Findwhosabi News has obtained the official dollar to the naira exchange rate in Nigeria today, including the Bureau De Change (BDC) rate and CBN rates.
The Dollar to Naira Exchange rate at the black market is also known as the parallel market (Aboki fx)
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1555 and sell at N1560 on Friday 12th July 2024, according to sources at Bureau De Change (BDC).
Please note that the 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.
The rates you buy or sell forex may be different from what is captured in this article because prices changes per time.
The apex bank, in a circular on Wednesday 14th June 2023, said all FX windows were now collapsed into the investors & exporters (I&E) window.
The statement read, “Abolishment of segmentation. All segments are now collapsed into the Investors and Exporters (I&E) window. Applications for medicals, school fees, BTA/PTA, and SMEs would continue to be processed through deposit money banks.
“The operational rate for all government-related transactions shall be the weighted average rate of the preceding day’s executed transactions at the I&E window, calculated to two (2) decimal places.
“Proscription of trading limits on oversold FX positions with permission to hedge short positions with OTC futures. Limits on overbought positions shall be zero.
“The operational hours of trades shall be from 9 a.m to 4 p.m, Nigeria time.”
The apex noted that further guidance on the operational changes would be communicated to authorized dealers and the general public in due course.
The changes to operations in the country’s FX market imply that Nigeria has eased its control of the naira, allowing the local currency to float freely.
