Do you want to exchange your Dirham for Naira at a local bureau de change (aboki) and you want to know the value of your Dirham in Naira? Read this article for more information. We will also provide you with safety tips to ensure that you exchange your money.
The UAE Dirham to Naira exchange rate in the black market as of today is ₦400. If you take 1 Dirham to the black market, you will receive ₦400. The UAE Dirham as the name implies is the official currency official currency of the United Arab Emirates. It is abbreviated as AED and symbolized as ( د.إ.). The Dirham is divided into 100 fils.
Coins come in 1, 5, 10, 25, and 50 fils, and 1 dirham. The 1, 5, and 10 fils coins are not used much because of their low value. Banknotes are available in 5, 10, 20, 50, 100, 200, 500, and 1,000 dirhams. Each note has unique designs and security features to prevent counterfeiting.
Note: If you are looking to buy Dirhams in the black market, you will be charged N415 for each Dirham you buy.
How Much is 100 Dirhams to Naira in the Black Market Today?
The black market rate for 100 Dirham to Naira is ₦40,000. This does not apply to banks, if you take your Dirham to any bank, you will receive a slightly lower rate. Why you may ask, this is because they have a fixed rate controlled by the CBN.
Also, note that the rate provided above only applies to a single 100 dirham note. If you exchange 100 dirhams but in smaller denominations, you will receive a lower rate. This is because handling fees apply to smaller notes and smaller notes are not highly sought-after.
What are handling fees? Simple, handling fees when it comes to exchange rates, are extra charges that banks or currency exchange services add when you exchange one currency for another. When you exchange smaller denominations to make a hundred dirhams, you will get a lesser amount because of handling fees. These fees are small charges that banks or currency exchange services add to each transaction.
For example, if you exchange ten 10-dirham bills instead of one 100-dirham bill, the handling fees might be applied to each 10-dirham bill separately. This means you will end up paying more in fees overall, and therefore, you will get a slightly lesser amount back than if you exchanged one larger bill.
UAE Dirham To Naira Black Market Rate
| Dirham (د.) | Naira (₦) |
|---|---|
| 100 | 40,000 |
| 200 | 80,000 |
| 500 | 200,000 |
| 600 | 240,000 |
| 1000 | 400,000 |
| 6000 | 2,400,000 |
Note: These rates may change at any time and even more than once on the same day. Always check the current rates in the black market before changing your money to avoid being cheated. If you are changing money with Aboki, ensure that you do it in a safe and secure place, you can also carry a trusted person along for added security.
We hope you found our articles helpful and informative. You can always rely on our site to provide the most up-to-date information on the exchange rates for currencies used around the world. Please share this article with friends.
