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BREAKING: Naira Falls Massively At Aboki Black Market, See New Exchange Rates

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Naira has fallen massively at Aboki Black Market, see new exchange rates below.

Newsonline reports that the Nigerian official currency, the naira has fallen massively against the United States dollar exchanging at N590/$1 weeks after a steady exchange rate of N570/$1.

A survey conducted by Newsonline Nigeria financial experts at the Bureau De Change (BDC) market in Lagos, Nigeria’s commercial city, Monday morning, April 4, 2022, showed that the naira to usd exchanged at N590/$1, failing to maintain the N570 position of 1 dollar to naira it stood for weeks, months after USD to naira exchanged for N530/$1.

Naira to dollar falls massively at Aboki black market (parallel market)

The exchange rate between the naira to dollar and dollar to naira on Friday showed that the Nigerian official currency, the naira has fallen against the United States dollar months after a steady rise which saw it gain over N25 since it fell to its lowest of N575 to a dollar on September 20, 2021.

 

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Meanwhile, Newsonline Nigeria reports that this is coming months after the Central Bank of Nigeria (CBN) had on July 27, 2021, suspended foreign exchange (forex) sales to BDC operators and directed all those with a genuine need for forex to revert to banks.

Meanwhile, Newsonline Nigeria reports that the USD started this week at ₦590 in Parallel Market also known as Black Market on Monday, April 4, 2022, in Lagos Nigeria, after it opened at #587 last week Monday, March 28, 2022.

 

DisclaimerNEWSONLINE NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.

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