By Daniel Edu
Curious about the Dollar to Naira exchange rate on the black market, also known as the parallel market (Aboki fx)? Take a look at the black market Dollar to Naira exchange rate for August 15th below. You can trade your dollar for Naira at these rates.
Dollar to Naira Exchange Rate Today, Black Market (Aboki Dollar Rate):
At the Lagos Parallel Market (Black Market), the exchange rate for a dollar to Naira stood at N940 for buying and N945 for selling on Tuesday, August 15th, 2023, based on information from Bureau De Change (BDC) sources.
Please be aware that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has advised individuals seeking to engage in Forex transactions to approach their respective banks.
Dollar to Naira Black Market Rate Today:
USD to NGN Exchange Rate on the Black Market
Buying Rate: N940
Selling Rate: N945
Keep in mind that the rates you use to buy or sell forex may vary from those presented in this article due to market fluctuations.
Forex Crisis: Nigerians Prepare for Potential Price Changes as Fuel Costs May Rise to N720/litre
Nigerians are being warned to brace themselves for a potential new pricing regime for Premium Motor Spirit, commonly known as petrol, in the coming weeks. This forecast is a result of the ongoing forex crisis, with the Naira trading at over 945/dollar on the parallel market as of Friday.
Oil marketers have revealed that if the dollar’s value continues to hover between N910 and N950 on the parallel market, petrol prices might increase to a range of N680/litre to N720/litre in the near future. Marketers have highlighted that the CBN Importers and Exporters’ official window for foreign exchange, which offers a lower exchange rate of approximately $740/litre, is currently facing liquidity issues, hindering the provision of the $25 million to $30 million required for PMS importation by dealers.
