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 30th June, 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 N1503 and sell at N1510 on Sunday 30th June 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 |
N1503 |
| Selling Rate |
N1510 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) |
CBN Rate Today |
| Buying Rate |
N1469 |
| Selling Rate |
N1470 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
The Naira depreciated by over 40 percent in the first half of 2024 in the foreign exchange market.
FMDQ data showed that the Naira weakened to ₦1505.30 per dollar on Friday, down from between ₦896.6 and ₦907.11 where it closed on December 29, 2023.
The figures indicate that the Naira has faced continued instability against other currencies in recent months, following a period of appreciation that ended in mid-April 2024.
The Naira peaked at ₦1,665.50 in February 2024 and reached its lowest point in April at ₦1,140 and ₦1,230.61 in the official and parallel foreign exchange markets, respectively.
Naijaonpoint learnt that the depreciation is a result of several policies implemented by the Central Bank of Nigeria (CBN).
These policies include unifying the FX market, regulating International Money Transfer Operators, intervening with Bureau De Change operators, imposing regulations on excess FX to banks, and recently withdrawing the Price Verification System Portal for importers.
Despite these policy reforms, the Naira has continued to fluctuate against the Dollar and other currencies in the foreign exchange market.
