Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 29th September 2024

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 28th September, 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 N1695 and sell at N1700 on Saturday 28th September 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 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 Sells Dollars To BDC Operators At ₦1,590/$

The Central Bank of Nigeria (CBN) has reviewed and approved the sale of foreign exchange (FX) to qualified bureau de change (BDC) operators at a rate of ₦1,590 per dollar.

Naija News understands that the latest action is aimed at addressing the demand for invisible transactions.

In a circular issued yesterday, titled ‘Sales of Foreign Exchange to BDCs to Meet Retail Market Demand for Eligible Invisible Transactions,’ the CBN announced that it will provide $20,000 at the rate of ₦1,590 per dollar to each BDC.

The announcement was signed by the acting director of the trade and exchange department, W.J. Kanya.

The apex bank stated: “This is to inform the Bureau De Change (BDC) Operators and the general public that the CBN will be providing additional liquidity to this segment of the foreign exchange market.

“To this end, CBN has approved the sale of US$20,000.00 to each eligible BDC at the rate of N1,590/5. This is to meet the demand for invisible transactions.

“All BDCs are allowed to sell to eligible end-users at a margin of NOT MORE THAN one percent (1%) above the purchase rate from CBN

“Eligible BDCs interested in this transaction are directed to make the Naira payment to the CBN Deposit Account Numbers with them.”