The exchange rate between the United States Dollar and the Nigerian Naira at the Lagos Parallel Market, popularly known as the black market or Aboki forex market, stood at ₦1,400 per dollar for selling and ₦1,390 per dollar for buying.
According to sources from Bureau De Change (BDC) operators, the black market continues to witness fluctuations driven by demand and supply pressures within the foreign exchange market.
Dollar To Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Rate |
|---|---|
| Buying Rate | ₦1,390 |
| Selling Rate | ₦1,400 |
Meanwhile, the official exchange rates released through the Central Bank of Nigeria window showed slightly lower figures compared to the parallel market.
The apex bank maintained that it does not officially recognise transactions carried out in the black market and has consistently advised Nigerians seeking foreign exchange to approach commercial banks and other approved financial institutions.
Dollar To Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Official Rate |
|---|---|
| Highest Rate | ₦1,373 |
| Lowest Rate | ₦1,369 |
It is important to note that forex exchange rates may vary depending on location, volume of transaction and market conditions. As a result, the rates at which individuals buy or sell dollars could differ slightly from the figures quoted in this report.
