Black Market Dollar To Naira (USD To NGN) Exchange Rate Today, 12th March 2024

Black Market Dollar To Naira (USD To NGN) Exchange Rate Today, 12th March 2024

What is the current exchange rate for the Dollar to Naira in the black market, also known as the parallel market (Aboki FX)?……..READ ALSO Black Market Dollar To Naira Exchange Rate Update: March 11, 2024

See below the black market Dollar to Naira exchange rate for 11th March:

• Buying Rate: N1610
• Selling Rate: N1615

Please be aware that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market) for foreign exchange transactions. Individuals interested in Forex transactions are advised to approach their respective banks.

It’s important to note that the rates for buying or selling forex may vary from those stated in this article due to market fluctuations.

Nigeria’s Foreign Reserve Hits $34.11 Billion, Highest In 8 Months

As of March 7, 2024, Nigeria’s foreign reserves have reached $34.11 billion, marking a significant increase of 2.83% from the beginning of the year when it stood at $33.17 billion. This surge represents the highest level recorded in eight months.

According to data released by the Central Bank of Nigeria (CBN), the external reserves witnessed a notable boost of $993 million within just one month, reaching its peak in eight months.

The latest figure indicates a consistent growth trend in the external reserves, maintaining levels between $32 to $33 billion over the past eight months. This recent milestone on March 7 marks the highest level since June 30, 2023, when the reserves peaked at $34.119 billion.