Black Market Dollar To Naira Exchange Rate For April 25th, 2024

Black Market Dollar To Naira Exchange Rate For April 25th, 2024

As of April 24th, 2024, the black market exchange rate for the dollar to naira in Lagos stood at N1280 for buying and N1300 for selling, according to sources at Bureau De Change (BDC)……READ ALSO Black Market Dollar To Naira (NGN) Exchange Rate For April 24th, 2024

It’s essential to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) for forex transactions. Individuals interested in forex dealings are directed to approach their respective banks.

Dollar to Naira Exchange Rates:

• Black Market (Aboki Dollar Rate):
  • Buying Rate: N1280
  • Selling Rate: N1300
• CBN Rate:
  • Buying Rate: N1277
  • Selling Rate: N1278

Please bear in mind that actual buying or selling rates may vary from those mentioned here due to market fluctuations.

Additionally, the Independent Petroleum Marketers Association of Nigeria (IPMAN) anticipates a further reduction in diesel prices to around N700 per litre following the recent reduction by the Dangote refinery. The National Vice President of IPMAN, Hammed Fashola, attributes this expectation to the improved exchange rate between the naira and the dollar, predicting continued downward pressure on diesel prices due to local production and reduced logistical challenges.

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