Black Market Dollar To Naira Exchange Rate Today 12th 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 11th 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 N611 on Monday, 11th 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
611

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

Nigeria Foreign Exchange Inflow Appreciate By $10.75bn

A monthly data report by the Central Bank of Nigeria (CBN) showed that the country recorded the sum of $10.75bn foreign exchange inflow in two months.

Naija News understands that the data contained in the apex bank’s monthly economic report on forex showed that the reported figures were driven by favourable sovereign ratings and higher oil and gas prices.

The development indicates a higher net foreign exchange inflow.

The CBN report noted that aggregate foreign exchange inflow into the economy rose by 42.8 per cent, to $6.32bn in February 2022, compared to $4.43bn in January 2022.

“However, the total foreign exchange outflow decreased by 5.8 per cent to $3.17bn, from the $3.36bn in the preceding month.

“Further analysis shows that foreign exchange inflow through the CBN rose by 36.7 per cent to $2.49bn from $1.82bn in January 2022, attributed, mainly, to the 53.0 per cent increase in non-oil components, such as institutional swaps, returned payments, TSA, and Third-party receipts, and other official receipts,” the report noted.