Today’s Black Market Dollar (USD) To Naira (NGN) Exchange Rate – December 30, 2024

Black Market Dollar (USD) to Naira (NGN) Exchange Rate for December 29, 2024

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

Below is the Dollar to Naira black market exchange rate for December 29, 2024. You can exchange your dollars for Naira at the following rates:

Black Market Exchange Rate (Aboki fx)

• Buying Rate: ₦1,660
• Selling Rate: ₦1,670

In Lagos’ parallel market, players were buying dollars at ₦1,660 and selling at ₦1,670 on Sunday, December 29, 2024, according to sources within the Bureau De Change (BDC).

Note: The Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has directed individuals seeking foreign exchange (Forex) to use their respective banks.

CBN Dollar to Naira Exchange Rate Today

• Highest Rate: ₦1,550
• Lowest Rate: ₦1,532

Disclaimer: Exchange rates may vary from what is captured here, depending on your location and the provider.

Currency Outlook for 2025

The Naira is projected to decline to a fair value of ₦1,804 per dollar in the official market by 2025.

This forecast is from Afrinvest’s report titled “Beyond The Rhetorics: Transforming Reforms to Tangibles”. The report highlights challenges the Central Bank of Nigeria (CBN) may face in meeting foreign exchange demands and managing fluctuations in the market.

“We anticipate continued exchange rate volatility in 2025, albeit at a moderate pace. The CBN may struggle to sustain market demand due to recent foreign reserve inflows being tied to stringent conditions,” the report stated.

This projection contrasts with the ₦1,500 per dollar rate proposed in the 2025 budget presented to the National Assembly.