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Dollar to Naira Black Market Today Exchange Rate 8 May 2024
The local currency (abokiFx) opened at ₦1,445.00 per $1 at the parallel market otherwise known as the black market, today, Wednesday, 8 May 2024, in Lagos Nigeria, after it closed at ₦1,435.00 per $1 on Tuesday, 7 May 2024.
How does the black market dollar-to-naira exchange rate compare to the official rate?
The official exchange rate of the US dollar to the Nigerian naira, as of today, 8 May 2024, is ₦ 1,382 per US dollar.
This is the rate that the CBN uses for its transactions and interventions in the foreign exchange market. The official rate is also the basis for the exchange rates of other foreign currencies, such as the euro, the pound sterling, and the Chinese yuan.