What is the black market exchange rate for the US dollar to the Nigerian naira (Aboki fx)? The black market Dollar to Naira exchange rate for March 28th is shown below. With these prices, you may exchange your $ into Naira.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):
See How Much Dollar Exchange To Naira Today 9 December 2021
According to Bureau De Change sources, the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) participants is N740 to N745 on Tuesday 28th March 2023. (BDC).
Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), and has advised individuals interested in Forex to contact their respective banks.
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N740, Selling Rate N745
Please keep in mind that the rates at which you buy or sell FX may differ from those shown in this article due to price fluctuations.
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In a related article, the Central Bank of Nigeria (CBN) announced that the Federal Government’s (FG) borrowing rate from the bank increased by 93.21 percent between January 2022 and January 2023.
According to data acquired from the apex bank, overall government credit increased from N24.66 trillion in December 2022 to N28.43 trillion at the end of February 2023.
The CBN also stated in its ‘Money and credit statistics’ report that credit increased from N14.9 trillion at the end of January 2022 to N26.65 trillion in the same period of 2023.
In the report, Aliyu Sanusi, a member of the Monetary Policy Committee (MPC), stated that tightening rates became required in order to manage the consequences of 2023 election-related spending and the liquidity linked with the anticipated government borrowing in 2023.
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He also stated that net claims on government increased by 78.15 percent (y-t-d) in December 2022, which was led by FGN borrowing from the central bank (93.21 percent), commercial banks (44.26 percent), and non-interest banks (79.13 per cent).
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