The Black Market exchange rate often offers a more advantageous rate for individuals dealing in dollars, in contrast to the official CBN rate.
The individuals overseeing these transactions are commonly referred to as Bureau De Change (BDC) Operators or colloquially as Aboki.
Now, having provided an introduction, let’s address the query: What is today’s Dollar to Naira exchange rate in the Black Market? As per reports from Zone 4 in Wuse, Abuja, recognized as one of the prominent BDC Centers in Nigeria, the Dollar was purchased at ₦1165 and sold at ₦1170 on the current day.
How much is a dollar to naira today in the black market?
As of Tuesday, December 5th, 2023, in the Lagos Parallel Market (Black Market), currency traders reportedly acquire a dollar for N1160 and sell it at N1165, as indicated by sources within the Bureau De Change (BDC).
It is essential to emphasize that the Central Bank of Nigeria (CBN) does not officially acknowledge the parallel market (black market). The CBN directs individuals seeking to engage in Forex transactions to approach their respective banks for such dealings.
Dollar to Naira Black Market Rate Today
Buying Rate N1165
Selling Rate N1170
Dollar to Naira CBN Rate Today
Buying Rate 951
Selling Rate 952