Naira To Dollar Black Market Rate Today 16th October 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 15th October 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 N1040 and sell at N1050 on Sunday, 15th October 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	N1040
Selling Rate	N1050

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

Forex Crisis Is Killing Many Industries – Manufacturers, SMEs Cry Out As Naira Plunges To 1,025/$

Manufacturers and Small and Medium Enterprises (SMEs) have cried out over the ongoing forex crisis in the country, Naija News has learned.

According to them, the constant plunge of the naira is killing so many industries and causing many to lose their jobs.

This platform gathered that on Tuesday, the naira further fell as it exchanged for the dollar at the parallel market between 1,005/$ and 1,025/$.

Reacting to this, manufacturers have said if nothing is done, more companies will fold up, and many more will become jobless.

Speaking to The Punch, the Chairman of the Nigerian Association of Small and Medium Enterprises, South-West, Dr Solomon Aderoju, said the cost of production is increasing following the falling value of the naira, adding that businesses were also battling other challenges, such as high fuel costs.