Black Market Exchange for Dollar to Naira Today, 2 February 2024
Friday, 2 February 2024
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In the latest update on the Dollar to Naira exchange rates within the black market, commonly referred to as the parallel market or Aboki FX, the Nigerian Naira is experiencing a devaluation against the US Dollar. Information gathered from reliable sources at the Bureau De Change (BDC) indicates that in the Lagos Parallel Market on Thursday, 1st February 2024, traders were acquiring a dollar for N1450 and selling it at N1500.
The Central Bank of Nigeria (CBN) continues to distance itself from the parallel market, reiterating its non-recognition of this unofficial exchange platform. The CBN strongly advises individuals involved in Forex transactions to approach their respective banks for official rates and transactions. CONTINUE READING....
The current exchange rates for Dollar to Naira in both the Black Market (Aboki FX) and CBN are as follows:
Black Market Exchange Rate (Aboki FX):
- Purchase Rate: N1450
- Sale Rate: N1500
CBN Official Rate:
- Purchase Rate: 1356
- Sale Rate: 1357
It's crucial to be aware that the rates provided in this article are indicative and may fluctuate based on your location and specific forex transactions. Individuals are urged to cross-check with their banks for the most accurate and up-to-date rates.
The Central Bank of Nigeria has consistently maintained its position against the parallel market, emphasizing the importance of conducting Forex transactions through authorized banks. This steadfast stance is aimed at ensuring transparency and stability in the foreign exchange market. CONTINUE READING.....
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Readers are cautioned to exercise prudence and due diligence when participating in forex transactions. The rates mentioned in this article are for reference purposes and might differ from real-time market conditions. Market prices are subject to change, and it is advisable to verify the latest rates from reliable sources or financial institutions.
In summary, the current Dollar to Naira exchange rates in the black market indicate a challenging period for the Naira. As economic conditions fluctuate, individuals are urged to stay informed and make judicious decisions when engaging in forex activities.
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