What is the Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki fx)? Below is the black market Dollar to Naira exchange rate for August 19th. On this date, players in the Lagos Parallel Market were buying a dollar for N670 and selling it for N675, according to sources from Bureau De Change (BDC). It is important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market and has advised individuals interested in foreign exchange to approach their respective banks.
As of today, the Dollar to Naira black market exchange rate is as follows: the buying rate is N670, while the selling rate is N675. Please be aware that the rates at which you buy or sell foreign exchange may differ from those mentioned in this article, as prices can vary.
In related news, the value of transactions on the eNaira has risen to N4 billion since its launch on October 25, 2021. This information was revealed by the Governor of the Central Bank of Nigeria, Godwin Emefiele, during the finale of the 2022 eNaira hackathon in Abuja. Last December, the Controller for CBN in Enugu State, Chedozie Okonjo, reported that the apex bank had recorded over 34,000 transactions on the eNaira platform, with a total value exceeding N188 million.
Okonjo noted at the 2021 Annual Bankers Dinner and Lecture, organized by the Enugu State branch of the Chartered Institute of Bankers of Nigeria, that there have been over 583,000 consumer wallets and approximately 83,000 merchant wallet downloads, with downloads occurring in over 160 countries, according to data from Google Play Store and Apple Store. He emphasized that the adoption rate has been excellent, as evidenced by the recorded transactions amounting to over N188 million. CBN officials indicated that this represents an increase of 2,027.66 percent from December to August.
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