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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 21st 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 N1590 and sell at N1598 on Monday 21st July 2024, 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 | N1590 |
| Selling Rate | N1598 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1584 |
| Selling Rate | N1585 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Price Of Garri, Guinea Corn, Bread, Yam, Palm Oil, Others Reason For Increasing Inflation Rate – NESG
The Nigeria Economic Summit Group (NESG) has expressed concerns regarding the escalation of inflationary pressures within the Nigerian economy, attributing this to the escalating costs of food prices.
During a quarterly briefing on the nation’s economic forecast, the Chief Executive Officer (CEO) of the NESG, Dr Tayo Aduloju, articulated these concerns. He anticipates that the Central Bank of Nigeria (CBN) will persist in its inflation-targeting policies, potentially leading to an increase in the Monetary Policy Rate (MPR).
Inflation has been on a consistent upward trajectory in recent months, as reported by the National Bureau of Statistics (NBS), which observed a headline inflation rate of 34.19% in June.
Furthermore, the report indicated a food inflation rate of 40.87% on a year-on-year basis, marking a 15.62% increase from the rate observed in June 2023 (25.25%).
The surge in food inflation was attributed to the escalating prices of various food items, including Millet Whole Grain, Garri, Guinea Corn, etc. (Bread and Cereals Class), Yam, Water Yam, Coco Yam (Potatoes, Yam & Other Tubers Class), Groundnut Oil, Palm Oil, etc. (Oil & Fats Class), and Catfish Dried, Dried Fish-Sadine, Mudfish (Fish Class), among others.
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