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Dollar To Naira Exchange Rate Today 12th February 2023(Black Market)
Black market Dollar to Naira exchange rate for 12 February can be accessed below.
How much is a dollar to naira today in the black market? Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N750 and sell at N754 on Sunday, 12 February 2023, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N750 |
| Selling Rate | N754 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
CBN Official Naira Exchange Rates
The exchange rate between the Naira and the US dollar, according to the data posted on the Central Bank of Nigeria (CBN) Currency Exchange Rate where forex is official.
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 2/9/2023 | US DOLLAR | 458.99 | 459.99 | 460.99 |
| 2/9/2023 | POUNDS STERLING | 557.8105 | 559.0258 | 560.2411 |
| 2/9/2023 | EURO | 493.965 | 495.0412 | 496.1174 |
| 2/9/2023 | SWISS FRANC | 499.1192 | 500.2066 | 501.294 |
| 2/9/2023 | YEN | 3.5051 | 3.5127 | 3.5204 |
| 2/9/2023 | CFA | 0.7364 | 0.7464 | 0.7564 |
| 2/9/2023 | WAUA | 615.0608 | 616.4009 | 617.7409 |
| 2/9/2023 | YUAN/RENMINBI | 67.7027 | 67.8507 | 67.9986 |
| 2/9/2023 | SOUTH AFRICAN RAND | 25.9475 | 26.004 | 26.0605 |
| 2/9/2023 | DANISH KRONA | 66.3597 | 66.5043 | 66.6488 |
Even though the dollar opened in the parallel market for ₦754 per $1, the CBN does not recognise the parallel market, otherwise known as the black market.
The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
“The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it,” said the CBN Governor, Godwin Emefiele.
“I am sorry to say that I do not, and I do not intend to recognise any FX in the market.
“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it. If you want to sell the dollar, go to your bank and sell it,” the CBN Governor said during a press briefing on September 17, 2021.
Disclaimer: News Rain Nigeria does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
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