Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 12th May 2024

Dollar to naira exchange rate today

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 11th May, 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 N1455 and sell at N1470 on Saturday 11th May 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 N1455
Selling Rate N1470

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1439
Selling Rate N1440

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

Again, Naira Slumps Against US Dollar At Both Parallel And Official Markets

Nigerian local currency, Naira, has witnessed a continued depreciation in the official market after closing the market on Friday, exchanging against the United States Dollar at ₦1,466.31.

According to the Nation Autonomous Foreign Exchange Market (NAFEM), the exchange rate between the dollar and naira saw an increase of ₦40 from Thursday to Friday, closing at ₦1,426 to a dollar.

Recent reports indicate that the naira’s previous gains against the dollar have been eroded. The exchange rate is now above ₦1000, causing concern for businesses and the government.

Following a series of reforms and interventions by the Central Bank of Nigeria (CBN) aimed at stabilizing the exchange rate market, the apex bank also increased the supply of dollars to Bureau De Change (BDC) operators to enhance liquidity in the market.

Yesterday, the dollar was traded at ₦1,466.31 at the official market, but it experienced further depreciation at the parallel market, where it was exchanged for ₦1,510.

Initially priced at ₦1,450 on Friday morning, the dollar closed the day at ₦1,510 at the street market, commonly known as the black market.

The post Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 12th May 2024 appeared first on Naija News.

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