Dollar to Naira Exchange Rates
Naira To Dollar Black Market Rate Today 13th June 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 12th June 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 N760 and sell at N765 on 12th June, 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 Rate | N760 |
| Selling Rate | N765 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Naira Loses 76% Value Under Emefiele As CBN Governor
The naira has lost about 76.17 percent of its value since June 2014 when the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, took office.
It was observed that the naira official rate compared to the US dollar had fallen from N164 to N462.4 (or 64.53 percent) since June 2014.
Within the same timeframe, the naira has weakened from $1/N183 to $1/N768 in the parallel market, which also indicates the currency has suffered a 76.17 percent depreciation since 2014 under Emefiele.
According to The PUNCH, the naira lost significant value under Emefiele than most CBN governors since 1999.
A breakdown of how the currency moved under each CBN governor showed that under Joseph Sanusi, the naira-to-dollar exchange rate moved from N99 to N132. Joseph Sanusi spent five years at the helm of the apex bank between 1999 and 2004.
Under Chukwuma Soludo (2004-2009), the dollar exchange rate moved from N133 to N147, while under Lamido Sanusi (June 2009-February 2014), the dollar exchange rate moved from N148 to N157
