Dollar (USD) to Naira Black Market Rate today- 17th August 2022

 Today’s Dollar to Naira Exchange rate at both the black market and the CBN official rate. How much is the Dollar to Naira exchange rate today, 15th August 2022? You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent black market or parallel market rate.

Nigerians prefer to exchange foreign currency, particularly dollars to Naira, on the black market since the conversion rate is much higher than what the bank offers.

Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has recommended individuals interested in Forex contact their respective banks before proceeding.

The parallel exchange rate (black market rate) is always different from the CBN rate. The exchange rate between the US dollar and the Nigerian Naira significantly impacts the Nigerian economy.

As the Naira falls in value, inflation takes over the economy, which usually impacts the inhabitants. The Central Bank has stated that the Nigerian economy needs a significant turnaround and has asked Nigerians to work toward this goal, such as increasing exports.

The black market rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website, cbn.gov.ng.