As of today, December 24th, 2024, the Dollar to Naira exchange rate in the black market, also known as the parallel market, reflects notable fluctuations.
The exchange rate at the Lagos Parallel Market (Black Market) shows a buying rate of ₦1,658 and a selling rate of ₦1,665, based on information from Bureau De Change (BDC) sources.
While the black market rates continue to differ significantly from the official rates, it’s important to note that the Central Bank of Nigeria (CBN) does not endorse these parallel market rates.
The CBN encourages individuals to transact Forex through registered banks to ensure more stable and regulated exchanges.
Current Exchange Rates
– Dollar to Naira (USD to NGN) Black Market Rate:
– **Buying Rate:** ₦1,658
– **Selling Rate:** ₦1,665
– Dollar to Naira (USD to NGN) CBN Official Rate:
– **Highest Rate:** ₦1,545
– **Lowest Rate:** ₦1,532
Please remember that exchange rates may fluctuate slightly depending on market conditions, and the rates you encounter may vary from the official published figures.
Always consult your local Bureau De Change or financial institution for real-time rates.
As the Naira continues to face challenges in the parallel market, experts suggest closely monitoring exchange rate trends and considering official banking channels for more reliable and regulated transactions.
