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 18th October, 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 N730 and sell at N742 on Tuesday 18th October 2022, 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 | 730 |
| Selling Rate | 742 |
The National Bureau of Statistics (NBS) has today disclosed in its monthly report that Nigeria’s inflation rate hit 20.77 % in the month of September 2022.
According to the report, titled ‘inflation rate rose to 20.77% in September 2022, on a year–on–year basis, the rate increased from 20.52 % in August 2022 to 20.77 % in September 2022, as compared to 16.63 %in September 2021.
NBS noted that the inflation rate will continue to remain high this year as a result of the flood in some states, which has destroyed crops and farmlands.
Truetells Nigeria gathered that the report said the jump in the consumer price index (CPI) was triggered by an increase in food inflation due to higher prices paid by Nigerians to purchase bread and cereals, potatoes, yam, oil, and fat.
It advanced that the food inflation rate in September 2022 was 23.34 % compared with the 19.57 % recorded in September 2021 and 23.12% in August 2022.
The September report stated that the percentage change in the average CPI for the 12-month period ending September 2022 over the average of the CPI for the previous 12-month period was 17.43%, showing a 0.60% increase compared with the 16.83% recorded in September 2021.
According to the NBS urban inflation, on a year-on-year basis, remained at 21.25% last month, as compared to 17.19$ in the same period last year.
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