Current Dollar to Naira Exchange Rate in the Parallel Market (Aboki FX)
The black market exchange rate for the U.S. dollar to the Nigerian naira has continued to fluctuate due to economic factors and market demand.
Below are the latest rates for Sunday, 9th February 2025, as obtained from Bureau De Change (BDC) sources.
Black Market (Parallel Market) Exchange Rate – 10th February 2025
– Buying Rate: ₦1,570 per $1
– Selling Rate: ₦1,590 per $1
These rates indicate how much traders at the Lagos Parallel Market are exchanging dollars for naira.
CBN Official Exchange Rate for Dollar to Naira
While the black market operates independently, the Central Bank of Nigeria (CBN) sets an official exchange rate for foreign currency transactions. Below are the CBN exchange rates:
– Highest Rate: ₦1,503 per $1
– Lowest Rate: ₦1,496 per $1
It is important to note that the CBN does not recognize or regulate the black market.
The apex bank advises individuals and businesses to conduct foreign exchange transactions through official channels such as banks and authorized forex dealers.
Key Takeaways:
– The black market rate remains higher than the official CBN rate.
– Forex rates fluctuate frequently due to market conditions, demand, and economic policies.
– The actual rates for buying or selling dollars may vary depending on location and individual negotiations.
Disclaimer: The exchange rates provided are based on market trends and may change at any time. It is advisable to confirm rates from multiple sources before making any forex transactions.
