As of Saturday, 31st August 2024, the exchange rate for the US dollar to the Nigerian naira in the black market, also known as the parallel market (Aboki FX), is as follows:
- Buying Rate: N1630 per dollar
- Selling Rate: N1640 per dollar
Please note that these rates can vary depending on the location and the specific Bureau De Change (BDC) operators.
In contrast, the official exchange rate according to the Central Bank of Nigeria (CBN) is:
- Buying Rate: N1597 per dollar
- Selling Rate: N1598 per dollar
It’s important to remember that the CBN does not recognize the parallel market and has advised individuals who wish to engage in foreign exchange transactions to approach their respective banks.
