Black Market Dollar To Naira Exchange Rate Today 28 April 2022

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 N586 on Wednesday, April 27th 2022, 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.

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

Economic Crisis Worsens As Forex Inflows Fall By $9.58bn

The latest report by the Central Bank of Nigeria and autonomous sources disclosed that foreign exchange inflows into the economy dropped in the fourth quarter of 2021.

The decline in the economy is a sign of a worsening crisis for a forex-strapped economy.

The CBN in its quarterly report on “Foreign Exchange Flows through the Economy” noted that the FX inflows fell by 31.7 per cent.

It stated, “Foreign exchange inflow into the economy fell by 31.7 per cent to $20.62bn, from $30.2bn in the preceding period. The development was driven by the 45.5 per cent and 14.4 per cent lower inflow through the CBN and the autonomous sources, respectively.

“Foreign exchange inflow through the Bank at $9.18bn fell below the $16.83bn in the preceding quarter as both oil and non-oil receipts declined, as a result of lower receipts from interest on reserves and interbank swaps.”