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, Euro to Naira black market, Pounds to Naira black market for April 10, 2024, 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) yesterday closed at N1235 per dollar according to data obtained from Bureau De Change (BDC) operators.Â
Dollar to Naira Black Market Rate Today.
How much is $1 in Nigeria black market today?
CBN exchange rate dollar to Naira today
The CBN exchange rate dollar to Naira today is:
The Dollar to Naira Bank rate today is also the same as the CBN official rate. The only difference is just one to two naira difference from one bank to another.
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.
The rates you buy or sell forex at Aboki exchange rate today in Lagos and other Aboki Forex rates may be different from what is captured in this article because prices vary.
Pounds to Naira Today
Pounds to NGN CBN Rate Today
- Buying Rate: N1,873
- Selling Rate: N1,877
Euro to Naira black market Today
Euro to Naira exchange rate Today
- Buying Rate: N1,612
- Selling Rate: N1,613
Meanwhile, at the Lagos Parallel Market, popularly referred to as the Black Market, the exchange rate between the US dollars and the Naira concluded at 1650 per dollar yesterday, as reported by sources in the Bureau De Change (BDC).
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Naira Appreciates to N1,230/$1 at NAFEM, N1,220 at Black Market
The Nigerian Naira has continued its impressive performance in the foreign exchange (FX) market, experiencing appreciation against the US Dollar at both the Nigerian Autonomous Foreign Exchange Market (NAFEM) and the black market.
NAFEM Performance
At the NAFEM, the Naira appreciated by 1.3 per cent or N20.44 against the US Dollar, reaching a trading rate of N1,230.61/$1. This improvement was notable compared to the previous trading session’s closing value of N1,251.05/$1.
Additionally, the Naira strengthened against the Pound Sterling and the Euro in the official market. It gained N11.62 against the Pound Sterling to trade at N1,574.17/£1, and it strengthened by N10.16 against the Euro to close at N1,350.43/€1.
Despite a decline in forex supply to the spot market, with turnover decreasing by 49.4 per cent or $122.72 million to $125.55 million from $248.27 million, the local currency recorded these gains during the opening session of the week.
Black Market Performance
In the parallel market, the Naira also appreciated against the US Dollar, rising by N20 to trade at N1,220/$1 compared to the previous session’s value of N1,240/$1. This increase followed the Central Bank of Nigeria’s injection of fresh FX into the market through Bureau de Change (BDC) outlets.
CBN’s Policy Moves
Recent policy interventions by the Central Bank of Nigeria have continued to yield positive outcomes, with the market showing signs of stabilization. The CBN has assured that more FX-focused policies aimed at facilitating price discovery will be implemented.
The apex bank recently offered to sell Dollars to 1,588 accredited BDC operators at a rate of N1,101/$1, as part of ongoing measures to stabilize the local currency. Additionally, the CBN banned the use of foreign currency-denominated collaterals for Naira loans, except for Eurobonds issued by the Federal Government or guarantees of foreign banks.
Cryptocurrency Market Performance
In the cryptocurrency market, Ethereum (ETH) reached its highest level since mid-March, surging by 7.7 per cent to close at $3,694.20. Other cryptocurrencies also experienced mixed performances, with Cardano (ADA), Ripple (XRP), Bitcoin (BTC), Litecoin (LTC), and Solana (SOL) registering gains, while Dogecoin (DOGE) and Binance Coin (BNB) depreciated.
US Dollar Tether (USDT) and US Dollar Coin (USDC) traded flat at $1.00 apiece.
The fluctuating trends in the cryptocurrency market complement the stable performance of the Naira in the FX market, reflecting the diverse dynamics influencing the financial landscape.
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