What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)? See the black market Dollar to Naira exchange rate for 29th May, below. You can swap your dollar for Naira at these rates.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N760 and sell at N775 on Monday 29th May 2023, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N760 |
| Selling Rate | N775 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
The Nigeria Employers’ Consultative Association (NECA) has said the increase of the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN) will increase the cost of borrowing which would further discourage investments in the sector.
OsunDaily News reported that the Governor of the apex bank, Godwin Emefiele, on Wednesday, announced that the MPR has increased from 18 percent to 18.5 percent.
In a chat with The Punch, the Director General of NECA, Wale Oyerinde urged the government especially, the monetary policy authority, to tackle inflation by addressing the issue of imported inflation.
Oyerinde advised the government especially, the monetary policy authority, to tackle inflation by addressing the issue of imported inflation.
He said with the increase in MPR by 18.5 percent, businesses could be at risk of additional increases in production costs which could lead to higher inflation.
