Black Market Dollar To Naira Exchange Rate Today 14th July 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 13th 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 N612 on Wednesday, 13th 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	612

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

The Fall Of Euro Against Dollar: Who Are The Winners And The Losers?

The euro has just reached parity with the dollar. Why this fall in the European currency? And what are the consequences? Here are some answers.How much is a euro worth in dollars?

The value of the euro has been falling for a year against the dollar. With 1 €, you could get 1.19 dollars a year ago. Today, with 1 €, we only have 1 dollar. This Wednesday, July 13, 2022, the euro even briefly fell below the symbolic threshold of one dollar.

In other words, the European currency has lost 15% of its value. It regains its level of 2002, the year of its entry into circulation.

Why is the euro falling?

To understand, you have to go into the mechanics of currencies. They vary between them notably under the effect of capital movements. Currently, we are seeing transfers from Europe to the United States,” observes Patrick Artus, economic adviser to Natixis. Investors (insurance companies, pension funds, etc.) sell the euro to buy the dollar, which causes the European currency to fall and the American currency to rise.

Why are investors selling their euros?

The capital goes where the “bonds” (state debts), in particular, bring in the most. A ten-year US debt security today offers an average interest of 3%, twice that expected in Europe. And the gap should widen. This is explained by a different level of intervention by central banks on either side of the Atlantic. To curb consumption and inflation, they increase the interest rates they control. But the financial markets anticipate a lower rate hike from the European Central Bank than from the US Federal Reserve,” notes Patrick Artus. This movement towards American securities is accentuated by the war in Ukraine. The threat of a Russian gas cut poses a risk to growth in Europe.