Black Market Dollar To Naira Exchange Rate Today, 13th April 2024

Black Market Dollar To Naira Exchange Rate Today, 13th April 2024

Curious about the current exchange rate between the Dollar and Naira on the black market? Also referred to as the parallel market or Aboki FX, here’s what you need to know for 13th April 2024:……READ ALSO Black Market Dollar To Naira Exchange Rate Update On April 10th, 2024 

Wondering about today’s Dollar to Naira exchange rate on the black market? Check out the figures for 12th April below. These are the rates at which you can trade your dollar for Naira.

What’s the Dollar to Naira rate in the black market today? Here’s the latest:

At the Lagos Parallel Market (Black Market), traders were buying a dollar for N1130 and selling at N1150 on Friday, 12th April 2024, according to sources from Bureau De Change (BDC).

Remember, the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market). It advises individuals engaging in Forex transactions to go through their respective banks.

Black Market Dollar to Naira Exchange Rate Today:

• Buying Rate: N1130
• Selling Rate: N1150

Please keep in mind that actual Forex rates may differ from those mentioned here as prices are subject to change.

Bureaux De Change Operators Make Demand From CBN:

The Association of Bureaux de Change Operators of Nigeria (ABCON) has suggested that the CBN issue a directive mandating non-oil exporters to retain foreign currencies in their domiciliary accounts for at least 48 hours.

ABCON’s president, Aminu Gwadabe, conveyed the association’s stance in a statement released recently. This statement supports the CBN’s recent measures to restrict the use of non-oil export domiciliary account deposits as collateral for naira loans.

This development closely follows the CBN’s directive on April 8, instructing all banks to cease accepting foreign currency-denominated collaterals for naira loans.

The regulatory authority has specified that existing loans backed by foreign currency collaterals must be reconciled within 90 days or subjected to a 150 percent capital adequacy ratio computation as part of the banks’ risk management measures.