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 18th November, 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 N770 and sell at N787.50 on Friday 18th November 2022, 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 | N770 |
| Selling Rate | N787.50 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
The National Bureau of Statistics (NBS) says the endless depreciation of the naira and the rising inflation have eroded workers’ N24.88tn salary received in the first six months of 2022.
According to data on employees’ compensation by the Bureau the salaries of workers in the Nigerian formal sector increased from N21.80tn in the first six months of 2021 to N24.88tn in the corresponding period of 2022.
This represents an N3.08tn increase within the period. But when adjusted for inflation, the NBS said the data revealed that there was only an N550.97bn increase.
According to the Punch, the data means that not only was the N3.08tn increase in salary eroded, but the total salary of nearly N25tn also depreciated.
The data revealed that the compensation of employees at 2010 purchaser’s value was N10.71tn in the first six months of 2021, which marginally increased to N11.26tn in the corresponding period of 2022.
