Dollar To Naira Black Market Exchange Rates Today, 22 July 2022

Dollar To Naira Black Market Exchange Rates Today, 22 July 2022 can be accessed below.

What is the exchange rate for Dollar and Naira in the parallel market, commonly known as the black market (Aboki fx)?

See below for the 22 July 2022 black market Dollar to Naira conversion rate. At current exchange rates, you may convert dollars to naira.

How Much is Dollar to Naira and the official Exchange Rate today, 22nd July 2022?

Please be aware that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has advised anybody interested in forex to first contact their local banks.

The black market (parallel) exchange rate is always different from the CBN rate. The Nigerian economy is greatly impacted by the exchange rate between the US dollar and the Nigerian naira.

Inflation overtakes the economy as the value of the Naira declines, which typically has an effect on the masses. The Central Bank has called for Nigerians to work toward this objective, such as expanding exports and has stated that the country’s economy needs a substantial turnaround.

Dollar prices on the black market are usually higher than those set by the Central Bank of Nigeria (CBN). The rate at which you can buy or sell dollars for naira on the CBN’s website, cbn.gov.ng, is known as the exchange rate.

When using your Naira MasterCard or Debit card from a Nigerian bank to make a purchase on a foreign website, you use the dollar to naira bank rate. Almost always, these prices are less expensive than those on the black/parallel market.

Factors Influencing Foreign Exchange Rates

• Conditions of Trade
• Speculators
• Government Debt
• Interest Rates
• Inflation Rates