Black Market Dollar To Naira Exchange Rate Today 19th July 2022

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 18th July, below. You can swap your dollar to Naira at these rates.

How much is dollar to naira today in 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 N590 and sell at N616 on Monday, 18th July, 2022, 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
590

Selling Rate
616

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

Nigeria’s Inflation Rises To 20%, Passes World Bank Projection

Nigeria’s inflation rate has risen to 20 percent above the World Bank’s projection of 15.5 percent, despite the Central Bank of Nigeria (CBN) raising the country’s interest rate.

Recall that the World Bank had in a recent report titled ‘Nigeria Development Update (June 2022): The Continuing Urgency of Business Unusual,’ projected that Nigeria’s inflation rate was going to be higher than it had anticipated and would hit 15.5 per cent.

The latest inflation figure from the National Bureau of Statistics, released on Friday, showed that the nation’s inflation rose to 18.60 per cent in June, the highest since January 2017 when it was 18.72 per cent.

“This means that the headline inflation rate increased in the month of June 2022 when compared to the same month in the previous year (i.e., June 2021). Increases were recorded in all COICOP divisions that yielded the Headline index.

“On a month-on-month basis, the headline inflation rate increased to 1.82 per cent in June 2022, this is 0.03 per cent higher than the rate recorded in May 2022 (1.78 per cent).”

According to the statistics body, urban inflation rose to 19.09 per cent and rural inflation hit 18.13 per cent in June 2022. This is despite the recent interest rate increase by the Central Bank of Nigeria.