Black market Dollar To Naira exchange rate today 5th February 2024
Curious about the Dollar to Naira exchange rate at the black market, also known as the parallel market (Aboki fx)?
Discover the black market Dollar to Naira exchange rate for 4th February below. Swap your dollar for Naira at these rates.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate)
According to The Informant247, at Lagos Parallel Market (Black Market), players buy a dollar for N1430 and sell at N1440 on Sunday, 4th February 2024, according to sources at Bureau De Change (BDC).
Remember, the Central Bank of Nigeria (CBN) doesn’t recognize the parallel market (black market). Individuals engaging in Forex are directed to approach their respective banks.
Dollar to Naira Black Market Rate Today
Black Market Exchange Rate Today
- Buying Rate: N1430
- Selling Rate: N1440
Dollar to Naira CBN Rate Today
CBN Rate Today
- Buying Rate: 1413
- Selling Rate: 1414
Keep in mind that the rates you buy or sell forex may differ from what’s captured in this article due to varying prices.
CBN Adopts New Cash Reserve Measure
The Central Bank of Nigeria (CBN) announced on Friday that it will no longer debit daily amounts from the Cash Reserve Ratio. Instead, it will implement an improved Cash Reserve Requirement method.
This change aims to facilitate better planning, monitoring, and alignment of bank records with those of the central bank. The directive, titled “Cash Reserve Requirement Framework Implementation Guidelines,” was issued on Friday in a circular signed by Dr. Adetona Adedeji, acting director of the department in charge of banking supervision.
The Cash Reserve Ratio represents the proportion of required cash held in reserves to total deposits made by the bank.
The CBN will adopt a methodical approach in executing the new framework for cash reserve requirements.
