Dollar to Naira Black Market Exchange Rate for Today, May 30, 2024: EUR, Pound
Dollar to Naira Black Market Exchange Rate for May 30, 2024
The exchange rate for a dollar to naira at Lagos, Abuja, and Port Harcourt Parallel Market (Black Market) closed yesterday at an average of ₦1,495 per dollar, according to the latest data obtained from Bureau De Change (BDC) operators.
Dollar to Naira Black Market Exchange Rate for Today
How much is $1 in Nigeria black market today?
- Buying Rate: ₦1,510
- Selling Rate: ₦1,520 / ₦1,530
Grey and Geegpay Dollar to Naira Rate Today
Geegpay Dollar to Naira Exchange Rate:
- EUR (€): Buying at ₦1680.03, Selling at ₦1695.55
- GBP (£): Buying at ₦1950, Selling at ₦1965
- USD ($): Buying at ₦1495, Selling at ₦1580
- EUR (€): Buying at ₦1640.03, Selling at ₦1719.18
- GBP (£): Buying at ₦1902, Selling at ₦2015.15
- USD ($): Buying at ₦1500, Selling at ₦1590.90
CBN Exchange Rate Dollar to Naira Today
Dollar to Naira (USD to NGN): CBN Rate Today
- Buying Rate: ₦1,380
- Selling Rate: ₦1,385
The Dollar to Naira Bank rate today is also the same as the CBN official rate, with a slight difference of one to two naira between different banks.
Important Note on Dollar to Naira Black Market Exchange Rate in Nigeria
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), and has directed individuals who want to engage in Forex to approach their respective banks. The rates you buy or sell forex at the Aboki exchange rate today in Lagos and other Aboki Forex rates may differ from what is captured in this article because prices vary.
Pounds to Naira Today
Pounds to NGN CBN Rate Today:
- Buying Rate: ₦1,815
- Selling Rate: ₦1,820
Euro to Naira Black Market Today
Euro to Naira Exchange Rate Today:
- Buying Rate: ₦1,600
- Selling Rate: ₦1,605
CBN’s Interventions Bolster Naira on Official Market.
Interventions in the foreign exchange market by the Central Bank of Nigeria (CBN) on Monday resulted in a significant appreciation of the naira against the dollar on the official market, according to a Bloomberg report yesterday.
Data posted on FMDQ’s website shows that the naira strengthened to ₦1,339.33 per dollar on Monday and yesterday, compared to ₦1,482.81 per dollar last Friday.
The report quoted Olaolu Boboye, an analyst at asset manager CardinalStone in Lagos, as saying: “The central bank dollar sales and OMO auction helped to strengthen the naira.”
According to the report, dollar liquidity had surged on Friday as the CBN’s sale of one-year paper attracted flows. The sale of ₦1.143 trillion ($800 million) worth of bills at a 22.49 percent yield more than doubled liquidity in the foreign exchange market to $556 million. However, that liquidity surge was not sustained into Monday, when the volume of dollars sold in the market declined to $181 million despite the central bank intervention.
Samir Gadio, head of Africa strategy at Standard Chartered Bank, noted that the central bank was selling hard currency in the range of ₦1,260 to ₦1,320 per dollar, well off the current exchange rate below ₦1,400 per dollar. The sales are taking place ahead of today’s maturity of a $1.3 billion futures contract. “The rationale may be to contain and pre-empt a potential increase in dollar demand in the coming days,” Gadio said. It is also “conceivable” that there could be another bill sale to offset the impact of the expiring contract, he added.
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