Current Black Market Exchange Rate for Dollar to Naira
Discover the latest rates for buying and selling dollars at the parallel market, also known as the black market.
What’s the Current Exchange Rate for Dollars in the Black Market?
Black Market Dollar to Naira Exchange Rate (Aboki Forex Rate):
As of November 17th, 2024, participants in Lagos’ parallel market are buying dollars at N1735 and selling them at N1740. This information is based on sources from Bureau De Change.
It is essential to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and recommends that individuals engage in forex transactions through their respective banks.
Dollar to Naira Black Market Rates
| Dollar to Naira (USD to NGN) | Current Black Market Rate |
| Buying Rate | N1735 |
| Selling Rate | N1740 |
CBN Dollar to Naira Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1657 |
| Selling Rate | N1658 |
Important Note:
Keep in mind that the rates may vary depending on the supplier, and the prices provided in this article may differ from what you experience during a transaction.
A recent development shows that Nigeria has imported over 1.947 million metric tonnes of petroleum products between October 1st and November 11th, amidst calls from the Dangote Refinery for the country to stop fuel imports.
According to documents obtained by The Cable, 110 fuel cargoes were offloaded at various terminals in Warri, Port Harcourt, Calabar, and Lagos during the six-week period, which included premium motor spirit (PMS), diesel, and aviation fuel (Jet-A1).
The breakdown of imports consisted of:
– 1.52 million MT (2.02 billion litres) of petrol (PMS)
– 414,018 MT (487.1 million litres) of diesel (AGO)
– 13,500 MT (16.46 million litres) of Jet-A1 (aviation fuel)
The Nigerian National Petroleum Company (NNPC) accounted for 789,721 MT (1.05 billion litres) of the total volume, representing 40.5% of the imports.
This comes as the federal government has deregulated the downstream petroleum sector, leading to the Dangote Refinery calling for an end to petroleum imports. Aliko Dangote, the founder of the Dangote Group, expressed frustration during a press briefing, stating that the refinery had over 500 million litres of petrol in stock but was unable to sell due to ongoing imports.
