Black Market Dollar To Naira Exchange Rate Today 15th October 2022
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 14th 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 N737 and sell at N742 on Friday 14th 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
737
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.
IMF Warns CBN Over Hike In Interest Rates
The International Monetary Fund has warned that the continuously rising benchmark interest rates in Nigeria and other emerging economies are risks to financial stability.
Naija News understands that this was made known in a new report titled “Interest Rate Increases Volatile Markets Signal Rising Financial Stability Risks”.
The global lender noted that central banks who are faced with persistently high inflation will have to accelerate monetary policy tightening as a means to prevent pressures from becoming entrenched.
It pointed out that the major challenges facing the financial system include inflation at multi-decade highs, continuing deterioration of the economic outlooks in many regions, and persistent geopolitical risks.
The report further disclosed that financial circumstances remain tightened as central banks continue to raise interest rates, hence the highly uncertain global environment risks financial stability.
It also pointed to the deteriorating rate and speed with which assets are currently traded at a given price due to the volatile interest rate.
This article was originally published on Naija News
