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 29th March, 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 N1240 and sell at N1280 on Friday 29th March 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 | N1240 |
| Selling Rate | N1280 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | 1303 |
| Selling Rate | 1304 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Naira Crashes To N1,309/$1 At Official Market
The Nigerian Naira has depreciated in value at the official market, with the exchange rate falling to N1,309.39 to a dollar, according to the latest data from the FMDQ trading platform.
This represents a 0.69 percent decline from the previous day’s rate of N1,300.43 against the dollar.
Despite this, trading volume showed a significant increase, with the total turnover rising to $857.78 million, more than doubling from Wednesday’s $416.10 million.
In the Investor’s and Exporters’ (I&E) window, the Naira experienced fluctuations, trading between N1,392 and N1,250 against the dollar.
This volatility in the forex market comes amidst various economic adjustments and policy shifts by the Central Bank of Nigeria (CBN).
Adding to the financial landscape changes, the CBN has recently announced new capital requirements for banks, significantly raising the minimum capital base for commercial banks with international authorization to N500 billion.
This move is part of the apex bank’s broader strategy to fortify the Nigerian banking sector, following its call for banks to hasten the recapitalization process to bolster the financial system.
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