Current Black Market Exchange Rate: Dollar to Naira (Aboki Fx)
If you’re looking to exchange your dollars for naira, you can do so at the following rates.
What’s the Current Black Market Exchange Rate?
Aboki Dollar to Naira Exchange Rate for November 3, 2024:
According to sources at Bureau De Change (BDC), the parallel market (black market) players are buying a dollar for N1713 and selling at N1720. This rate is based on Sunday, November 3, 2024.
It’s important to note that the Central Bank of Nigeria (CBN) doesn’t recognize the parallel market (black market), as they’ve directed individuals who want to engage in foreign exchange (Forex) to approach their respective banks instead.
Current Black Market Exchange Rates
| Buying Rate | Selling Rate |
| N1713 | N1720 |
CBN Exchange Rate for November 3, 2024
| Buying Rate | Selling Rate |
| N1669 | N1670 |
Important Note
The rates you buy or sell foreign exchange may vary from those listed here, as prices can fluctuate.
There’s been a recent development in the news about Dangote Refinery and its alleged price for Premium Motor Spirit (PMS), also known as petrol. According to reports, Dangote Refinery has described the allegations as fake news.
Previously, oil marketers had claimed that the price of petrol produced by Dangote Petroleum Refinery stood between N1,015 and N1,028 per litre. They believed it would be reasonable to import the product from the international market, as the landing cost was N978.01 per litre as of October 31, 2024.
Marketers plan to import petrol and sell it at a lower price than Dangote’s refinery prices, as well as those of the Nigerian National Petroleum Company Limited (NNPCL).
According to data from the Major Oil Marketers Association of Nigeria, the landing cost of petrol stood at N978.01 per litre as of October 31, 2024. Diesel and aviation fuel had landing costs of N1,069.97 and N1,119.67 per litre, respectively. The landing cost represents the unit price of imported fuels upon arrival in Nigeria.
Despite requests for transparency, Dangote Refinery has not publicly disclosed its petrol prices. However, an anonymous source among major marketers confirmed that Dangote sells bulk purchases at N1,015 per litre and smaller quantities at N1,028.
