Black Market Dollar to Naira Exchange Rate: How Much is a Dollar to Naira Today?
Here’s the latest exchange rate for the black market (parallel market) as of November 16th. You can swap your dollars for naira at these rates.
What’s the Current Dollar to Naira Exchange Rate in the Parallel Market?
Aboki Dollar Rate: A Summary
According to Bureau De Change (BDC) sources, Lagos-based parallel market players are buying a dollar for N1740 and selling it for N1745 on November 16th, 2024.
It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market, instead urging individuals to approach their banks for foreign exchange needs.
Black Market Dollar to Naira Exchange Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1740 |
| Selling Rate | N1745 |
CBN Dollar to Naira Exchange Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1657 |
| Selling Rate | N1658 |
Important Note
Rates may vary depending on where you buy or sell foreign exchange, as prices fluctuate.
The recent surge in food and fuel prices has pushed Nigeria’s inflation rate to 33.88% in October 2024, up from 32.70% in September, according to the National Bureau of Statistics (NBS).
The NBS also reported a 2.64% month-on-month headline inflation rate and a 39.16% year-on-year food inflation rate in October.
The Central Bank of Nigeria’s Inflation Expectation Survey had predicted an increase in inflation, which has now been confirmed.
According to reports, energy costs have seen a significant rise during this period, with petrol prices reaching over ₦1,030 per litre in October, up from ₦617 per litre in August 2024.
