Black Market Dollar To Naira Exchange Rate Today 20th 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 19th 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 N620 on Tuesday, 19th 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
620

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

Worries As Food Inflation Hits 20.60% In Nigeria

Nigeria’s food inflation has moved from 19.50 per cent recorded in May 2022 to 20.60 in June, the National Bureau of Statistics revealed in its recent report.

Naija News understands that the development has raised the eyebrows of traders and buyers who are now calling for viable intervention.

The food price rise is said to be a reflection of the holistic process of food production in the country, from harvesting to when the final product is available to buyers in the market.

The cost of basic farming utilities like fertiliser and farming contributes to the unfriendly development.

NBS said the composite food index rose to 20.60 per cent in June 2022 on a year-on-year basis; the rate of changes in average price level declined by 1.23 per cent compared to 21.83 per cent in June 2021.

According to the firm, the rate of changes in food prices compared to the same period last year was higher due to higher food price volatility caused by COVID 19.

It also noted that the food index was impacted by increases in prices of bread and cereals, food products, potatoes, yam, and other tubers, meat, fish, oil and fat, and wine.