Black Market Dollar To Naira Exchange Rate Today 4th January 2023

Dollar to naira exchange rate today

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 3rd January, 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 N730 and sell at N740 on Tuesday 3rd January 2023, 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 N730
Selling Rate N740

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

Data from the National Bureau of Statistics (NBS) has shown that food and beverage imports for households rose by 71.12 percent between the third quarter of 2018 and the corresponding quarter of 2022.

It was learned that the rise in the percentage of food and beverage imports for households occurred despite the foreign exchange crisis in the country.

According to data from the Q3 2022 Foreign Trade Statistics report, the NBS said the food and beverage imports were classified into primary and processed foods for households.

In Q3 2018, the primary food and beverage imports were put at N84.84bn while that of processed foods were about N77.41bn, making a total of N162.25bn.

By Q3 2022, the primary food and beverage imports were about N153.82bn while that of processed foods were about N123.82bn, making a total of N277.64bn.

The development came amid reports that the International Monetary Fund (IMF) recently said that the food crisis currently ravaging Nigeria and other sub-Saharan countries has been exacerbated by over-reliance on imported foods.

In a new report titled, “Africa Food Prices Are Soaring Amid High Import Reliance,” IMF said staple food prices in sub-Saharan Africa surged by an average of 23.9 percent in 2020 to 22—the most since the 2008 global financial crisis.

Add Comment

Click here to post a comment