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Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 7th April 2024
What is the dollar-to-naira exchange rate at the black market, also known as the parallel market (Aboki fx)?
See below for the illicit market’s April 6th dollar to naira exchange rate. 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 in the black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1245 and sell at N1250 on Saturday, April 6, 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 | N1245 |
| Selling Rate | N1250 |
Dollar-to-Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1250 |
| Selling Rate | N1251 |
Please note that the rates at which you buy or sell forex may be different from what is captured in this article because prices vary.
The Nigerian Naira experienced a notable appreciation, reaching N1,245 per dollar in the parallel market on Friday, surpassing the official and Bureau De Change’s (BDC) segments’ rates.
This development comes amid ongoing discussions between the Association of the Bureau of Change Operators of Nigeria (ABCON) and the Central Bank of Nigeria (CBN) regarding foreign exchange (FX) rate adjustments.
In the official FX market, the dollar was valued at N1,255.07 on Thursday, with the BDC segment quoting it at approximately N1,269/$1.
Contrary to online media reports suggesting a CBN rate adjustment for BDCs to N1,190 per dollar, ABCON’s national president, Aminu Gwadabe, clarified that no new changes have been implemented by the CBN.
The naira’s strength in the parallel market, often referred to as the black market, signifies a 1.20 percent increase compared to Thursday’s exchange rate of N1,260 per dollar.
This performance marks a significant recovery, with the naira appreciating by 46.58 percent since February 20, 2024, against the dollar in this market.
