Black Market Dollar To Naira Exchange Rate Today 27th December 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 26th December, 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 N750 on Monday 26th December 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	N740
Selling Rate	N750

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

World Bank Laments That Extreme Poverty Is Increasing In Nigeria

The World Bank Group said the covid-19 pandemic has had a long-lasting effect on long-term growth, mainly hurting the poorest individuals and escalating extreme poverty in Sub-Saharan Africa.

According to the World Bank Group, the demanding goals of poverty reduction and shared prosperity cannot be met in the medium to long term with the projected growth in per capita income for Nigeria and the rest of Sub-Saharan Africa of 0.7% in 2022.

The bank claimed that poverty reduction trends, which were already stalled by covid, had slowed down even more in its latest study, “Africa’s Pulse: An analysis of challenges impacting Africa’s economic destiny.”

It also noted that the slow recovery of the Nigerian economy following the pandemic and the setback caused by rising prices were insufficient to make up for the loss of income and jobs brought on by the pandemic.

“Rising inflation is weighing on economic activity in Sub-Sahara. The upward trend in inflation following the post-pandemic period was exacerbated by the war in Ukraine, soaring to record highs in many countries”, the report claimed.

“The escalation of the war has fueled a rise in commodity prices, particularly food and energy prices. High pass-through of food and fuel prices to consumer prices has caused headline inflation to spike.”