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 February 24. 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, February 24, 2024:
Dollars to Nairas (USD to NGN) Black Market Exchange Rate Today
- Buying Rate: N1788
- Selling Rate: N1800
Pounds to Naira black market Today.
The British Pounds to Naira exchange rate is as follows.
- Buying Rate: N2425
- Selling Rate: N2430
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).
Naira Continues Depreciation Streak, Tumbles to N1,900/$ at Parallel Market.
In the most recent development, the value of the Nigerian naira declined further, hitting N1,900 versus the US dollar on Tuesday in the parallel segment of the foreign exchange (FX) market.
This marks a 9.83 percent decline from the N1,730 recorded the previous day. Currency traders, also known as Bureau de Change (BDC) operators, quoted the buying rate at N1,850 and the selling rate at N1,900, with a profit margin of N50.
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A trader by the name of Aliyu voiced concerns, saying, “We do not understand the rate, and it will get more expensive tomorrow.”
However, at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency saw a recovery, reaching N1,551.24 per dollar on Tuesday. Compared to the N1,598.54 traded on Monday, this represents a 2.9 percent appreciation.
Data from the platform that monitors foreign exchange trading in Nigeria, the FMDQ Securities Exchange, showed that the local currency reached an intraday high of N1,701 and a low of N1,100.
In ongoing efforts to restore market stability and enhance liquidity, the Central Bank of Nigeria (CBN) and the Office of the National Security Adviser (ONSA) have joined forces. Investigating and punishing those involved in illegal activity in the FX market is the goal of their partnership. This coordinated effort involves key law enforcement agencies such as the Nigeria Police Force (NPF), the Economic and Financial Crimes Commission (EFCC), the Nigeria Customs Service (NCS), and the Nigeria Financial Intelligence Unit (NFIU).
On February 20, 2024, President Bola Tinubu announced that his administration is actively working to raise $10 billion or more. The goals are to increase liquidity, stabilise the value of the naira, and encourage economic growth.
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