Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 10th April 2024

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 9th April, below.

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1200 and sell at N1210 on Tuesday 9th April 2024, according to sources at Bureau De Change (BDC).

How much is a dollar to naira today in the black market?

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
Buying Rate N1,246
Selling Rate N1,247

You can swap your dollar for Naira at these rates.

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

The Nigerian currency, the naira, witnessed a significant appreciation in the parallel foreign exchange (FX) market, reaching N1,120 to the dollar on Monday.

This rate reflects a 9.67 percent improvement compared to N1,240/$ recorded on April 3, indicating a positive shift in the currency’s value.

According to TheCable, in Lagos, Bureau de Change (BDC) operators, commonly referred to as street traders, set the purchase price of the dollar at N1,100 and the selling price at N1,120, thereby earning a profit margin of N20 per dollar.

This development is mirrored in the official trading window, where the naira strengthened by 1.63 percent to N1,230.61/$, up from N1251.05/$ on April 5.

The official transactions, monitored through the FMDQ Exchange platform overseeing the Nigerian Autonomous Foreign Exchange Market (NAFEM), recorded a substantial trading volume of $125.55 million.

---

---