Stay informed about the latest Dollar to Naira exchange rates at the black market, commonly referred to as the parallel market or Aboki FX.
Check the rates for December 14th below and be aware of the current dynamics for swapping your dollars to Naira.
Current Dollar to Naira Exchange Rate (Black Market – Aboki Dollar Rate)
As of December 14, 2023, the exchange rates in the Lagos Parallel Market (Black Market) indicate that players are buying a dollar for N1230 and selling at N1245, according to sources at Bureau De Change (BDC).
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market). The CBN directs individuals engaging in Forex activities to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
- Buying Rate: N1230
- Selling Rate: N1245
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN)
CBN Rate Today
- Buying Rate: 912
- Selling Rate: 913
Please be aware that the rates for buying or selling forex may differ from those mentioned in this article due to market fluctuations. Prices are subject to change.
Certainly! Below is a simplified table summarizing the key information from the “Dollar to Naira Exchange Rate Updates” and “Naira Scarcity Triggers PoS Service Cost Surge Nationwide” articles:
Dollar to Naira Exchange Rate (Black Market – Aboki Dollar Rate) | |
---|---|
Date: December 14, 2023 | |
Market: Lagos Parallel Market (Black Market) | |
Buying Rate: N1230 | Selling Rate: N1245 |
Dollar to Naira CBN Rate Today | |
---|---|
Buying Rate: 912 | Selling Rate: 913 |
Factors Influencing Foreign Exchange Rates
- Conditions of Trade
- Speculators
- Government Debt
- Interest Rates
- Inflation Rates
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Naira Scarcity Triggers PoS Service Cost Surge Nationwide
Point-of-sale operators across Nigeria have implemented a 100% increase in their service charges, directly responding to the ongoing Naira scarcity. Elegede Segun, the newly elected secretary of the Association of Mobile Money and Agent Banking Industry in Nigeria, confirmed this development.
Attributing the surge in fees to the Naira shortage, Segun highlighted that PoS operators are particularly affected, necessitating an increase in fees to sustain their operations. With Deposit Money Banks imposing limits on cash withdrawals, ranging from N20,000 to N50,000, PoS operators have had to explore alternative channels for cash.
Segun revealed that charges incurred by PoS agents to obtain cash from alternative sources, such as filling station operators, have increased from N800 to N1,600 for transactions like obtaining N100,000. The rise in costs is a direct impact of the current challenges posed by Naira scarcity in the financial landscape.
Source: The Informant247