Black Market Dollar To Naira Exchange Rate Today 18th October 2022

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 17th October, 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 N742 on Monday 17th October 2022, 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 730
Selling Rate 742

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

Foreign Exchange: FG Moves To Ease Manufacturer’s Activities Through CBN

The Federal Government is considering a subtle approach to ease the activities of exporting manufacturers in Nigeria by creating a foreign exchange window. Naija News understands that the government was considering the plea by the manufacturers asking for maximum support for the sector by allowing operators to access forex through a special window to be created by the Central Bank of Nigeria. The manufacturers had expressed optimism that if exploited, the initiative will put an end to a situation where operators go to the parallel market to source forex. The manufacturers contended that other countries like South Africa were already embracing such proposals as a means of encouraging manufacturing activities. Speaking, however, on Thursday during the Manufacturers Association of Nigeria Export Promotion Group’s Annual General Conference in Lagos, the Minister of Trade and Investment, Niyi Adebayo, said his ministry would initiate steps towards helping exporting manufacturers alleviate the impact of the current forex crisis. Adebayo said: “MANEG is a formidable group. Write to me. I will see how I can use that as a reference to engage the CBN. As you know, the CBN is a monster of its own. “I like the idea that you came up with, having a different window for manufacturers. The president just set up an economic team, and we have been meeting. Write to me, and we will see what we can do.”

This article was originally published on Naija News


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