Black Market Dollar To Naira Exchange Rate To 5th May 2023

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 4th May, 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 N740 on Thursday 4th May 2023, 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

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

Nigeria Economy In For Tougher Times As Foreign Exchange Reserves Dips

There are strong indication that the nation’s economy might be in for tougher times ahead.

This is as the country’s foreign exchange reserves have dipped by $1.82 billion over the past four months.

Naija News gathered that official data and reports reviewed indicates that the forex reserves had suffered consecutive declines since the beginning of this year.

It was learnt that the forex reserves dropped by $47.83 million last week to close the four-month period at $35.36 billion as against $37.08 billion recorded at the close of 2022.

The April 2023 closing position represented the lowest point in recent months.

The situation has however created fears of harder times for Nigerians as economic analysts have forecasted that the downward trend might continue for some time.