Black Market Dollar To Naira Exchange Rate Today 12th January 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 11th January, 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 N1250 and sell at N1260 on Thursday 11th January 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	N1250
Selling Rate	N1260

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	CBN Rate Today
Buying Rate	892
Selling Rate	893

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

Naira Continues To Weaken Despite CBN’s Efforts

The Nigerian naira has experienced a significant devaluation of 26.36 percent against the US dollar at the foreign exchange market’s official Investor and Exporter window.

This decline follows the Central Bank of Nigeria‘s (CBN) announcement that it had cleared $2 billion from its backlog of forward contract obligations, including a disbursement of $61.64 million to foreign airlines.

The CBN’s Acting Director of Corporate Communications, Hakama Sidi Alia, stated that these payments are part of ongoing efforts to settle valid forward transactions and alleviate pressure on the exchange rate.

Alia expressed hope that this initiative would strengthen the naira and boost investor confidence in the Nigerian economy.

Despite these measures, the naira closed trading at N856.57/$ on Monday and fell to N1082.32/$ as of Wednesday, per data from the FMDQ Securities Exchange.