Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 6th 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 5th April, 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 N1240 and sell at N1250 on Friday 5th April 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.

Currency Traders Disclose Why Naira Has Been Appreciating, Predict What Might Happen In April

Currency traders have shared their thoughts on why the Naira has been appreciating against the Dollar over the past few weeks.

According to data from FMDQ Securities, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market closing below the ₦1,300 ceiling marks the first instance since January 26 of this year.

The Naira depreciated to as low as ₦1,615/$1 on March 13, 2024.

Since the central bank introduced a slew of forex policies in March, the Naira has gained over 21 percent against the Dollar.

Currency traders who spoke to Punch, attributed the naira appreciation to waned demand for the greenback note and the decision of the apex bank to sell foreign exchange to operators.

Analysts at Afrinvest also predicted that the Naira would trade within the similar band in the month of April as the CBN continues its activities to mop up liquidity and attract more capital.