Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 15th March 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 14th March, 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 N1602 and sell at N1605 on Thursday 14th March 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	N1602
Selling Rate	N1605

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	CBN Rate Today
Buying Rate	1612
Selling Rate	1613

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

Naira Appreciates To ₦1,570/$ At Parallel Market

The Nigerian Naira appreciated against the US Dollar in the parallel section of the foreign exchange (FX) market on Wednesday, recording a 1.88 percent increase to ₦1,570.

This marks a significant rebound from the ₦1,600/$ rate observed on March 11, as reported by currency traders and Bureau de Change (BDC) operators in Lagos.

The BDC segment, crucial for retail transactions, saw the buying rate of the US dollar set at ₦1,550 and the selling rate at ₦1,570, generating a profit margin of N20 for traders.

Conversely, in the official FX market, the Naira experienced a depreciation of 0.78 percent, falling to ₦1,615.94/$ on Wednesday, down from ₦1,603.38/$ on March 12.

This divergence between the official and parallel market rates continues to highlight the complexities within Nigeria’s foreign exchange environment.

According to data from the FMDQ Exchange, which oversees official FX trading, the Naira’s performance varied, hitting a high of ₦1,635 and a low of ₦1,500 during the trading session.