Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, October 3, 2024

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, October 3, 2024

Curious about the current dollar to naira exchange rate in the black market, often referred to as the parallel market (Aboki fx)? Here’s the latest update for October 2.

Current Dollar to Naira Exchange Rate in the Black Market
In the Lagos Parallel Market, players are buying dollars at ₦1,640 and selling them for ₦1,680 as of Wednesday, October 2, 2024, according to sources from Bureau De Change (BDC).

Please be aware that the Central Bank of Nigeria (CBN) does not acknowledge the parallel market. It advises individuals looking to exchange foreign currency to approach their respective banks.

Black Market Rates for Dollar to Naira Today

• Buying Rate: ₦1,640
• Selling Rate: ₦1,680

CBN Dollar to Naira Rates Today

• Buying Rate: ₦1,600
• Selling Rate: ₦1,601

Keep in mind that the actual rates for buying or selling forex may differ from those stated in this article, as prices can vary.

Nigeria Receives $1.57 Billion Support Fund from World Bank
In related news, Nigeria has secured a fresh $1.57 billion support fund from the World Bank for three key initiatives. This funding aims to assist the Federal Government in improving human capital through enhanced health services for women, children, and adolescents. It also focuses on increasing resilience against climate change impacts, including floods and droughts, by upgrading dam safety and irrigation systems.

The new funding consists of:

• $500 million for addressing governance challenges in education and health services (HOPE-GOV)
• $570 million for the Primary Healthcare Provision Strengthening Program (HOPE-PHC)
• $500 million for the Sustainable Power and Irrigation for Nigeria Project (SPIN)