Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 30th 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 30th 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 N1743 and sell at N1748 on Tuesday 30th 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.

Nigeria’s Crude Oil Price Drops By 7%

Nigeria’s crude oil fell to $72 per barrel yesterday, down from $75 per barrel, representing an 8.2 percent decline compared to the $77.96 per barrel benchmark set in Nigeria’s 2024 budget.

Reports show that the prices of Bonny Light and other crude oils have decreased significantly due to Israel’s restrained response to Iran’s missile attack, which had initially raised fears of substantial disruptions to oil supply and pricing.

Earlier, the Organisation of Petroleum Exporting Countries (OPEC) reported that Nigeria’s oil production, excluding condensate, decreased to 1.324 million barrels per day (bpd) in September 2024, down from 1.352 million bpd in August 2024, marking a 2 percent reduction.

In a similar vein, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) noted that Nigeria’s total oil output, including condensate, fell to 1.544 million bpd in September 2024, a decline from 1.570 million bpd in August 2024, indicating a month-on-month decrease of 1.7 percent.

This situation suggests that Nigeria is facing shortfalls in oil prices and production, leading many experts to express concerns about the country’s ability to meet its budget projections for 2024.