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 28th July 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 N865 and sell at N872 on Friday, 28th 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N865 |
| Selling Rate | N872 |
Consider a typical day in the life of Mr. Chukwu, a small business owner in Lagos. His morning ritual invariably starts with a visit to the bank to withdraw the amount of cash to sustain his shop operations for the day or deposit the excess amount of cash from the previous day’s sales. From catering to customers’ change needs to safeguarding his earnings from potential theft, the tangible presence of cash, while familiar, also brings with it a unique set of challenges.
Now, imagine a different scenario. A scenario where Mr. Chukwu no longer has to worry about these issues. This is the promise of a cashless society. In such a society, his daily transactions would be seamless, immediate, and secure, freeing up his time and mental bandwidth to focus on what he truly loves – serving his customers and improving his business.
Moreover, a cashless economy can provide businesses like Mr. Chukwu’s with a new kind of asset – data. Every digital transaction tells a story, providing valuable insights about consumer behaviour. Businesses can tap into this data to understand their customers better, tailor their offerings, and make informed, data-driven decisions. This, in turn, can help businesses drive growth and foster customer loyalty.
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