Dollar To Naira Black Market Exchange: July 27, 2022.

Dollar To Naira Black Market Exchange July 27, 2022.

In this post, we are going to see the Dollar to Naira Exchange rate today Wednesday, July 27, 2022, at the black market which we also know as the parallel market (Aboki fx).

Dollar to naira black market exchange rate today, Wednesday, July 27, 2022. (Aboki dollar fx)

In the table below is the exchange rate for dollar to naira in the Nigeria black market for today Wednesday, July 27, 2022, according to sources at Bureau De Change (BDC).

Buying rateSelling rate
N600 naira per dollar.N670 naira per dollar.

Please kindly take note that the Central Bank of Nigeria (CBN) does not recognize the black market, also known as the parallel market.

Because of this, it has directed individuals who want to change their currencies to approach their respective banks.

Below is the bank’s official exchange rate for today, Wednesday, July 27, 2022.

Dollar to naira official exchange rate today, Wednesday, July 27, 2022

The official exchange of dollar to naira for today, Wednesday, July 27, 2022, is as follows:

According to the data given by the FMDQ, where Naira is officially traded, the exchange rate between the naira and the US dollar today, Wednesday, July 27, 2022, opens at 423.46 per dollar after it closed at 422.27  per dollar on Monday, July 25, 2022.

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Nigerians Face Tougher Times as revenue Falls By N1.89tn

The economic and energy experts have predicted tougher times for Nigerians; this is because the Federal Government is making plans to spend the sum of N6.7tn on fuel subsidies next year. And a major shortfall in government oil revenue in 2022.

The four-month fiscal report of the economy was released by the Minister of Finance, Zainab Ahmed, on Thursday, during a public consultation on the 2023-2025 Medium Term Expenditure Framework/FSP.

According to Ahmed; “Crude oil production challenges and PMS subsidy deductions by NNPC; constitute a significant threat to the achievement of our revenue growth targets. As we can see in in the 2022 Performance up to April.

“Bold, decisive, and urgent action urgently requires us to address revenue underperformance and expenditure efficiency at national & sub-national levels.”

Ahmed also maintain that the subsidy projection was based on business-as-usual or reform scenarios. He also notes that the first scenario assume that subsidy would be retain and fully provided for.

And the minister speaking on the second scenario; assume that subsidy will remain up till mid-2023; base on the 18-month extension earlier announce. But they will spend only N3.36 trillion.

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