Black Market Dollar To Naira Exchange Rate For April 20th, 2024

Black Market Dollar To Naira Exchange Rate For April 20th, 2024

Looking for the latest black market exchange rate for the Dollar to Naira? Here’s the update for April 19th: At the Lagos Parallel Market (Black Market), the buying rate for a dollar stands at N1100, while the selling rate is N1150, as reported by sources at Bureau De Change (BDC)……READ ALSO Black Market Dollar To Naira (NGN) Exchange Rate Today, April 19, 2024

Please bear in mind that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market) for foreign exchange transactions. Instead, individuals interested in Forex are directed to approach their respective banks.

Here’s a summary of the current exchange rates: Dollar to Naira (USD to NGN) Black Market Exchange Rate:

• Buying Rate: N1100
• Selling Rate: N1150

Additionally, the CBN has clarified recent reports regarding the selling of Forex to Bureau De Change (BDC) operators at a rate of N1,001/$1. The CBN stated that such reports are false, reiterating that BDCs are required to sell to eligible end-users with a margin of no more than 1.5 percent above the buying cost.

For accurate and authentic information, the CBN advises Nigerians to refer to its official website.

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