Naira To Dollar Black Market Rate Today 26th August 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 August 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 N905 and sell at N915 on Friday, 25th August 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	N905
Selling Rate	N915

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

CBN Tackles JP Morgan Over Estimation Of Nigeria’s Net FX Reserves

The Central Bank of Nigeria (CBN) has berated American Financial Service Institution, JP Morgan, over its recent estimation of the country’s Foreign Exchange (FX) reserves.

Naija News reported that JP Morgan had earlier in the week estimated that the CBN’s net FX reserves fell to $3.7 billion at the end of 2022, compared to $14 billion in 2021.

But in an interview on Africa Independent Television (AIT) on Wednesday, the Director of the Monetary Policy Department in the CBN, Hassan Mahmud, said the recent estimate of the country’s FX reserves by JP Morgan was presented out of context.

Mahmoud said the estimation by the American financial institution was to arouse market sentiments or to mislead the public. He added that fluctuations, liabilities and encumbrances to the reserves were only natural and normal.