What is the Dollar to Naira Exchange Rate at the Black Market, the Pounds to naira black market Today and the Euro To Naira today black market also known as the Parallel Market (Aboki FX)?Â
Please find below the black market exchange rate for the dollar to Naira on March 1,, 2024. These are the rates at which you can exchange your dollar for Naira.
How much is a Naira to dollar today in the black market? Dollar to Naira Exchange Rate Today in the Black Market (Aboki Dollar Rate):
Dollar to Naira Black Market Rate Today, March 1,, 2024:
Dollars to Nairas (USD to NGN) Black Market Exchange Rate Today
- Buying Rate: N1550
- Selling Rate: N1590
Pounds to Naira black market Today.
The British Pounds to Naira exchange rate is as follows.
- Buying Rate: N2690
- Selling Rate: N2700
Euro To Naira today black market
The Euro To Naira black market exchange rate today is :
- Buying Rate: N1890
- Selling Rate: N1916
While the Central Bank of Nigeria (CBN) sets the official foreign exchange rate, transactions happening outside authorized channels, like the parallel market, operate independently. It is recommended to use authorized channels like banks for foreign exchange transactions.
Also See :Â Black Market Dollar rate to Naira Exchange today 22 February 2024
Dollar to Naira CBN Rate Today:
Dollar to Naira (USD to NGN) CBN Rate Today
- Buying Rate: N1,500
- Selling Rate: N1,504
Euro to Naira CBN Rate Today:
Dollar to Naira Exchange rate Today (CBN rates)
- Buying Rate: N1,494
- Selling Rate: N1,493
Pounds to Naira Today
Pounds to NGN CBN Rate Today
- Buying Rate: N1,886
- Selling Rate: N1,887
Euro to Naira Today
Euro to Naira exchange rate Today
- Buying Rate: N1,612
- Selling Rate: N1,613
Please be advised that the rates at which you buy or sell forex may differ from those displayed in this article due to price fluctuations.
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).
Nwabali Breaks Silence On Union Saint-Gilloise Transfer Rumours
Nigeria’s External Reserves Soar to $34.51 Billion, CBN Reports.
The Central Bank of Nigeria (CBN) has reported that the nation’s gross external reserves increased significantly, reaching $34.51 billion in February 2024. This is a significant financial development. Governor Olayemi Cardoso shared this information during the 293rd Monetary Policy Committee meeting held on Tuesday.
Cardoso expounded on the favourable change, disclosing that as of February 20, the external reserves had increased from $32.23 billion at the end of January 2024 to $34.51 billion. He attributed this improvement to various factors, including reforms implemented in the foreign exchange market and a boost in oil production.
The governor stated, “Gross external reserves stood at US$34.51 billion on February 20, 2024, compared with US$32.23 billion at end-January 2024. Reforms in the foreign exchange market and increased oil production, among other factors, were the main drivers of the improvement.”
Notably, the CBN recently raised the monetary policy rate in the nation by 400 basis points to 22.75% in an effort to combat the escalating inflationary pressures in Nigeria. The National Bureau of Statistics had reported a surge in headline inflation to 29.90% in January 2024.
This surge in external reserves reflects positive economic indicators, and stakeholders will be keenly observing how these developments impact the broader economic landscape in Nigeria.
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