Today’s Black Market Dollar (USD) To Naira (NGN) Exchange Rate – 22nd December 2024

What is the Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki FX)?

Below is the black market Dollar to Naira exchange rate for Saturday, 21st December 2024. These rates reflect the buying and selling prices at which you can exchange dollars for naira.

Black Market Exchange Rate Today

• Buying Rate: N1670
• Selling Rate: N1680

At the Lagos Parallel Market (Black Market), Bureau De Change (BDC) operators buy a dollar at N1670 and sell at N1680, according to local sources.

Note: The Central Bank of Nigeria (CBN) does not recognize the parallel market and advises individuals requiring forex to approach their respective banks for transactions.

CBN Official Dollar to Naira Exchange Rate

• Highest Rate: N1570
• Lowest Rate: N1532

Disclaimer: The rates provided here may differ from what you encounter during transactions, as prices fluctuate based on location and market dynamics.

Updates from the Energy Sector

The Major Energy Marketers Association of Nigeria (MEMAN) has reported a slight reduction in the landing cost of Premium Motor Spirit (PMS), commonly known as petrol. The cost decreased to ₦970 per litre in December 2024, down from ₦971 per litre in November.

This adjustment follows a dip in crude oil prices, which fell to $73.77 per barrel on Wednesday, compared to $74 per barrel the previous week.

In its energy bulletin, MEMAN attributed the reduced landing cost to an exchange rate of ₦1,533.57/$ and a Brent crude oil price of $73.91 per barrel.

MEMAN highlighted, “International petroleum product pricing remains volatile due to various geopolitical and economic factors, including developments in the Middle East, China’s market trends, and the aftermath of the recent U.S. elections. The foreign exchange rate is also experiencing significant fluctuations, with landing costs likely to change multiple times within a single day.”