BREAKING: Today’s Dollar To Naira Exchange Rate Released – See The Latest Figures

The latest figures from the Lagos parallel foreign exchange market indicate that the Nigerian naira continues to trade against the United States dollar at rates different from the official market, with Bureau De Change (BDC) operators exchanging the currency at ₦1,400 per dollar for selling and ₦1,390 per dollar for buying.

According to market information obtained by Ireporter Online, traders in the unofficial forex market quoted the dollar at the above rates as demand for foreign currency remained steady. The parallel market, popularly known as the Aboki FX market, continues to serve as an alternative source of foreign exchange for many individuals and businesses.

Meanwhile, the official rates published by the Central Bank of Nigeria (CBN) showed the dollar trading within a range of ₦1,360 to ₦1,363. The apex bank has consistently maintained that it does not recognize the parallel market and has advised Nigerians seeking foreign exchange transactions to obtain them through authorized financial institutions and commercial banks.

Market observers also noted that exchange rates in the parallel market are subject to fluctuations depending on demand, supply, location, and individual dealers, meaning actual buying and selling prices may vary from the quoted figures.