Find the dollar-to-naira exchange rate in the black market for June 23, 2024. Bureau De Change operators in Lagos report buying at N1495 and selling at N1500, compared to CBN's official rates of N1482 and N1483. Rates may vary.
The dollar to naira exchange rate in the black market (also known as the parallel market or Aboki fx) for June 23rd, 2024, shows that players buy a dollar for N1495 and sell at N1500. These rates were sourced from Bureau De Change (BDC) operators in Lagos. It's important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market and advises individuals seeking to engage in forex transactions to approach their respective banks.
The disparity between the black market rates and the CBN rates remains notable. The official CBN rates for the same day list the buying rate at N1482 and the selling rate at N1483. This difference highlights the ongoing challenges within the Nigerian forex market, as individuals and businesses often resort to the black market for better rates despite the CBN's directives.
Forex rates can vary, so the rates at which you buy or sell forex may differ from those listed. The fluctuating nature of the forex market means that keeping abreast of daily changes is crucial for anyone involved in currency exchanges.
