Today’s Dollar to Naira Black Market 9th August 2022 exchange rate and CBN Dollar to Naira exchange rate 09/08/2022. Aboki fx and the black market rate (parallel market)
Today is Tuesday, 9th August 2022, and I am sure many dealers out there are eager to know how the market looks like and how they should start their week in the in terms of buying and selling.
Currently, exchange rate of Dollar to Naira or Naira to dollar is fluctuating. Naira has faced a huge fluctuation of it’s value against dollars.
Meanwhile, the CBN has announced that the activities of the so call parallel marketers also know as black market is even making the situation worst.
So in this piece, I am going to evaluate the current Dollar and actual dollar to Naira black market and CBN exchange rate as of today, 9 August 2022.
Dollar to Naira Black Market Rate 9th August 2022
How Much is Dollar to Naira Today CBN 9th August 2022? The black market (bureau de change) dollar to Naira exchange rate as of today 9th August 2022 is N640. As of today 9/08/2022, 1 dollar at the black market sells between N640 to N650.
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According to the reports, dollar is selling between N640 to N660 in some areas in Lagos, Kano, Abuja, Port Harcourt, Uyo, Enugu, etc.
Black market exchange rate breakdown for 9/08/2022
|Dollar to Naira Rates||Black Market Exchange Rate Today 9th August 2022|
The dollar Black market in Nigeria which is also known as parallel market are known for operating on a different exchange rate (unofficial and illegal rate) which is against the CBN official rate.
Also, many Nigerians have turn to exchanging their USD and other foreign currencies through the black market dealers since their rate is much higher than the official CBN and commercial bank rates.
As a result of patronizing this unofficial dealers, the rate at which dollar exchanges to naira becomes extremely high and thereby causing Naira to be devalued.
The activities of the so called black market is 100% against the CBN policy. So before buying or selling dollar at the so call black market, it is advisable to bear in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market).
As such, patronizing them is against the law and such dealers may be called to book if caught going against the CBN instructions.
Dollar to Naira Today CBN 9th August 2022?
How Much is Dollar to Naira Today CBN 9th August 2022? The CBN official dollar to Naira exchange rate as of today 9th August 2022 is N417.
At the early hours of 9/08/2022, the CBN exchange rate portal reported that CBN buys Dollar at Four Hundred and seventeen Naira, forty seven kobo (N417.47) and sells dollar this same day at Four Hundred and eighteen Naira, forty seven kobo (418.47).
CBN Exchange Rate breakdown for 9/08/2022
|Dollar to Naira Rates||CBN Exchange Rate Today 9th August 2022|
Note: the CBN Exchange rate shown above fluctuates from time to time. For accurate and up-to-date data on the CBN dollar to Naira Exchange rate, we advise you to visit the CBN exchange rate portal via https://www.cbn.gov.ng/rates/exchratebycurrency.asp