Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 9th March 2024

A dollar is worth how much in naira on the black market, also known as the parallel market (Aboki fx)?

Here is the dollar-to-naira exchange rate on the black market for March 8th. At these rates, you can trade your dollar for naira.

How much is one dollar worth in naira right now?

On Friday, March 8, 2024, participants in the Lagos Parallel Market (Black Market) exchanged a dollar for naira for N1610 and N1618 per dollar, according to Bureau de Change (BDC) sources.

The Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also known as the black market. Individuals who wish to engage in Forex transactions should contact their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira CBN Rate Today

Please keep in mind that the rates at which you buy and sell forex may differ from those described in this article due to price fluctuations.

Foreign Exchange Affecting Petrol Importation: Oil Marketers

The Major Energies Marketers Association of Nigeria (MEMAN), which represents the country’s major downstream marketers, has raised worry about potential issues in the distribution and supply chain of petroleum products as a result of the current foreign exchange market.

Speaking at a recent media session in Lagos, MEMAN’s Executive Secretary, Clement Isong, stated that FX market uncertainties have prevented members from importing Premium Motor Spirit (PMS), also known as petrol or fuel.

He noted the difficulty in precisely assessing the product’s landing cost, which influences the choice of the right pump price.

Isong voiced his colleagues’ concerns about the existing issues in the industry value chain, noting that their investments are not fully protected due to the dollarization of certain fees.