Today’s Black Market USD To Naira Exchange Rate: October 28, 2024

Today’s Black Market USD To Naira Exchange Rate: October 28, 2024....KINDLY READ THE FULL STORY HERE▶

Dollar to Naira Exchange Rate in the Black Market

As of October 27, 2024, the black market, often referred to as the parallel market (Aboki FX), shows the following exchange rates for the dollar to naira:

•Buying Rate: N1696

•Selling Rate: N1710

It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize these rates. The CBN recommends that individuals seeking foreign exchange should approach their banks instead.

Current Exchange Rates

Black Market Rate:

•Dollar to Naira (USD to NGN):

•Buying Rate: N1696

•Selling Rate: N1710

CBN Rate:

•Dollar to Naira (USD to NGN):

•Buying Rate: N1634

•Selling Rate: N1635

Please be aware that the rates for buying or selling foreign exchange may vary from those listed here due to market fluctuations.

Economic Update

In a recent meeting during the World Bank-IMF Annual Meetings in Washington, D.C., Finance Minister Wale Edun and Oando Group President Wale Tinubu engaged with Afreximbank President Prof. Benedict Oramah. They discussed securing funding to support President Bola Tinubu’s economic reforms, particularly in Nigeria’s energy and trade sectors.

Edun praised Afreximbank for its substantial contributions, including a $3 billion crude oil repayment facility to the Nigerian National Petroleum Company Limited, which has been crucial for stabilizing the economy. He expressed Nigeria’s eagerness to collaborate further with Afreximbank in vital areas such as energy, infrastructure, and trade.

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