What is the Dollar to Naira Exchange Rate at the Black Market, the Pounds to naira black market Today and the Euro To Naira today black market also known as the Parallel Market (Aboki FX)?
Please find below the black market exchange rate for the dollar to Naira on February 22. These are the rates at which you can exchange your dollar for Naira.
How much is a Naira to dollar today in the black market? Dollar to Naira Exchange Rate Today in the Black Market (Aboki Dollar Rate):
Dollar to Naira Black Market Rate Today, February 22, 2024:
Dollars to Nairas (USD to NGN) Black Market Exchange Rate Today
- Buying Rate: N1890
- Selling Rate: N1900
Pounds to Naira black market Today.
The British Pounds to Naira exchange rate is as follows.
- Buying Rate: N2225
- Selling Rate: N2230
Euro To Naira today black market
The Euro To Naira black market exchange rate today is :
- Buying Rate: N1890
- Selling Rate: N1915
While the Central Bank of Nigeria (CBN) sets the official foreign exchange rate, transactions happening outside authorized channels, like the parallel market, operate independently. It is recommended to use authorized channels like banks for foreign exchange transactions.
Naira to Dollar, Pounds to Naira, Euro to Naira Black Market Exchange Rates Today 21 February 2024
Dollar to Naira CBN Rate Today:
Dollar to Naira (USD to NGN) CBN Rate Today
- Buying Rate: N1,500
- Selling Rate: N1,504
Euro to Naira CBN Rate Today:
Dollar to Naira Exchange rate Today (CBN rates)
- Buying Rate: N1,494
- Selling Rate: N1,493
Pounds to Naira Today
Pounds to NGN CBN Rate Today
- Buying Rate: N1,886
- Selling Rate: N1,887
Euro to Naira Today
Euro to Naira exchange rate Today
- Buying Rate: N1,612
- Selling Rate: N1,613
Please be advised that the rates at which you buy or sell forex may differ from those displayed in this article due to price fluctuations.
Meanwhile, at the Lagos Parallel Market, popularly referred to as the Black Market, the exchange rate between the US dollars and the Naira concluded at 1650 per dollar yesterday, as reported by sources in the Bureau De Change (BDC).
Naira Continues Depreciation Streak, Tumbles to N1,900/$ at Parallel Market.
In the latest turn of events, the Nigerian naira continued its depreciation, falling to N1,900 against the dollar in the parallel section of the foreign exchange (FX) market on Tuesday.
This marks a 9.83 percent decline from the N1,730 recorded the previous day. Currency traders, also known as Bureau de Change (BDC) operators, quoted the buying rate at N1,850 and the selling rate at N1,900, with a profit margin of N50.
Expressing concerns, a trader named Aliyu stated, “We don’t understand the rate, and it will get more expensive tomorrow.”
However, at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency saw a recovery, reaching N1,551.24 per dollar on Tuesday. This signifies a 2.9 percent appreciation from the N1,598.54 traded on Monday.
Data from the FMDQ Securities Exchange, the platform overseeing FX trading in Nigeria, revealed an intra-day high of N1,701 and a low of N1,100 for the local currency.
In ongoing efforts to restore market stability and enhance liquidity, the Central Bank of Nigeria (CBN) and the Office of the National Security Adviser (ONSA) have joined forces. Their partnership aims to investigate and penalize individuals engaged in illicit activities within the FX market. This coordinated effort involves key law enforcement agencies such as the Nigeria Police Force (NPF), the Economic and Financial Crimes Commission (EFCC), the Nigeria Customs Service (NCS), and the Nigeria Financial Intelligence Unit (NFIU).
On February 20, 2024, President Bola Tinubu announced that his administration is actively working to raise at least $10 billion. The goal is to increase liquidity, stabilize the naira, and foster economic growth.
Keep up with the latest news and updates with Ejes Gist News, your reliable source for news in Nigeria right now on the Dollar to Naira Black Market.
