Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 29th February 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 February, 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 N1440 and sell at N1450 on Wednesday 28th February 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	N1440
Selling Rate	N1450

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	CBN Rate Today
Buying Rate	1629
Selling Rate	1630

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

CBN Raises Interest Rate To 22.75%

The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by four hundred basis points to 22.75 per cent from 18.75 per cent.

The apex bank Governor, Yemi Cardoso. announced this after the first Monetary Policy Committee (MPC) meeting for the year in Abuja on Tuesday.

Cardoso also said the MPC also raised the Cash Reserve Ratio (CRR) to forty-five per cent while the liquidity ratio was left unchanged at thirty per cent.

He said the move was in a bit to tame the stubborn inflation that had not responded much to the previous marginal increase.

In 2023, Nigeria’s MPC adopted a distinct approach, steadily increasing the MPR across four consecutive meetings, ultimately reaching a substantial 18.75 percent by the end of the year.