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Black Market Dollar To Naira Exchange Rate Today 24th May 2022

JUST IN: Naira Hits Strong Against Dollar At Parallel Market

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 23rd 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 N570 and sell at N603 on Monday, 23rd 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 570
Selling Rate 603

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

The National Bureau of Statistics, NBS, has disclosed that the Nigeria’s economy grew by 3.11%, year on year, YoY, in the first quarter of the year (Q1’22) from 0.51% recorded in the corresponding period in 2021 (Q1’21).

Naija News reports that the NBS stated this in the Nigerian Gross Domestic Product Report (Q1 2022) released this morning.

The statement reads: “Gross Domestic Product (GDP) grew by 3.11% (year-on-year) in real terms in the first quarter of 2022, showing a sustained positive growth for six consecutive quarters since the recession witnessed in 2020 when negative growth rates were recorded in quarter two and three of 2020.

“The first quarter 2022 growth rate further represents an improvement in economic performance. The observed trend since Q4 2020 is an indication of a gradual economic stability.

“The Q1 2022 growth rate was higher than the 0.51% growth rate recorded in Q1 2021 by 2.60% points and lower than 3.98% recorded in Q4 2021 by 0.88% points. Nevertheless, quarter-on-quarter, real GDP grew at -14.66% in Q1 2022 compared to Q4 2021, reflecting a lower economic activity than the preceding quarter.”

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