Stay informed about the latest Dollar to Naira exchange rates at the black market, also known as the parallel market or Aboki FX. Check the rates for December 18th below and be aware of the current dynamics for swapping your dollars to Naira.
Current Dollar to Naira Exchange Rate (Black Market – Aboki Dollar Rate)
As of December 17, 2023, the exchange rates in the Lagos Parallel Market (Black Market) indicate that players are buying a dollar for N1230 and selling at N1235, according to sources at Bureau De Change (BDC).
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market). The CBN directs individuals engaging in Forex activities to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
- Buying Rate: N1230
- Selling Rate: N1235
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN)
CBN Rate Today
- Buying Rate: 861
- Selling Rate: 862
Please be aware that the rates for buying or selling forex may differ from those mentioned in this article due to market fluctuations. Prices are subject to change.
Nigeria, Other Low and Middle-Income Countries Paid Nearly $444 Billion to Service Debt in 2022 – World Bank Reveals
A recent World Bank report has disclosed that Nigeria and other low and middle-income countries collectively paid a staggering $443.5 billion to service their external public and publicly guaranteed debt in 2022.
Released on Friday, the report warns about the perils confronting low and middle-income nations, emphasizing that the cost of debt servicing on public and publicly guaranteed debt is anticipated to grow by 10% for all developing nations in 2023 and 2024.
The report states, “International Debt Report 2023 sounds an alarm about the danger confronting low- and middle-income countries—particularly the poorest. In 2022, the latest year for which data are available, low- and middle-income countries paid a record US$443.5 billion to service their external public and publicly guaranteed debt. In a time of pinched government budgets, these payments diverted spending away from health, education, and other critical needs.
“Debt servicing costs on public and publicly guaranteed debt are projected to grow by 10 percent for all developing countries over the 2023–24 period—and by nearly 40 percent for low-income countries. Countries eligible to borrow from IDA are likely to face a rough ride in the coming years: interest payments on their total external debt stock have quadrupled since 2012, to an all-time high of US$23.6 billion.”
