Shocking Turnaround: Dollar Sinks As Naira Climbs In The Parallel Market Today 22nd February 2025

The current exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) in the parallel market (commonly known as the black market or Aboki FX) shows that:…….READ MORE 

• Buying Rate: ₦1,500
• Selling Rate: ₦1,510

This reflects a slight improvement from the previous day’s rates, where the dollar was being bought for ₦1,505 and sold for ₦1,510.

Official Rates by Central Bank of Nigeria (CBN):

• The highest official rate: ₦1,509
• The lowest official rate: ₦1,491

The Naira has continued its gradual appreciation against the dollar in the parallel market, showing signs of stabilization as discrepancies between the official and parallel markets narrow.

Note: The Central Bank of Nigeria does not recognize the parallel market rates, and individuals are advised to use official channels for forex transactions.