Black Market Dollar To Naira  Price Today/ Aboki Forex 09/29/2023

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Black Market Dollar To Naira  Price Today/ Aboki Forex 09/29/2023: Read details Below

As of the latest update on September 29, 2023, Jobmulla  bring to you  the exchange rates for the Dollar to Naira (USD  to NGN) in Nigeria:

Black Market (Parallel Market) Rates:

  • Buying Rate: ₦995
  • Selling Rate: ₦1,000

CBN Official Exchange Rate:

  • 1 USD = ₦782.076
  • 1 Dollar = ₦782.076 Nigerian Naira

Please keep in mind that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market. The rates mentioned above are the prevailing rates at the time of the update and may change within hours.

Additionally, there is information regarding the newly nominated Central Bank of Nigeria (CBN) governor, Olayemi Cardoso, who has revealed plans to address the challenges affecting the Naira in the foreign exchange markets:

  1. A Call for Stability: Cardoso emphasized the importance of a stable exchange rate for the Nigerian economy. He expressed his commitment to implementing short-term and medium-term measures to achieve this stability.

  2. Clearing FX Backlogs: One of Cardoso’s immediate priorities is to address the backlog of foreign exchange obligations, especially those involving foreign companies repatriating their earnings. This move aims to bring transparency and address pending obligations.

  3. Prioritizing Price Stability: Cardoso plans to revert to evidence-based monetary policies to bolster the Naira currency. He intends to create a transparent system accessible to everyone to attract foreign investors.

  4. Attracting Foreign Investment: Transparency and openness in monetary policies are crucial for attracting foreign investors and portfolio investors. Cardoso believes that involving relevant stakeholders in the development of these guidelines will restore confidence in the Nigerian economy.

  5. A Commitment to Integrity: Cardoso reassured the Senate and the nation that he will uphold the highest standards of integrity and avoid favoritism.

As Olayemi Cardoso takes on the role of the new CBN governor, his vision and plans for the Nigerian economy, especially in stabilizing the Naira, will be closely observed by Nigerians and the international community.