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 22nd August below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N850 and sell at N860 on Tuesday, 22nd August 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N850 |
| Selling Rate | N860 |
Some days back, the National Bureau of Statistics (NBS) disclosed that Nigeria’s headline inflation jumped from 22.79 per cent to 24.08 per cent in July 2023.
The report led to an array of feelings comprising of worry, frustration and even disbelief.
The disbelief was far from whether the over 100 basis point rise was real. Instead, the citizenry complained that the report did not reflect the market reality.
The report read, “In July 2023, the headline inflation rate rose to 24.08 per cent relative to June 2023 headline inflation rate, which was 22.79 per cent.
“Looking at the movement, the July 2023 headline inflation rate showed an increase of 1.29 per cent points when compared to June 2023 headline inflation rate.
“On a year-on-year basis, the headline inflation rate was 4.44 per cent points higher compared to the rate recorded in July 2022, which was 19.64 per cent. This shows that the headline inflation rate (year-on-year basis) increased in July 2023 when compared to the same month in the preceding year (i.e., July 2022).”
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