Stay updated with the current Dollar to Naira black market exchange rate. Check the latest USD to NGN rates, including CBN & Aboki fx rates. Convert your dollars at the best rates available in the parallel market.
Why Choose Black Market Rates?
Many Nigerians prefer to exchange their foreign currencies, especially US Dollars, using the black market because the exchange rates are significantly higher compared to what the banks offer. This page provides the latest black market rates for dollar to naira conversion.
Aboki fx Dollar to Naira Exchange Rate
Aboki fx is a trusted source for black market dollar to naira rates. Verify the current exchange rates for your currency exchanges in the parallel markets here.
Current Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
|---|---|
| Buying Rate | 1605 |
| Selling Rate | 1514 |
The current dollar to naira exchange rate in the parallel market can vary significantly from the rate on the Central Bank of Nigeria (CBN) website (www.cbn.gov.ng).
Official Exchange Rate vs. Black Market Rate
The price listed above is the current USD to NGN exchange rate. This rate is updated daily to keep you informed. The official exchange rate provided by the Central Bank of Nigeria is usually lower than the black market rate.
How Much is Dollar to Naira Official Exchange Rate Today?
The parallel exchange rate (black market) is always different from the CBN rate. Currently, the Naira is trading at 1700 Naira per Dollar. The Nigerian economy is significantly impacted by the Dollar to Naira exchange rate. As the Naira falls, inflation increases, affecting citizens.
Why the Black Market Rate is Higher
The black market, commonly referred to as the Aboki market, usually offers higher rates than banks regulated by the Central Bank of Nigeria (CBN). The CBN exchange rate is the rate used for official transactions and can be found on the CBN website (cbn.gov.ng).
Bank Rates for Dollar to Naira
Dollar to Naira bank rates are used when purchasing from foreign websites using Naira Mastercards or Debit cards from Nigerian banks. These rates are generally lower than the black market rates.
Impact on the Nigerian Economy
Central Bank Governor, Godwin Emefiele, has indicated that the Nigerian economy needs a significant turnaround. Efforts are being made to stabilize the Naira and control inflation.
Share Your Opinion
What’s your opinion on the Dollar to Naira black market exchange rate today? Share your thoughts on how the Government and the CBN can work together to provide reasonable USD to Naira rates in the future.
Meta Description: Discover the latest Dollar to Naira black market exchange rate. Stay informed about the current USD to NGN rates, including CBN and Aboki fx rates. Learn how the black market rates compare to official bank rates and how they impact the Nigerian economy.
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