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Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 5th April 2024

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What is the current exchange rate for the Dollar to Naira in the black market, also known as the parallel market (Aboki fx)? Here’s the exchange rate for April 4th:

The buying rate for a dollar to naira at the Lagos Parallel Market (Black Market) stands at N1245, while the selling rate is N1255 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) and directs individuals engaging in Forex to approach their respective banks.

Black Market Exchange Rate Today:
– Buying Rate: N1245
– Selling Rate: N1255

CBN Rate Today:
– Buying Rate: N1259
– Selling Rate: N1260

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It’s important to note that the actual rates for buying or selling forex may vary from those mentioned here because prices fluctuate.

Additionally, at the close of trading on April 5th, the naira appreciated to N1,240 per dollar at the parallel section of the Foreign Exchange (FX) market. This signifies an increase of 0.80 percent from the N1,250/$ reported on April 1.

Currency traders in Lagos quoted the buying rate of the local currency at N1,220 and the selling rate at N1,240.

At the official window, the local currency appreciated by 1.25 percent against the dollar from N1,278.58 on April 2 to close at N1,262.85 on April 5th.

During trading hours in the official window, a dollar was sold as high as N1,296 and as low as N1,210, according to FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM).

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The daily foreign exchange market turnover was $166.18 million.

With the current figures at both FX markets, the official market rate surpasses the parallel market rate by N22.85.

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