BREAKING: At Aboki Black Market, Naira Falls Against Dollar In New Week
In a fresh week, the Naira has lost ground versus the dollar at the Aboki underground market.
Touchaheart reports that the Nigerian national currency, Naira, has fallen again against the US dollar, trading at N587/$1 days after finishing last week at N584/$1.
The naira to usd exchanged at N587/$1 on Monday morning, March 28, 2022, according to a survey conducted by at the Bureau De Change (BDC) market in Lagos, Nigeria’s commercial city, failing to maintain the N584 position of 1 dollar to naira it closed last week Friday, March 25, 2022.
This online news portal gathered that the current exchange rate of N587/$1 on Monday, March 28, 2022, shows that the naira has lost N3 versus the US dollar since closing last week at N584/$1.
The naira to dollar and dollar to naira exchange rates on Monday revealed that the Nigerian national currency, the Naira, has fallen against the US dollar months after a steady rise that saw it gain almost N25 since it sank to its lowest level of N575 to a dollar on September 20, 2021.
Meanwhile, Touchaheart Nigeria reports that this comes months after the Central Bank of Nigeria (CBN) halted foreign exchange (forex) sales to BDC operators on July 27, 2021, and advised all people with a real need for forex to go to banks. The naira depreciated by N85 against the dollar in less than two months, from N490 to N575 per dollar on September 20.
Despite the fact that the dollar to naira exchange rate opened at 587 per $1 on the parallel market (black market), Touchaheart reports that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market). As a result, anyone in need of currency should contact their bank, with the I&E window being the sole known exchange, according to the apex bank.
TOUCHAHEART NIGERIA does not set or determine foreign exchange rates. The official NAFEX rates can be seen on the FMDQOTC’s website. Various sources, including internet media outlets, are used to get parallel market (black market) pricing. The rates at which you purchase or sell FX may differ from those described in this article.