Black Market Exchange Rate For Dollar To Naira Today: April 26th, 2024

Black Market Exchange Rate For Dollar To Naira Today: April 26th, 2024

In the quest for the latest updates on the Dollar to Naira exchange rate, seekers often turn their attention to the black market, also known as the parallel market. But what’s the story for today, April 26th, 2024?……READ ALSO Black Market Dollar To Naira Exchange Rate For April 25th, 2024

For those curious about the current dollar to naira exchange rate in the black market, commonly referred to as “Aboki fx,” here’s the scoop. Take a look at the black market Dollar to Naira exchange rate for April 25th:

How Much is a Dollar to Naira Today in the Black Market? Diving into specifics, at the Lagos Parallel Market (Black Market), players purchased a dollar for N1380 and sold it at N1420 on Thursday, April 25th, 2024, as confirmed by sources at the Bureau De Change (BDC).

It’s essential to remember that while the black market remains a significant player in currency exchange, the Central Bank of Nigeria (CBN) does not officially recognize it. Instead, the CBN directs individuals seeking forex transactions to approach their respective banks.

Current Black Market Exchange Rates:

• Buying Rate: N1380
• Selling Rate: N1420

Meanwhile, it’s worth noting the CBN’s rates for comparison:

• CBN Buying Rate: N1329
• CBN Selling Rate: N1330

Be mindful that the rates for buying or selling forex can fluctuate, so the figures presented here might not precisely reflect the current market rates.

In another development, the CBN has initiated the sale of fresh dollars to Bureau De Change (BDC) operators at ₦1,021/$1. This marks the second sale this month and the fourth this year, emphasizing the CBN’s efforts to address retail-end market needs, such as travel allowances, tuition fees, and medical payments.

Under this policy, eligible BDCs can access a total of $10,000 each, ensuring a maximum markup of 1.5% over the buying price. This measure aims to prevent price gouging and ensure that consumers reap the benefits of the discounted rate for their personal forex transactions.

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