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 21st June 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 N755 and sell at N765 on Wednesday, 21st June, 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 | N755 |
| Selling Rate | N765 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
A new Central Bank of Nigeria (CBN) directive could see the nation’s export value increase to at least N41.99tn annually.
This move comes after the CBN ordered Deposit Money Banks to eliminate the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market.
The goal is to reduce the disparity between the official and parallel market rates of the naira.
The CBN announced, “The Central Bank of Nigeria wishes to inform all authorised dealers and the general public of the following immediate changes to operations in the Nigerian Foreign Exchange Market: Abolishment of segmentation. All segments are now collapsed into the Investors and Exporters window.”
Following this change, the naira fell from 471/dollar to 664.04/dollar, ending the week at N663.04/dollar.
This devaluation means exporters, including the Federal Government, stand to earn more revenue (in naira terms) from their dollar-based export earnings.
Last year’s total export was $63.34bn. Converted at December 30, 2022’s central dollar rate of N448.55/dollar, this would have been equivalent to N28.41tn.
However, using the recent exchange rate of N663.04/dollar, the same export value would amount to N41.99tn.
