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Today’s Black Market Dollar to Naira Exchange Rate: December 28, 2024
This article provides an overview of today’s dollar-to-naira exchange rates, including the Black Market, Bureau De Change (BDC), and Central Bank of Nigeria (CBN) rates....CONTINUE READING>>>
Exchange Rate Dynamics
Exchange rates are influenced by market factors such as the supply and demand for dollars, leading to hourly fluctuations. As a result, the rate at which you can buy or sell dollars may change throughout the day.
Black Market Dollar to Naira Rate
According to sources at the Bureau De Change, the dollar is being bought at ₦1,646 and sold at ₦1,650 in the Lagos Parallel Market (Black Market) as of Friday, December 27, 2024.
It’s important to note that the Central Bank of Nigeria (CBN) does not recognize black market transactions and encourages individuals to engage with authorized banks for foreign exchange.
Summary of Exchange Rates
| Market Type | USD to NGN Rate |
|---|---|
| Black Market (Aboki Rate) | Buying: ₦1,646 Selling: ₦1,650 |
| CBN Rate | Highest: ₦1,550 Lowest: ₦1,532 |
Disclaimer: The rates mentioned here may differ slightly from the actual rates at which forex is bought or sold due to variability in market conditions.
