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 N871 and sell at N875 on Wednesday, 2nd 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 Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N871 |
| Selling Rate | N875 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Experts React, As Nigeria Loses $167.2 Million External Reserves In July
The President, Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, has reacted to the shed in the country’s external reserves.
Gwadabe said the increasing demand of oil marketers, investors backlog, school fees, and travellers have continued to mount demand pressure on the limited dollar availability in the market.
His reaction follows a loss of $167.2 million in Nigeria’s external reserves only in July.
Naija News gathered that in the past two weeks, the naira fell from 820/$ to 868/$ at the parallel market on Monday.
Figures obtained from the Central Bank of Nigeria (CBN) on the movement of external reserves revealed that the reserve, which ended June 30, 2023, at $34.12 billion, fell to $33.95 million as of July 28, 2023, meaning a difference of $167.2 million fall was recorded.