Black Market Dollar to Naira Exchange Rate Today: September 12, 2024

Current Dollar to Naira Exchange Rates

As of today, September 12, 2024, the exchange rate for the Dollar (USD) to Naira (NGN) at the black market, also known as the parallel market (or Aboki fx), has shown notable fluctuations. Here’s a snapshot of the latest rates:

Black Market Exchange Rates:

• Buying Rate: ₦1650
• Selling Rate: ₦1660

In Lagos, parallel market participants report that a dollar is being bought for ₦1650 and sold for ₦1660. These rates reflect the current demand and supply dynamics in the informal forex market.

Central Bank of Nigeria (CBN) Exchange Rates:

• Buying Rate: ₦1611
• Selling Rate: ₦1612

It’s important to note that the Central Bank of Nigeria (CBN) does not officially endorse the black market rates. The CBN encourages individuals to engage in foreign exchange transactions through their respective banks to access the official rates.

Key Points to Remember:

• Exchange rates can vary significantly from one source to another.
• The rates provided here are indicative and may differ from actual transaction rates.
• For accurate and up-to-date information, always consult multiple sources before making any forex transactions.

Stay tuned for further updates on the Dollar to Naira exchange rate and other financial news.