Dollar to Naira Exchange Rate Today: Black Market Rates (Aboki Dollar Rate)
As of Sunday, November 10, 2024, the exchange rate for the U.S. dollar (USD) to Nigerian Naira (NGN) in the Lagos Parallel Market (commonly known as the black market) stands at N1725 for buying and N1735 for selling. These rates, reported by sources within the Bureau De Change (BDC) sector, highlight the significant difference between the parallel market and the official rates set by the Central Bank of Nigeria (CBN).
It is important to note that the Central Bank of Nigeria does not officially recognize the parallel market as a legitimate platform for currency exchange. The CBN has consistently encouraged individuals who wish to buy or sell foreign exchange to do so through licensed banks and other authorized financial institutions.
Current Dollar to Naira Black Market Exchange Rate:
- Buying Rate: N1725
- Selling Rate: N1735
Official Dollar to Naira Exchange Rate (CBN Rates):
Meanwhile, the official exchange rates from the Central Bank of Nigeria for today are as follows:
- Buying Rate: N1654
- Selling Rate: N1655
It is crucial to remember that the rates provided in this article may not precisely match the rates at the time of your transaction. The prices in both the black market and official channels can fluctuate throughout the day based on market demand and supply conditions. Always check with your bank or currency exchange provider for the most current rates.
