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Black Market Dollar (USD) to Naira (NGN) Exchange Rate – Tuesday, April 29, 2025
The exchange rate between the U.S. Dollar and the Nigerian Naira continues to fluctuate on the parallel market, commonly referred to as the black market or “Aboki fx.” As of Monday, April 28, 2025, the dollar was purchased at ₦1610 and sold for ₦1612, based on information from Bureau De Change (BDC) operators in Lagos.....KINDLY READ THE FULL STORY HERE▶
It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize these parallel market rates. Instead, the CBN advises individuals and businesses seeking foreign exchange to transact through authorized banking institutions.
Current Exchange Rates:
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Black Market:
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Buying Rate: ₦1610
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Selling Rate: ₦1612
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CBN Official Rate:
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Highest Rate: ₦1603
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Lowest Rate: ₦1596
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Exchange rates may vary depending on the location and the volume of transactions involved.
In a related development, Nigerian diplomats are engaging with BRICS counterparts in Brazil to discuss strategies for mitigating the impact of the United States’ recent trade measures. The diplomatic gathering precedes the BRICS leaders’ summit slated for July and aims to reinforce the importance of multilateral trade frameworks. This dialogue gains urgency amid the International Monetary Fund’s recent downgrade of global growth projections, which it attributes to the ripple effects of new U.S. tariffs under President Donald Trump’s administration.
The BRICS alliance—comprising Brazil, Russia, India, China, and South Africa—has expanded over time to include nations such as Iran, Egypt, and the UAE. Together, they now represent almost half the world’s population and approximately 39% of global GDP.
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