Nigeria black market exchange rate of dollar to naira for October 28, 2016

Visit to know the current Nigeria Black market exchange rates of dollar to naira, pound and naira, and the euro vs naira every morning.

For more updated rates today, check our latest black market update page below.

The United States Dollar Exchange Rate – USD Rate to Nigeria Naira Exchange Rate – NGN rate in black market:

28/10/2016: 464/ 473

Travelex has commenced the sales of FOREX to Bureau De Change operators in the country. This development will further boost liquidity in the market and aid economic activities.

Samed Olukoya, a foreign exchange research analyst at Investors King Limited, said “If the CBN and Travelex can sustain the current arrangement it, will help fight speculation and gradually prop up the Naira value against the dollar, pound, and euro.”

The president of the Association of Bureau De Change Operators, Aminu Gwadabe also confirmed that each of the 3,000 recognized BDCs now get $15,000 each.

This represents a total of $45 million inflow into the system weekly.

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