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 3rd 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 N1390 and sell at N1410 on Friday 3rd 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 | N1390 |
| Selling Rate | N1410 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1441 |
| Selling Rate | N1442 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
The National President of the Association of Bureau De Change Operators of Nigeria, ABCON, Aminu Gwadabe, discussed the recent Naira depreciation and solutions for stability.
He attributed the depreciation to various factors, including demand pressure and speculative behaviour.
Despite recent Central Bank of Nigeria (CBN) interventions, liquidity shortages persisted, impacting the retail market.
In an interview with DAILY POST, Gwadabe emphasised the importance of collaboration between the CBN and BDCs to achieve stability.
He addressed misconceptions about BDCs’ role in currency fluctuations and highlighted recent CBN policies to discourage illegal practices.
Gwadabe commended Cardoso’s leadership at the CBN and proposed short-term solutions, such as citizen amnesty, and long-term strategies, including diversification of foreign earnings.