The Dollar to Naira exchange rate in the Nigerian black market has remained relatively stable as traders opened the year cautiously. Findings from the Lagos parallel market, popularly known as the Aboki FX market, show that the US dollar is currently being sold at ₦1,480 and bought at ₦1,478.
Market operators attribute the marginal spread to reduced demand following the New Year celebrations, as many businesses are yet to fully resume operations. Currency dealers also noted that volatility remains high, driven by limited dollar supply and persistent pressure on the naira.
Meanwhile, the Central Bank of Nigeria (CBN) has continued to distance itself from activities in the parallel market, urging Nigerians seeking foreign exchange to patronise licensed banks and official channels.
As economic activities gradually pick up, analysts say the direction of the naira will depend largely on forex inflows and policy signals in the coming weeks.
Dollar to Naira Black Market Today’s Rate
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Selling Rate | ₦1480 |
| Buying Rate | ₦1478 |
Dollar to Naira CBN Today’s Rate
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Highest Rate | ₦1439 |
| Lowest Rate | ₦1427 |
Please note that buy or sell forex rates vary.
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