Dollar To Naira Black Market Rate As At 12th May, 2022




As it is, the exchange is gradually increasing.

How Much is Dollar to Naira and the official Exchange Rate today, 12th May 2022?

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).

READ ALSO: Dollar To Naira Black Market Rate As At 10th May 2022

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.




The dollar to naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank.

These rates are almost always cheaper than those available on the black/parallel market.

Dollar to Naira Black Market Rate Today, 12th May 2022

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate 597
Buying Rate 584







Queen Amawohttps://queenamawo.ng
I am Queen Amawo, an Engineer, Enterpreneur, Blogger, and a Web developer, i love writing quality content to readers and expose them to happenings around the world, I can not do this all by myself, help and encourage me, I will forever be grateful. Thank you for the visit

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