Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 27th April 2024
What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for 26th April, below. You can swap your dollar for Naira at these rates.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1380 and sell at N1400 on Friday 26th April 2024, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Buying Rate
N1380
Selling Rate
N1400
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN)
CBN Rate Today
Buying Rate
N1164
Selling Rate
N1165
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Naira Slides To N1,450 Per Dollar In Parallel Market
The Nigerian naira took a steep dive on Thursday afternoon, hitting N1,450 per dollar in the parallel market, marking an 8.28% decline or a N120 difference from the earlier rate of N1,330 reported yesterday morning.
Data sourced from currency traders confirmed this downward trend, indicating the currency’s ongoing volatility.
According to Bureau De Change (BDC) operators, the purchase rate stood at N1,350, with an approximate selling rate of N1,450, providing traders with a N100 profit margin. This fluctuation in the parallel market has raised concerns among economic stakeholders, prompting closer scrutiny of the factors driving this sharp depreciation.
The Central Bank of Nigeria (CBN) has been proactive in addressing foreign exchange challenges, notably by increasing dollar supplies through BDCs. This strategic move aims to alleviate pressure on the foreign exchange market and curb imported inflation, which has been a persistent concern for policymakers.
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