Dollar to Naira Exchange Rates
Naira To Dollar Black Market Rate Today 26th July 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 25th July 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 N863 and sell at N870 on Tuesday, 25th July 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 | N863 |
| Selling Rate | N870 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Petrol Price May Hit N1000 Per Litre – Experts Warn
Economists have urged the Federal Government to intervene in the foreign exchange market to prevent the Naira from plunging against the dollar.
This, they believe, is critical to avoid a potential petrol price surge that could reach N1000 per litre.
Speaking with Nigerian Tribune, several experts advised against solely relying on market forces to dictate the Naira’s value.
They noted that Asian nations do not completely submit to market dynamics, suggesting that the Nigerian government adopt a similar stance.
The economists recommended that the government provide petrol importers with special, concessional foreign exchange rates. This move would facilitate the import of cheaper petrol, unaffected by fluctuations in the international market.
Looking ahead, the experts called on the government to refurbish local refineries, enabling domestic petroleum product refinement to satisfy the country’s needs.
