Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 11th April 2024

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 11th April 2024

What is the Dollar to Naira Exchange rate at the black market, also known as the parallel market (Aboki fx)? Here’s the black market Dollar to Naira exchange rate for April 10th:…..READ ALSO Black Market Dollar To Naira Exchange Rate Update On April 10th, 2024 

• Buying Rate: N1170
• Selling Rate: N1180

Please be aware that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), and it has directed individuals who want to engage in Forex to approach their respective banks.

It’s essential to note that the rates for buying or selling forex may differ from those captured in this article due to varying prices.

The World Bank has forecasted promising growth rates for African economies, anticipating an increase from 2.6 percent in 2023 to 3.4 percent in 2024, further rising to 3.8 percent by 2025. This positive outlook, outlined in the bank’s latest Africa’s Pulse Report, attributes the expected rebound primarily to a rise in private consumption alongside a decrease in inflation across Sub-Saharan Africa.

However, the report cautions that the recovery path faces uncertainties due to various external and internal challenges, including the unpredictability of the global economic climate, increasing debt service obligations, frequent natural disasters, and escalating conflicts and violence across the region.

While the median inflation rate is projected to decrease from 7.1 to 5.1 percent in 2024, it will remain significantly higher than pre-pandemic levels. Moreover, the report highlights that over half of African governments are grappling with external liquidity problems and unsustainable debt, indicating that although growth rates are improving, they may not substantially impact poverty reduction.

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