Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today – April 29, 2024

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today – April 29, 2024

The Dollar to Naira exchange rate at the black market, also known as the parallel market (Aboki FX), is as follows:……READ ALSO Black Market Dollar To Naira Exchange Rate Today 28th April 2024

• Buying Rate: ₦1320
• Selling Rate: ₦1330

These rates were reported by sources at Bureau De Change (BDC) on Sunday, April 28, 2024.

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and directs individuals to approach their respective banks for Forex transactions.

Additionally, the Naira has experienced a strong comeback against the Dollar in the parallel market, appreciating to ₦1280/$. This marks a significant recovery from ₦1400 to a dollar reported on Friday, representing a gain of 8.57 percent.

The surge follows a period of volatility where the Naira had experienced fluctuations, with a midweek decline to ₦1400 attributed to fresh demand pressures. These fluctuations had raised concerns among investors and the public regarding the effectiveness of the CBN’s interventions in the forex market.

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