Black Market Dollar To Naira Exchange Rate To 18th February 2023

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 17th February, 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 N747 and sell at N755 on Friday 17th February 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

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

Private Sector Blames Fuel Scarcity As Inflation Hits 21.8%

As Nigerians struggle to come out of the fuel and naira crisis, inflation soared to 21.82 per cent in January 2023.

January’s inflation rate is 0.48 percentage points higher than the 21.34 percent that was reported in December 2022, according to the National Bureau of Statistics (NBS).

NBS revealed that January’s inflation is driven by increases in the prices of food items such as bread and cereal, potatoes, yam and tuber, vegetables, and meat, and rent.

December 2022 was the first time Nigeria’s inflation rate eased after rising consistently for 11 months.

While 2022 started with an inflation rate of 15.60 per cent in January, the year ended with inflation at 21.34 per cent.

NBS stated that in 2022 disruption in the supply of food products, increases in import cost due to naira depreciation, and a general increase in the cost of production drove inflation.

January 2023’s inflation rate of 21.82 per cent is a 6.22 percentage point increase from January 2022’s rate of 15.60 per cent. In July 2022, inflation rose to a 17-year when it hit 19.64 per cent on a year-on-year basis. It has since crossed that.