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 27th March, 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 N1310 and sell at N1330 on Wednesday 27th March 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 | N1310 |
| Selling Rate | N1330 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | 1415 |
| Selling Rate | 1416 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
CBN Increases Interest Rate To 24.75%
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate, which benchmarks interest rates, from 22.75 percent to 24.75 percent.
The CBN Governor, Olayemi Cardoso, disclosed this on Tuesday at the 294th meeting of the Monetary Policy Committee (MPC) press briefing in Abuja.
The MPR is the baseline interest rate in an economy, every other interest rate used within the economy is built on it.
The apex bank boss said the move was to ensure that the country’s rising inflation rate, which stood at 31.70 per cent in February, was moderated.
Cardoso stated that the MPC raised the interest rate by 200 basis points as efforts to tackle rising inflation.
He said: “The committee voted as follows: Raise the MPR by 400bps to 24.75 from 22.75 per cent. Increase the asymmetric corridor to +100bps/-300 basic points.
“Retain the Cash Reserve Ratio of Deposit Money Banks at 45 per cent and adjust the CRR of Merchant banks from 10 per cent to 14 per cent.”
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