Black Market Rate in Naira – This is the latest USD-Naira exchange rate today. View the official dollar to naira exchange rate and black market exchange rate for dollar to naira. You can exchange your Dollar for Naira using CBN rates or parallel market rates available on the black market.

NAFEX is the official exchange rate platform.

The black market is the most popular way for Nigerians to exchange their US dollars for naira because the exchange rate used in the bank is lower than that available on the black market.

Aboki FX is a web platform that reports movements in the forex market since 2014. The platform reports the exchange rate of the dollar against the naira.

Aboki FX provides daily updates and information on the parallel market (black market) exchange rate for the Naira.

Black Market Rate in Dollar Naira Today

Dollar to Naira (USD to NGN) Black market exchange rate today
Purchase rate 570
Selling rate 575

How much does a dollar in naira cost today on the black market? I want to sell Dollar and I want to buy Dollar: I want to change the Naira into Dollar how much does it cost? What is the exchange rate of the current dollar against the naira in the parallel market?

It is important to note that the dollar to naira rate in the parallel or black market differs from the official exchange rate available on the Central Bank of Nigeria website.

What is the official dollar to naira exchange rate today

The exchange rate between the naira and the US dollar is officially negotiated at the Investor and Exporter (I&E) desk of NAFEX.

NAFEX, which is a short form for the autonomous fixing of Nigeria’s exchange rate, was established by the Central Bank of Nigeria in 2017 in response to the currency crisis of the time.

The black market or parallel market exchange rate is different from the CBN rate.

Dollar to Naira Trading at NAFEX Official Window

Price ($ / ₦) Change (%)
Opening rate on Thursday, December 30, 2021 413.79 -0.06
Closing price on Thursday, December 30, 2021 435.00 4.82

Nigeria’s dollar shortage is pushing more individuals and businesses to the parallel market, further widening the gap between official and unofficial exchange rates.

The problem with the naira has been a long-standing problem, but the depreciation of the value of the naira against the dollar in recent months has been notable. On July 27, the CBN said it would no longer sell foreign currency to bureau de change operators whom the bank accused of promoting corruption in the economy by exceeding the stipulated limit of $ 5,000 per transaction.

Thanks for reading the Dollar to Naira Black Market Exchange Rate Today, check again tomorrow for the official exchange rate and the black market / parallel market exchange rate.

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