Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 1st November 2024
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 31st November, 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 black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1745 and sell at N1750 on Thursday 31st November 2024, according to sources at 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 | N1745 |
| Selling Rate | N1750 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1650 |
| Selling Rate | N1651 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Nigeria has seen a surge of companies, both multinational and local, closing or relocating due to persistent economic issues, currency instability, and high operational expenses.
The latest firm to depart is South African retail giant Pick n Pay, which recently announced it will exit Nigeria, selling its 51% stake in a joint venture.
Pick n Pay’s CEO, Sean Summers, explained that this aligns with the company’s restructuring efforts outside South Africa.
Initially partnering with A.G. Leventis (Nigeria) in 2016, Pick n Pay opened its first Nigerian store in 2021, eventually operating two locations.
However, the exit reflects the impact of Nigeria’s economic challenges, unstable naira, and regulatory difficulties on the retail industry.
According to The Punch, an economist and former Director of Research and Advocacy at the Lagos Chamber of Commerce and Industry in Nigeria, Vincent Nwani, noted that over 10 companies shut down operations in 2020 alone and more than 20 companies exited the country.
