Are you curious about today’s dollar to naira exchange rate in Nigeria’s black market, also known as the parallel market (Aboki FX)? Find the latest USD to NGN exchange rates for October 13, 2024, below.
Dollar to Naira Black Market Exchange Rate (Parallel Market)
As of October 13, 2024, in the Lagos Parallel Market, Bureau De Change (BDC) operators are buying dollars at ₦1690 and selling at ₦1700 per dollar. These rates may differ depending on your location or currency dealer.
CBN Official Dollar to Naira Exchange Rate
The Central Bank of Nigeria (CBN) does not recognize the black market rates. Instead, it recommends approaching authorized banks for forex transactions. The official CBN rate today is ₦1625 for buying and ₦1626 for selling.
| Dollar to Naira Exchange Rate | Rate (Black Market) |
|---|---|
| Buying Rate | ₦1690 |
| Selling Rate | ₦1700 |
| Dollar to Naira (CBN Official Rate) | CBN Rate Today |
|---|---|
| Buying Rate | ₦1625 |
| Selling Rate | ₦1626 |
Important Note: Forex prices can vary, so ensure you check with your local dealer for the most accurate rates.
Why NNPC Increased Fuel Prices Again
Nigerians have witnessed another hike in fuel prices, as the Nigerian National Petroleum Company Limited (NNPCL) has adjusted pump prices, increasing rates to ₦1,030 per litre in Abuja and ₦998 per litre in Lagos.
This increase follows the complete removal of subsidies on Premium Motor Spirit (petrol), confirmed by the spokesperson for the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, in a recent interview.
Ukadike explained that the price hike is part of the ongoing adjustments following previous increases, where pump prices rose from ₦617 to ₦897 per litre.
