Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 12th August 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 11th August, 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 N1603 and sell at N1610 on Sunday 11th August 2024, 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 CBN Rate Today

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

CBN Sells Dollar To Access, FBN, Fidelity, 23 Other Banks, Disqualifies Six (Full List)

The Central Bank of Nigeria (CBN) has confirmed that it sold foreign exchange (FX) to banks worth $876.26 million at ₦1,495 per dollar.

According to a statement dated August 7, signed by Omolara Omotunde Duke, CBN’s director of the financial markets department, the apex bank said the auction aimed to reduce demand pressure in the FX market and promote price discovery.

The CBN said the transaction was conducted through a retail Dutch auction system (rDAS).

According to the apex bank, while bids valued at $876.26 million from 26 banks qualified, bids from six banks were disqualified.

The CBN said four banks missed the deadline and two did not provide bids in their submitted templates.