The dollar to naira exchange rate at the black market, also known as the parallel market (Aboki fx), has been fluctuating in recent days.
As of Sunday, August 4, 2024, the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1605 and sell at N1614.
The Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
However, the black market rate is widely used by many Nigerians who need to exchange dollars for naira.
According to sources at Bureau De Change (BDC), the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1605 and sell at N1614 on Sunday, August 4, 2024.
