What is the dollar-to-naira exchange rate at the black market, also known as the parallel market (Aboki fx)?

See the black market dollar-to-naira exchange rate for April 10 below. You can swap your dollar for Naira at these rates.

How much is a dollar to naira today in the black market?

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

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1170 and sell at N1180 on Wednesday, April 10, 2024, according to sources at the 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 N1170
Selling Rate N1180

Dollar-to-Naira CBN Rate Today

Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1246
Selling Rate N1247

Please note that the rates at which you buy or sell forex may be different from what is captured in this article because prices vary.

The World Bank has forecasted a promising uptick in the growth rates of African economies, with expectations of an increase from 2.6 per cent in 2023 to 3.4 per cent in 2024 and further to 3.8 per cent by 2025.

Naija News reports that this positive outlook is encapsulated in the bank’s latest Africa’s Pulse Report, which attributes the anticipated rebound primarily to a rise in private consumption alongside a decrease in inflation across Sub-Saharan Africa.

Despite this optimistic projection, the report cautions that the recovery path is laced with uncertainties due to several external and internal challenges.

These include the unpredictability of the global economic climate, the burden of increasing debt service obligations, frequent natural disasters, and the aggravation of conflicts and violence across the region.

While the median inflation rate is expected to cool down from 7.1 to 5.1 percent in 2024, it will remain significantly higher than pre-pandemic levels.

The report also highlights a concerning trend among over half of the African governments struggling with external liquidity problems and unsustainable debt, emphasizing that the growth rates, although improving, will still fall short of significantly impacting poverty reduction.