What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of January 20th, 2024, the dollar to naira exchange rate is 1 USD to 1,350 NGN at the black market.
This means that for every one US dollar, you can exchange it for ₦1,350, 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?
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 N1340 and sell at N1350 on Thursday 19th January 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1350 |
| Selling Rate | N1360 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | 852 |
| Selling Rate | 853 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Naira Exchanges For N1,280/$ At Parallel Market
The Nigerian currency experienced mixed outcomes in different foreign exchange markets on Monday, with the Naira trading at N1,280 against the US dollar in the physical black market, a slight depreciation from N1,260 last week.
In contrast, the Nigerian Autonomous Foreign Exchange Market (NAFEM) saw the Naira gain strength, closing at N838.95 to the dollar, an improvement from the previous Friday’s rate of N890.54/US$1.
Throughout the past week, the Naira’s value fluctuated significantly, hitting a weekly low of N1089.51/US$1 on Tuesday and a high of N856.57/US$1 on Monday.
This volatility reflects the ongoing challenges in stabilizing the Naira’s value in the face of economic pressures.
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In the Peer-to-Peer (P2P) market, often utilized by crypto traders, retail investors, and speculators, the Naira was valued at approximately N1272/$ in the early hours of Monday, dropping from the weekend’s rate of N1255/$.
