Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 29th October 2024

What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?

See the black market Dollar to Naira exchange rate for 28th October, below. You can swap your dollar for Naira at these rates.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1740 and sell at N1746 on Monday 28th October 2024, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira CBN Rate Today

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Airtel Africa’s Revenue Drops As Naira Depreciates In Value

Airtel Africa reported a revenue decline to $2.37 billion for the half-year period ending September 30, 2024, primarily attributed to the significant depreciation of the Nigerian naira.

Although revenue in constant currency experienced a 19.9 percent increase, the reported revenue decreased by 9.7 percent due to the adverse effects of the weakened naira on the company’s earnings.

The Central Bank of Nigeria’s (CBN) 2023 decision to unify the foreign exchange rate led to a dramatic fall in the naira’s value, plummeting from ₦471/$ to ₦1,601.20 by October 2024.

The financial report for this period also indicated that escalating fuel prices in its operational regions and a reduced revenue contribution from Nigeria following the devaluation resulted in a decline in EBITDA margins from 49.6 percent in H1 2024 to 45.8 percent.

Airtel Africa’s profit after tax stood at $79 million, adversely impacted by $151 million in derivative and foreign exchange losses (net of tax), largely due to the further depreciation of the naira.

During this timeframe, Airtel Africa’s customer base expanded by 6.1 percent, reaching 156.6 million, while data consumption per customer surged by 30.9 percent to 6.6 GB. Additionally, smartphone penetration increased by 5.3 percent, achieving a level of 42.9 percent.