Connect with us

Dollar to Naira Exchange Rates

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 24th April 2024

Published

on

at

Dollar to naira exchange rate today

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 23rd April, 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 N1260 and sell at N1275 on Tuesday 23rd April 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.

Advertisement

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N1260
Selling Rate N1275

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1251
Selling Rate N1252

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

Naira Best Performing Currency Globally Amid FX Reforms – Cardoso

The Central Bank Governor, Yemi Cardoso, proudly announced that the Naira has achieved the prestigious status of being the best performing currency worldwide as of April 2024.

This significant milestone follows comprehensive foreign exchange market reforms, buoyed by optimistic sentiments from major international investment entities.

Speaking during a press briefing at the World Bank/IMF conference in Washington DC, Cardoso highlighted the remarkable turnaround in the Naira’s fortunes. Just a month prior, in March, the Naira had plummeted to its lowest levels, exchanging at N1,600/$1 on the official market and N1800/$1 on the parallel market, marking a period of uncertainty and economic strain.

Advertisement

However, April brought a meteoric rise for the Naira, witnessing an astonishing 45% gain fueled by a series of strategic forex and monetary policies. Governor Cardoso emphasized that this surge in value has been accompanied by a resurgence in the FX market’s activities, with turnover levels soaring to heights unseen in over seven years. This liquidity infusion has instilled confidence among investors, businesses, and partners, fostering smoother transactions within Nigeria’s FX markets.

George Oshogwe Ogbolu is a Digital Media Strategist | Content Writer | Journalist | New Media Influencer | Proofreader and Editor at Naija News.