Dollar to Naira Exchange Rate Today: Black Market Update 7th April 2024
Sunday, 7 April 2024
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What's the Latest Dollar to Naira Exchange Rate at the Black Market?
Wondering about the current dollar to naira exchange rate in the black market, also known as the parallel market (Aboki FX)? Let's dive into the details.
Black Market Dollar to Naira Exchange Rate Today (7th April 2024)
Curious about today's dollar to naira exchange rate in the black market? Here's the latest update:
According to sources at Bureau De Change (BDC), on Saturday, April 7th, 2024, the exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) stands at:
- Buying Rate: N1245
- Selling Rate: N1250
CBN Rate vs. Black Market Rate
It's crucial to understand the disparities between the rates provided by the Central Bank of Nigeria (CBN) and those prevalent in the black market.
Dollar to Naira Black Market Rate Today
- Buying Rate: N1245
- Selling Rate: N1250
Dollar to Naira CBN Rate Today
- Buying Rate: N1250
- Selling Rate: N1251
Central Bank's Stance on the Black Market
It's noteworthy that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market). Instead, it directs individuals who wish to engage in forex transactions to approach their respective banks.
Factors Affecting Exchange Rates
Keep in mind that the rates for buying or selling forex may vary from what's captured here. Prices fluctuate due to several factors, including economic indicators, geopolitical events, and market sentiment.
Staying updated on the dollar to naira exchange rate is crucial for individuals and businesses involved in international transactions. While the black market provides immediate rates, it's essential to consider the CBN's directives and consult with authorized financial institutions for reliable forex transactions.
Ensure you're well-informed and make informed decisions regarding currency exchanges. Stay tuned for future updates on currency exchange rates.
New Data Price On Bz Data Sell:
*MTN SME 1 N255/1GB AND SME 2*
*MTN CORPORATE N262/1GB*
*AIRTEL CG N273/1GB*
*GLO CG N225/1GB*
*9MOBILE N135/1GB*
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