Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 7th July 2024

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 6th July, 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 N1525 and sell at N1534 on Saturday 6th July 2024, 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 RateN1525
Selling RateN1534

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)CBN Rate Today
Buying RateN1516
Selling RateN1517

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

Economists have advised the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, to listen to Aliko Dangote’s call against 30 percent interest rate policy.

Chairman of Tekedia Capital, Professor Ndubuisi Ekekwe, said the Chairman of Dangote Group’s statement showed the African richest man understood the interest rate policy was wrong.

Aliko Dangote, the largest private sector employer, while commenting on CBN’s 30 percent interest rate, said no job would be created. He said the interest rate would further stifle Nigeria’s economy and provide jobs.

On Tuesday, at a three-day National Manufacturing Policy Summit organized by the Manufacturers Association of Nigeria (MAN), at the Banquet Hall of the State House, in Abuja, Dangote said, “Right now, at 30%, there is no way anybody can create jobs because we are actually stifling growth. So interest rate can remain at 30% but no growth will happen unless that interest rate comes down.”

Professor Ekekwe, on Wednesday, said Dangote’s position aligned with best economic policy. He said the CBN cannot address inflation by raising interest rates. He added that CBN’s policy would suffocate manufacturers who need loans to produce.

Ekekwe said Nigeria needs to produce more to address its inflation challenge.

He argued that such production would not be possible with high interest rate.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button