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Black Market Dollar To Naira Exchange Rate Today 27th January 2023


Dollar to naira exchange rate today

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 January, 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 Thursday 26th January 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
Buying RateN740
Selling RateN750

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

CBN MPC Takes Fresh Decisions Amid Old Naira Notes Deadline Saga

The Central Bank of Nigeria (CBN) revealed on Wednesday that some fresh decisions were taken at its Monetary Policy Committee (MPC) meeting held on Monday and Tuesday.

The outcome of the MPC meeting was made available to the public domain in a document signed by the CBN Governor, Godwin Emefiele, Naija News reports.

The meeting came amidst controversies surrounding the recent Naira redesign and cash withdrawal limit policies by the apex bank.

Also, the deadline on the validity of the old naira notes is causing outrage among citizens as many lament the availability of the new Naira notes at banking halls and Automated Teller Machine (ATMs) points.

Nothwithstanding, some of the crucial deliberations at the just concluded CBN MPC meeting include; raising the Monetary Policy Rate (MPR) by 100 basis points to 17.5 per cent; retaining the asymmetric corridor of +100/-700 basis points around the MPR; retaining the CRR at 32.5 per cent; and retaining the Liquidity Ratio at 30 per cent.

The subject matters were arrived at following votes by members of the committee.

Read below the full text from the CBN MPC meeting:

“The Monetary Policy Committee (MPC) held its first meeting for 2023 on the 23rd and 24th January, 2023, as optimism of a rebound in global output recovery waned considerably, giving room for increased concerns of a likely global recession in 2023.

“This is driven by several global shocks impacting negatively on growth and price development. Major headwinds to global growth include: ongoing geopolitical tensions in some regions; intensified disruptions to the energy market; persisting supply bottlenecks; resurgence of the COVID-19 pandemic in major industrial cities in China; and tightening external financial conditions. In addition to these, the slow growth in global trade, continued volatility in the oil market and growing private and public debt portfolios, are clear signals of increasing uncertainty, imposing a drag on growth.

“In the domestic economy, output growth recovery was subdued in the third quarter of 2022, but expected to recover moderately in the fourth quarter on the back of continued support of both monetary and fiscal policy through various interventions in growth-enhancing sectors. At this meeting, the Committee reviewed these and other developments in the global and domestic economic and financial environments in 2022, as well as the outlook and risks for 2023.

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“Twelve (12) members of the Committee attended this meeting.”

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