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Parallel Market Dollar To Naira Exchange Rate Today 19th October 2022

How much is a dollar to naira today in the Parallel Market Dollar?

Dollar to naira exchange rate today parallel market (Aboki dollar rate):

he exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N730 and sell at N742 on Monday 19th October 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.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Buying Rate730
Selling Rate742

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

The Federal Government is considering a subtle approach to ease the activities of exporting manufacturers in Nigeria by creating a foreign exchange window.

Naija News understands that the government was considering the plea by the manufacturers asking for maximum support for the sector by allowing operators to access forex through a special window to be created by the Central Bank of Nigeria.

The manufacturers had expressed optimism that if exploited, the initiative will put an end to a situation where operators go to the parallel market to source forex. The manufacturers contended that other countries like South Africa were already embracing such proposals as a means of encouraging manufacturing activities.

Speaking, however, on Thursday during the Manufacturers Association of Nigeria Export Promotion Group’s Annual General Conference in Lagos, the Minister of Trade and Investment, Niyi Adebayo, said his ministry would initiate steps towards helping exporting manufacturers alleviate the impact of the current forex crisis.

Adebayo said: “MANEG is a formidable group. Write to me. I will see how I can use that as a reference to engaging the CBN. As you know, the CBN is a monster of its own.

“I like the idea that you came up with, having a different window for manufacturers. The president just set up an economic team, and we have been meeting. Write to me, and we will see what we can do.”

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