Via Naija News:
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 25th May, 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 N755 and sell at N760 on Thursday 25th May 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|
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
CBN MPC Raises Interest Rate To 18.5%
Central Bank of Nigeria (CBN) has increased its monetary policy interest rates to 18.5 per cent.
Naija News understands that the decision was taken following a meeting by the Monetary Policy Committee (MPC) of the apex bank on Wednesday, May 24.
The MPC voted to increase the benchmark interest rate by 50 basis points to 18 per cent.
While reading the communique of the third MPC meeting of the year on Wednesday (today), CBN Governor, Godwin Emefiele, said the committee voted to keep the asymmetric corridor at +100 and -700 basis points around the MPR.
Justifying the rising inflation rate, the MPC blamed the high energy cost and challenges around the supply chain, among others, which are beyond the reach of the CBN.