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Black Market Dollar To Naira Exchange Rate Today

Published By Johnbosco on Thursday, 16 January 2025, 7:10 pm

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Following yesterday’s exchange report, the Dollar to naira rate is still high despite CBN’s nonstop effort to restore the naira’s value.

Note that CBN doesn’t recognise the parallel market ‘Black Market’. The Black Market Exchange rate is typically higher than the official exchange rate because it is not regulated by the government.

Forex traders still trade with their respective banks as ordered by the CBN to help restore the value of the Naira. Bureau De Change operators still maintain 1.5% of the selling revenue as they abide by the CBN order.

What Factors Affect the Dollar to Naira Black Market Exchange Rate?

There are a number of factors that can affect the Dollar Black Market Exchange rate, including:

The value of the US dollar

Supply and demand for the Dollar

The political and economic situation in US and Nigeria

How to find a Reputable Dollar Black Market Exchange Dealer?

If you are looking to exchange USD for Naira, it is important to find a reputable dealer. You can find USD to NGN black market dealers online or in person. However, it is important to be careful when exchanging currency on the Naira Black Market, as there is a risk of being scammed.

Tips for Exchanging Dollars for Naira on the Black Market

Only exchange Dollar (USD) with reputable & Trustworthy dealers.

Ask for a written receipt for the exchange.

Do not exchange large amounts of Dollar currency at once.

Be aware of the current Dollars to Naira Black Market Exchange rate before you exchange your currency.

Dollar to naira today, via Lagos Parallel market: Buy at ₦1,600 and sell at ₦1,605 as Bureau De Change BDC disclosed.

How much is a dollar to naira today in the black market?

Check out the Dollar to Naira Black Market Exchange rate today (Aboki Dollar Rate) below.

Currency	Buying rate	Selling rate
USD	₦1,600.00	₦1,605.00

The inflation rate, against yesterday’s effect and reports, is still at the peak of elevation as merchandisers are still stocked in the market chart of their supposed deals.

They have yet to meet their stock expenditure, which has destroyed high price tags.

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