Dollar to Naira Black Market today 5 February 2024.
Navigating the tumultuous waters of the Dollar to Naira exchange rate can be challenging, especially in the unpredictable realm of the black market.
As of February 5, 2024, here are the latest rates:
Dollar to Naira Black Market (Aboki FX) Rates:
- Buying: N1440
- Selling: N1450
Keep in mind that black market rates are subject to frequent fluctuations and entail inherent risks. The Central Bank of Nigeria (CBN) advocates for official channels like banks to ensure secure transactions.
Official Dollar to Naira CBN Rate:
- Buying: N902
- Selling: N904
Beyond the Black Market Dollar to Naira exchange rate, here’s a glimpse into other currency exchanges:
- EUR: Euro to Naira
- Black Market: N1500-1550
- CBN: N1,300.39-1,314.90
- GBP: Pounds to Naira
- Black Market: N1800-1850
- CBN: N1,402.70-1,505.21
Considering alternatives for a safer exchange:
- Licensed Bureau de Change (BDC):
- Offers security but potential for higher rates.
- P2P Platforms (Paxful):
- Connect with individuals for secure exchange.
- Official Bank Channels:
- Possible under specific conditions and bank approval.
While the black market may offer higher rates, it comes with risks such as scams and operating outside official channels. Stay informed through reliable sources like Ejes Gist News and Aboki FX, but always verify rates locally before making transactions.
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