOS devices. On the AbokiFX website, you can download the most compatible version of the mobile app for use on your phone, tablets as well as on other smart devices.
There is a guide that shows you the proper steps to follow in downloading the aboki apps on your phone and how to navigate through the features on the application.
Most Used Terms About USD to Naira Exchange Rate Explained:
If you have ever wondered what these forex terms about USD to Naira exchange rate really mean, continue reading below:
Exchange Rate Dollar Naira.
Exchange Rate Dollar Naira is the equivalent amount of 1 dollar in Naira. If you check the website today, 1 dollar = 357 Naira. This simply means exchange rate dollar to naira is 357 Naira.
The same explanation goes for terms like dollar to naira, 1 dollar to naira today, convert usd to naira.
However, when the term switches to Exchange Rate of Naira to Dollar, then it is simply the other way round. It means you are expected to convert 1 Naira to dollar. Which is 1/357 = 0.00280 dollar.
That explains Naira to dollar and dollar to naira. It’s worthy to note that over the years, looking at the dollar naira exchange rate history, the Nigerian Naira NGN has not been doing great compared to foreign currencies.
Way back in 1988, The exchange rate was 1 $ = N 1.
In 1999, the exchange rate shot up to 1 $ = N21.89
Today (2018) the rate is 1$ = 357 Naira.
1000 DOLLARS TO NAIRA = 357 X 1000 = 357,000 NAIRA.
100 DOLLARS TO NAIRA = 357 X 100 = 35,700 NAIRA.
What do you think about that?
Black Market Exchange Rate:
Black Market Exchange Rate can also be referred to as aboki fx rate. It simply means the exchange rate of 1 usd to naira on the street.
It is called Aboki FX rate because most black market agents are Abokis. So the exchange rate they buy and sell dollar for naira is called black market rate.
CBN is an acronym for Central Bank of Nigeria. CBN rate is the amount in Naira the Central Bank of Nigeria is buying or selling 1 dollar. Parallel market rate can be used in its place.
Bank rate is sometimes referred to as Nigerian bank exchange rate. It is how much Nigerian banks will charge your bank cards – Naira Mastercard or Visa card when you use it to buy anything online on foreign sites that receive payments in dollars.
This rate varies with different banks in Nigeria but it’s usually higher than CBN rate and lower than black market rate.
Buying Rate & Selling Rate:
Buying or buy rate is the amount in Naira that CBN, abokis, western union, moneygram or banks will give you for 1 dollar.
Selling or sell rate on the other hand refers to how much in Naira that banks, CBN, western union, moneygram or abokis will collect/charge you for a dollar.
Selling rate is always higher than Buying rate.