What is Today’s Dollar to Naira Exchange Rate at the Black Market (Parallel Market)?
The current black market exchange rate for the U.S. Dollar (USD) to Nigerian Naira (₦) is as follows:
– Buying Rate: ₦1600
– Selling Rate: ₦1630
These rates are based on information from sources within the Bureau De Change (BDC) sector as of Monday, December 9, 2024.
Official CBN Dollar to Naira Exchange Rate
The Central Bank of Nigeria (CBN) maintains a different official exchange rate. Here’s a snapshot of the CBN rates for December 9, 2024:
– Highest Rate: ₦1554
– Lowest Rate: ₦1524
It’s important to note that the CBN does not recognize or endorse the parallel (black) market.
The apex bank advises individuals and businesses seeking foreign exchange to transact directly with their banks.
Why the Exchange Rates May Vary
The dollar-to-naira exchange rate can fluctuate throughout the day due to changes in demand and supply within the forex market.
Prices at different Bureau De Change operators may also differ based on location and availability of forex.
If you plan to buy or sell dollars, keep in mind that the actual rate you receive might differ from the figures listed here.
