Naira To Dollar Black Market Rate Today 16th July 2023

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 15th July 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 N805 and sell at N810 on Saturday, 15th July 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	N805
Selling Rate	N810

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Report Shows Drop In Foreign Investments For Nigeria’s Manufacturing Sector

Foreign investments into Nigeria’s manufacturing industry saw a significant decrease of 35% from $392.5 million in the last quarter of 2022 to $256 million in the initial quarter of 2022, as per the 2023 Q1 capital importation report by the National Bureau of Statistics.

The report also highlighted a general decline in capital importation into Nigeria in Q1 2023, standing at $1.1 billion, a decrease of 28% from the $1.5 billion recorded in Q1 2022.

Despite this downturn, the production sector still managed to secure the second-highest share of total investments at 22%.

The banking sector topped the list, with an inflow of $304.5 million, accounting for nearly 27% of total capital imported in Q1 2023.

Previously, the Manufacturers Association of Nigeria had raised concerns about the declining investments in the sector due to a challenging business environment, characterized by high energy costs, limited access to funding, and multiple taxation.