Black Market Dollar to Naira Exchange Rate: What You Need to Know Today (13th September 2024)

Dollar to Naira exchange rate is a critical factor for those who trade in the black market, also known as the parallel market or Aboki FX. As of 13th September 2024, the exchange rate for a dollar to Naira in the Lagos Parallel Market is fluctuating, reflecting the economic landscape and demand for foreign currency.

Dollar to Naira Black Market Rate Today (13th September 2024):

• Buying Rate: N1655
• Selling Rate: N1665

According to sources at the Bureau De Change (BDC), on Thursday, 12th September 2024, black market operators in Lagos offered N1655 to buy a dollar and N1665 to sell. These rates might slightly vary depending on location and market conditions, so it’s advisable to check with local sources.

Important Note:

The Central Bank of Nigeria (CBN) does not recognize the parallel market, urging individuals seeking foreign exchange to go through official banking channels. The CBN’s official rate for the dollar is notably different from the black market:

• CBN Buying Rate: N1626
• CBN Selling Rate: N1627

Why the Rates Vary:

Please note that black market rates can fluctuate due to varying factors such as market demand, government policies, and economic conditions. The rates mentioned above might differ slightly from the rates at which you buy or sell foreign exchange in person, so it’s crucial to verify rates before making any transactions.

Stay updated on the Dollar to Naira exchange rates to make informed decisions, especially if you’re engaging in forex trades in the black market.