Black Market Dollar To Naira Exchange Rate Today 16 February 2024

Black Market Dollar To Naira Exchange Rate Today 16 February 2024 Can Be Accessed Below.

IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. What it means is that…you can buy or sell 1 dollar at ₦560 and the price can change (high or low) within hours.

Newsrain Nigeria has obtained the official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates. Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.

As of now, you can purchase 1 dollar at a certain rate now, however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within hours.

What is the dollar to naira exchange rate today?

The local currency (abokiFx) opened at ₦1,565.00 per $1 at the parallel market otherwise known as the black market, today, Thursday, 15 February 2024, in Lagos Nigeria, after it closed at ₦1,555.00 per $1 on Wednesday, 14 February 2024.

As of February 16th, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1500 NGN in the black market, also referred to as the parallel market or Aboki fx.

For those engaging in currency transactions in the Lagos Parallel Market (Black Market), buyers purchase a dollar for N1,560 and sell it at N1,550 on Thursday, February 15th, 2024 based on information from Bureau De Change (BDC).

Meaning, the Naira exchange rate declined further when compared to today’s rate below.

This black market rate signifies the value at which individuals can trade their dollars for Naira outside the official or regulated exchange channels.

Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics.

How much is the Black market dollar to Naira today, 16th February 2024?

Kindly be aware that the Central Bank of Nigeria (CBN) does not acknowledge the existence of the parallel market, commonly referred to as the black market.

The CBN has advised individuals seeking to participate in Forex transactions to utilize official banking channels.

Dollar to naira exchange rate today black market (Aboki dollar rate):

Dollar to naira exchange rate today black market (Aboki dollar rate):

Dollar to Naira CBN Rate Today

Disclaimer: NEWSRAIN NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black 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.