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 2nd November, below. You can swap your dollar for Naira at these rates.
As of November 2nd, 2023, the dollar to naira exchange rate is 1 USD to 1175 NGN at the black market.
This means that for every one US dollar, you can exchange it for ₦1175, BrandSpur Nigeria reports.
This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
How Much is Dollar to Naira Today in the Black Market?
This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. However, you can buy and sell 1 USD at ₦1175 and ₦1170 as of the time of writing today.
What is the current exchange rate of the dollar to naira in the black market today?
According to News About Nigeria, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for ₦1175 and sold for ₦1170.
Exchange Rate of Dollar To Naira in Black Market Today?
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 1170 |
| Selling Rate | 1175 |
Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 11/1/2023 | US DOLLAR | 815.016 | 815.516 | 816.016 |
| 11/1/2023 | POUNDS STERLING | 988.2069 | 988.8132 | 989.4194 |
| 11/1/2023 | EURO | 859.1899 | 859.717 | 860.2441 |
| 11/1/2023 | SWISS FRANC | 896.6073 | 897.1573 | 897.7074 |
| 11/1/2023 | YEN | 5.3917 | 5.3951 | 5.3984 |
| 11/1/2023 | CFA | 1.4522 | 1.4622 | 1.4722 |
| 11/1/2023 | WAUA | 1193.6511 | 1194.3834 | 1195.1157 |
| 11/1/2023 | RIYAL | 217.2449 | 217.3782 | 217.5115 |
| 11/1/2023 | DANISH KRONA | 115.0762 | 115.1468 | 115.2174 |
| 11/1/2023 | SDR | 1071.0125 | 1071.6696 | 1072.3266 |
BrandSpurNG understands that although the dollar to naira opened at N1175 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.
On Thursday, November 2nd, 2023, individuals in the black market purchased one US dollar for N1175 and sold it for N1170. This shows that the value of the Naira has improved when compared to Wednesday, November 2nd, 2023 when the local currency was exchanged at N1180 to a Dollar and a Dollar was purchased at N1170.
