Dollar to Naira Exchange Rates

Black Market Dollar To Naira Exchange Rate Today 11th July 2022

Published

11 July 2022

6:57 AM

Naira Loses Against The Dollar, Falls To N1,120/$ At Black Market

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 10th July, 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 N590 and sell at N613 on Sunday, 10th July, 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 Black Market Rate Today

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Buying Rate	590
Selling Rate	613

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

Nigeria’s Foreign Investment Plummet By 81% Amid Interest Rate Rise

The National Bureau of Statistics disclosed in a recent publication that capital importation into Nigeria plummeted by 81.46 per cent ($6.91bn) from $8.49bn in the first quarter of 2019 to $1.57bn in the corresponding quarter of 2022.

Based on the data, the country’s capital importation for the first quarters of 2019, 2020, 2021, and 2022 showed a steady fall in capital inflows into Nigeria.

NBS said the capital importation data which is obtained from the Central Bank of Nigeria showed that total capital inflow fell by 31.01 per cent from $8.49bn in Q1 2019 to $5.85bn in Q1 2020.

It revealed also a fall of 67.45 per cent to $1.91bn in Q1 2021 and further declined by 17.46 per cent to $1.57bn in Q1 2022.

Naija News understands that the reported figures were derived from capital inflow which includes imported physical capital, such as equipment, and financial capital importation.

The report explained that foreign investment is divided into three main investment categories: foreign direct investment, portfolio investment, and other investments.