What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Mallams.NG fx)?
See the black market Dollar to Naira exchange rate for 29th December, 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 (Mallams.NG dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1660 and sell at N1670 on Sunday 29th December 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1660 |
| Selling Rate | N1670 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Highest Rate | N1550 |
| Lowest Rate | N1532 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Meanwhile, the Nigerian currency, the Naira, is expected to decline to a fair value of ₦1,804 per dollar in the official market by 2025.
This forecast is outlined in a recent Afrinvest report, ‘Beyond The Rhetorics: Transforming Reforms to Tangibles’.
The report indicates that this projection stems from the expectation that the Central Bank of Nigeria (CBN) may face challenges in fulfilling foreign exchange demands and managing anticipated fluctuations in the foreign exchange market in the upcoming months.
“We anticipate that exchange rate volatility will persist in 2025, albeit at a modest pace.
“Our prognosis is hinged on the belief that the CBN would be constrained from adequately meeting market demand on a sustained basis, as the recent FX reserves accretion was largely driven by inflows from inorganic sources, including those with stringent conditions on usability,” the report said.
This contrasts with the ₦1,500 per dollar rate suggested in the 2025 budget presented to the National Assembly.
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