Dollar to Naira Exchange Rates
Black Market Dollar To Naira Exchange Rate To 23rd March 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 22nd March, 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 N740 and sell at N747 on Wednesday 22nd March 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|
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Economists Knock CBN, Emefiele Over 18% Interest Rate Hike
The benchmark interest rate by 50 basis points to 18% from 17.5 per cent announced on Tuesday by the Central Bank of Nigeria (CBN) has been criticised seriously by economists.
Naija News reports that the embattled governor of the apex bank, Godwin Emefiele, announced the rise yesterday while reading the communique of the year’s second Monetary Policy Committee (MPC) meeting.
Emefiele noted that the committee voted to keep the asymmetric corridor at +100 and -500 basis points around the MPR. Addressing pressmen shortly after the two-day MPC, the CBN governor said the slight hike is to prevent the effect of inflation and other economic issues.
He said, “The MPC committee voted to raise the MPR by 50 basis points to 18 per cent, retain asymmetric corridor at +100 and -500 basis points around the MPR. Members resolved by a majority vote to raise the money policy rate NPR by 50 basis points. In summary, ten members voted to raise MPR by 50 basis points, one voted to raise MPI by 25 basis points, and one voted to hold the MPR.
“All members voted to keep all other parameters constant. The MPC voted to raise MPR to 18 per cent, retain a symmetric corridor plus 100 and minus 500 points around the MPR, retain the CRR at 32.5% and retain liquidity ratio at 30 per cent.”