Curious about today’s dollar to naira exchange rate in the black market (also known as the parallel market or Aboki fx)?
Current Dollar to Naira Black Market Exchange Rate (Aboki FX)
The black market exchange rate for the dollar to naira fluctuates daily based on demand, and today, November 11, 2024, Bureau De Change (BDC) operators in Lagos report the following rates:
– **Buying Rate:** ₦1,735
– **Selling Rate:** ₦1,740
These rates allow you to exchange your dollar for naira within the parallel market but note that they differ from the Central Bank of Nigeria’s official rate.
Central Bank of Nigeria (CBN) Dollar to Naira Official Rate
The CBN, which does not endorse black market transactions, has established the following rates for authorized forex transactions:
– **CBN Buying Rate:** ₦1,664
– **CBN Selling Rate:** ₦1,665
It is essential to note that the exchange rate may vary based on your location and the specific exchange point.
Background and Recent Developments
Amid a depreciating naira, inflation has impacted essential commodities in Nigeria, causing increases in food and goods prices.
