Black Market Dollar To Naira Exchange Rate Today 13th June 2022

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 12th June, 2022, below. You can swap your dollar to Naira at these rates.

How much is dollar to naira today in 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 N600 and sell at N610 on Sunday, 12th June, 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

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices varies.

More Nigerians Will Fall Into Extreme Poverty – World Bank Predicts

More people in Nigeria and its Sub-Saharan neighbours are expected to fall into extreme poverty, according to the World Bank.

A report released through a World Bank newsletter titled, “Global Economic Prospects,” revealed that Russia’s invasion of Ukraine and its effect on the commodity market, supply chains, inflation, and financial conditions have intensified the slowdown in economic growth.

It further stated the possibility of high global inflation could eventually result in tightened monetary policy in advanced countries which might lead to financial stress on emerging markets and developing economies.

The report also quoted the World Bank President, David Malpass, as saying that the world was facing the deepest global recession since World War II.

He said, “The global economy is facing high inflation and slow growth at the same time. Even if a global recession is averted, the pain of stagflation could persist for several years- unless major supply increases are set in motion.”