Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 21st March 2024

Current black market dollar to naira exchange rate (Aboki dollar rate): On Wednesday, March 20, 2024, at the Lagos Parallel Market (Black Market), players purchase a dollar for N1500 and sell it for N1520, based on sources at the Bureau De Change (BDC).

Please be aware that the Central Bank of Nigeria (CBN) has instructed people who wish to trade foreign exchange to contact their banks and does not recognize the parallel market, also known as the black market.

US dollars to Naira Current Black Market Rate: USD to NGN (Dollar to Naira)Current Black Market Exchange Rate: N1500 Buying Rate

Selling Price of N1520
US dollars to Naira Current CBN Rate: USD to NGN (Dollar to Naira)CBN Rate: Buying Rate: 1561; Selling Rate: 1562 Today

Nigeria Is Expecting A 32.77% Inflation Rate Amid Increasing Costs of Food
According to forecasts from Cordros Capital Research, Nigeria’s inflation rate is expected to soar to 32.77 percent this month due to rising food prices and harvest depletion.

The company projects a 3.29 percent monthly increase in food inflation, highlighting the ongoing pressure on prices in the country’s food industry.

The nation saw a notable increase in inflation in February, with the headline rate rising from 29.9 percent in January to 31.7 percent year over year, an increase of 1.80 percentage points.

Reduced food supply, continuous currency devaluation, and skyrocketing energy prices have all been blamed for this inflation spike, which has been made worse by unfavorable base effects from the prior year.