Black Market Dollar To Naira Exchange Rate Today 31st May 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 30th May, 2022 below. You can swap your dollar to Naira at these rates.

How much is dollar to naira today in 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 N580 and sell at N610 on Monday, 30th May, 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
580

Selling Rate
610

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

Petrol Importation In Dollars Will Further Frustrate Naira – IPMAN

Petroleum marketers have lamented Nigeria’s continuos importation of petroleum using the US Dollars.

The National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, in a recent interview, observed that the use of the US dollars for transactions in the sector is frustrating and will further useless the value of the Nigerian currency (Naira).

Chinedu noted that Nigeria has continued to depend heavily on the importation of petroleum products due to the fact that the refineries are not yet working despite several promises by government that the plants will start production.

“The value of the naira is depreciating daily, so what do you expect? Nigeria will continue to subsidize petroleum products and that is static at the moment and based on this, our naira will continue to be devalued, because so much dollars are just being deployed in pursuing products,” Chinedu noted.

This article was originally published on Nigeria News

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