Current Black Market Dollar to Naira Exchange Rate (Aboki Fx): October 21st, 2024
Get the latest black market dollar to naira exchange rates for 21st October 2024, so you can swap your dollars for naira at these rates.
What is the Dollar to Naira Exchange Rate Today in the Black Market?
The current exchange rate for a dollar to naira in the Lagos parallel market, also known as the black market, is as follows:
As of October 21st, 2024, the Bureau De Change (BDC) reports that players in the parallel market are buying a dollar for N1715 and selling at N1725.
However, the Central Bank of Nigeria (CBN) does not recognize the parallel market and instead advises individuals who want to engage in foreign exchange transactions to approach their respective banks.
Dollar to Naira Black Market Exchange Rates Today
| Dollar to Naira (USD to NGN) | strong{Black Market Exchange Rate Today} |
| Buying Rate | N1715 |
| Selling Rate | N1725 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | strong{CBN Rate Today} |
| Buying Rate | N1651 |
| Selling Rate | N1652 |
Remember that exchange rates can vary, so the rates you buy or sell forex may differ from the rates presented here.
The National Bureau of Statistics (NBS) has reported a significant rise in the average retail price of petrol, also known as Premium Motor Spirit (PMS). As of September 2024, the price averaged ₦1,030.46 per litre, representing a 64.5% increase from September 2023’s ₦626.21 per litre.
The report also highlighted a 24.08% jump from August 2024, where the price averaged ₦830.46 per litre.
The state-by-state analysis of the situation shows that Katsina state led the pack with the highest average retail price at ₦1,096.15 per litre, followed by Ebonyi (₦1,090.94) and Akwa Ibom (₦1,085.71). On the other end, Yobe, Sokoto, and Kebbi states recorded the lowest prices, at ₦939.38, ₦961.67, and ₦986.67 respectively.
Regionally, the North-West Zone had the highest average price at ₦1,036.52, while the North-East Zone posted the lowest at ₦1,014.55.
Keep in mind that these prices may vary across different locations and sources.
