Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 18th April 2024

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 17th April, 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 N1020 and sell at N1050 on Wednesday 17th April 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
N1020

Selling Rate
N1050

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)
CBN Rate Today

Buying Rate
N1146

Selling Rate
N1147

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

Why Prices Of Bread Are High – Bakers

The Premium Breadmakers Association of Nigeria (PBAN) has shed light on the escalating costs of bread in the country, citing exchange rate volatility and international conflicts as primary factors.

PBAN President, Emmanuel Onuorah, detailed these issues during an appearance on Arise News’ Global Business Report on Tuesday.

Onuorah explained that the instability of the Nigerian currency and its impact on the cost of imported materials necessary for bread production are major contributors to the rising prices.

“Most of the raw materials used in the production of bread are imported, and the fluctuating exchange rate significantly affects the prices of these essential inputs,” he stated.

Further complicating the economic landscape for breadmakers in Nigeria is the ongoing conflict between Ukraine and Russia, both of which are significant wheat suppliers to Nigeria.

The war has disrupted wheat supplies, thereby exacerbating the challenges faced by bread producers in managing costs and maintaining supply.