By Milcah Tanimu

For those seeking the current Dollar to Naira exchange rate on the black market, commonly known as the parallel market or Aboki FX, here are the latest figures for April 15th, 2024:

– Buying Rate: N1100
– Selling Rate: N1115

Please be aware that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market and advises individuals to conduct their foreign exchange transactions through authorized banks.

In addition to the black market rates, the CBN’s rates for today are as follows:

– Buying Rate: N1138
– Selling Rate: N1139

It’s essential to note that the actual rates you encounter may vary from those provided here due to market fluctuations.

Naira Strengthens to ₦1,000/$ in Parallel Market Ahead of CBN Intervention

The value of the Nigerian naira experienced a significant boost on Monday, with reports indicating that by noon, it was being sold at ₦1,000 to the dollar in the parallel market. This surge follows an opening rate of ₦1,130 to the dollar earlier in the day.

Last week, the Central Bank of Nigeria (CBN) injected $15.88 million into the Bureau De Change (BDC) market at a rate of ₦1,101 to the dollar, contributing to the strengthening of the naira’s value.

The CBN typically sells dollars to BDCs at rates aligned with those quoted on the Nigeria Autonomous Foreign Exchange Market (NAFEM).

As anticipation built for another liquidity injection from the apex bank, the value of the naira ranged between ₦1,265 and ₦1,100 against the dollar last Friday.

Today, the naira commenced trading on the parallel market at ₦1,130 to the dollar, with its value firming up to ₦1,000 by midday, according to reports from Leadership.