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Black Market Dollar To Naira Exchange Rate Today 25th November 2023
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 for 24th November, 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) players buy a dollar for N1150 and sell at N1155 on Friday 24th November 2023, according to sources at Bureau De Change (BDC).
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.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1150 |
| Selling Rate | N1155 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 837 |
| Selling Rate | 838 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Naira Slumps Against Dollar, Trades At N956/$ As Supply Drops By 46%
The official Investor and Exporter forex window witnessed a decline in naira value on Thursday, as the US Dollar supply decreased by 46.77 per cent.
According to data from the FMDQ Securities Exchange, this decline amounted to 13.78 per cent from the previous day’s closing rate of N840.53 against the US Dollar. Additionally, the market saw a decreased volume of dollars traded, with the turnover falling from $198.21m on Wednesday to $105.50m.
The day reportedly started with the naira trading at N800.90 against the US Dollar, but it experienced fluctuations throughout the day, reaching a high of N1136/$ and a low of N615/$. Eventually, it closed trading at N956.33/$, Naija News learnt.
The Central Bank of Nigeria (CBN) has made several efforts to address the backlog of foreign exchange forward contracts, yet the instability of the naira continues.
Recent data from the World Bank reveals that the naira is one of the worst-performing currencies globally, having lost approximately 40 per cent of its value since June.
