Are you curious about the Dollar to Naira exchange rate at the black market, also known as the parallel market?
Look no further for the latest information, including rates and trends. As of January 20th, here’s what you need to know:
Dollar to Naira Exchange Rate Today – Black Market (Aboki Dollar Rate):
At the Lagos Parallel Market (Black Market), as at January 19th, individuals buy a dollar for N1350 and sell it at N1360, according to sources at Bureau De Change (BDC).
It’s crucial to note that the Central Bank of Nigeria (CBN) doesn’t recognize the parallel market (black market). The CBN directs individuals interested in Forex transactions to approach their respective banks.
Exchange Rates | Lagos Parallel Market (Black Market) | CBN Official Rate |
---|---|---|
Date: January 19, 2024 | ||
Buying Rate | N1350 | 890 |
Selling Rate | N1360 | 891 |
Current Dollar to Naira Black Market Rates:
- Buying Rate: N1350
- Selling Rate: N1360
CBN’s Dollar to Naira Rate Today:
The CBN’s official rate for a dollar to naira stands at a buying rate of 890 and a selling rate of 891.
Please be aware that the rates for buying or selling forex may vary from those captured in this article due to market fluctuations.
CBN Addresses FX Backlog with $2 Billion Disbursement:
The Central Bank of Nigeria (CBN) has taken significant steps to address the backlog of outstanding foreign exchange liabilities, disbursing approximately $2 billion across key sectors like manufacturing, aviation, and petroleum.
Hakama Sidi Ali, the Acting Director of the Corporate Communications Department at the CBN, shared that the bank has successfully settled the complete liabilities of 14 banks and initiated settlements with foreign airlines.
Additionally, the CBN has initiated an independent forensic review by a reputable firm. The payment process for the forex backlog related to eligible transactions has already commenced.
Stay informed about the dynamic Dollar to Naira exchange rates and the CBN’s efforts to manage the foreign exchange landscape.