Black Market Dollar (USD) To Naira (NGN) Exchange Rate Update For March 21, 2024

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Update For March 21, 2024

Discover the latest exchange rates between the Dollar and Naira in the black market, also known as the parallel market (Aboki fx)……READ ALSO Current Black Market Dollar To Naira (NGN) Exchange Rate – 18th March 2024

As of March 20th, 2024, the Dollar to Naira exchange rate in the Lagos Parallel Market (Black Market) indicates that players buy a dollar for N1500 and sell at N1520, according to sources at Bureau De Change (BDC).

Please be aware that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) for forex transactions, directing individuals to approach their respective banks for foreign exchange.

Here are the current rates:

• Dollar to Naira (USD to NGN) Black Market Exchange Rate:
  • Buying Rate: N1500
  • Selling Rate: N1520
• Dollar to Naira (USD to NGN) CBN Rate:
  • Buying Rate: 1561
  • Selling Rate: 1562

Note: Forex rates may vary from those mentioned in this article due to market fluctuations.

Stay informed about Nigeria’s economic landscape as inflation is projected to reach 32.77%, driven by escalating food prices and harvest depletion, according to Cordros Capital Research. This projection highlights persistent price pressures within the nation’s food sector, indicating significant challenges ahead.

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