Black Market Dollar To Naira Exchange Rate Today 5th November 2023

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 4th November, 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 N1170 and sell at N1180 on Saturday 4th November 2023, 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 CBN Rate Today

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

CBN Initiates “Clearing” Of Forex Backlogs – Recent Updates

Recent reports have revealed that the Central Bank of Nigeria (CBN) is clearing the forex backlogs that banks and airlines have been facing.

According to sources familiar with the matter, banks claim that the central bank is actively addressing these backlogs.

Airlines are also witnessing the clearance of their forex backlogs, but the exact source of the supply used to clear these backlogs remains uncertain. It’s worth noting that the government previously announced plans to address this issue by injecting $10 billion into the system.

Stanbic IBTC’s report has also supported the information about the clearing of forex backlogs, stating, “Yesterday, the apex bank began clearing the backlog of outstanding Retail SMIS obligations. The total amount cleared is yet to be ascertained.”

The post Black Market Dollar To Naira Exchange Rate Today 5th November 2023 appeared first on Naija News.