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Today’s update on the black market exchange rates, the dollar to naira rates remain notably high. For those involved in the parallel market, also known as the black market or Aboki fx, here’s the latest information.
Current Black Market Exchange Rate
As of 1st September 2024, the black market exchange rate for USD to NGN in Lagos is:
Buying Rate: ₦1,640 per dollar
Selling Rate: ₦1,650 per dollar
These rates are sourced from Bureau De Change (BDC) operators. It’s important to remember that these rates can fluctuate based on market demand and other factors.
CBN Exchange Rate
In contrast, the Central Bank of Nigeria (CBN) rates are:
Buying Rate: ₦1,597 per dollar
Selling Rate: ₦1,598 per dollar
The CBN does not officially recognize the black market rates and advises individuals to transact through authorized banks for official forex transactions.
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