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 23rd February, 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 N1750 and sell at N1800 on Friday 23rd February 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 | N1750 |
| Selling Rate | N1800 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | 1488 |
| Selling Rate | 1489 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Forex Crisis: Binance Responds To Unusual Currency Fluctuations
Prominent crypto trading platform, Binance, has modified its trading procedures to counteract an abnormal currency fluctuation, while also dissociating itself from the forex crisis in Nigeria.
Recall the Federal Government had reportedly blocked the major online crypto platforms to avert the continuous manipulation of the forex market and illicit movement of funds.
Naija News reports that the latest development comes after the National Security Adviser, Nuhu Ribadu, ordered a crackdown on currency speculators in the country.
It was gathered that the Nigerian Communications Commission (NCC) communicated the directive to telecommunication companies to block the crypto platforms.
Reports, yet to be confirmed, indicate that the Central Bank of Nigeria (CBN) and other governmental entities may have directed Binance to impose restrictions on Nigerian traders selling USDT.
Binance, in a statement released on Wednesday via Binance Blog, refuted the claims made in the report and reiterated the operational status of its peer-to-peer (P2P) product, albeit with adjustments.
Binance underscored its partnership with legislators and regulatory agencies to uphold transparency in cryptocurrency trading and its consequences on financial markets, clarifying that Binance does not influence foreign exchange rates.
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