Many Nigerians continue to monitor the Dollar to Naira exchange rate at the black market, commonly referred to as the parallel market or Aboki FX, due to fluctuations in the official forex market.
Below is the Dollar to Naira exchange rate at the black market for Monday, January 20th, showing the prices at which traders exchange U.S. dollars for naira.
Dollar to Naira Black Market Exchange Rate Today
So, how much is one dollar worth in naira at the black market today?
According to information obtained from Bureau De Change (BDC) operators in Lagos, participants in the parallel market are selling one U.S. dollar for ₦1,498, while buying at ₦1,482 as of Tuesday, January 20th, 2025.
It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize transactions conducted in the parallel market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to carry out such transactions through licensed commercial banks.
Dollar to Naira Black Market Rate Summary
- Selling Rate: ₦1,498
- Buying Rate: ₦1,482
Dollar to Naira CBN Official Rate Today
At the official market regulated by the Central Bank of Nigeria, the exchange rate for the U.S. dollar differs from the parallel market.
- Highest Rate: ₦1,421
- Lowest Rate: ₦1,418
Please be aware that foreign exchange rates may vary slightly depending on location and dealer. As a result, the actual rate at which you buy or sell dollars may differ from the figures stated in this report.
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