Black Market Dollar To Naira Exchange Rate Today, April 17th, 2024

The black market exchange rate for the Dollar to Naira on April 16th was as follows: Buyers purchased a dollar for N1050 and sold it for N1100, according to sources at Bureau De Change (BDC) in Lagos…….READ ALSO Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 16th April 2024

It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market) for forex transactions, directing individuals to approach their respective banks for foreign exchange transactions.

Here are the details of the exchange rates:

• Dollar to Naira (USD to NGN) Black Market Exchange Rate Today:
  • Buying Rate: N1050
  • Selling Rate: N1100
• Dollar to Naira (USD to NGN) CBN Rate Today:
  • Buying Rate: N1160
  • Selling Rate: N1161

Please be aware that actual rates for buying or selling forex may vary from those mentioned in this article due to market fluctuations.

In other news, Nigeria’s crude oil reserves have reportedly increased to 37.50 billion barrels as of January 1, 2024, up from 36.96 billion barrels recorded on January 1, 2023. Additionally, the country’s Natural Gas reserves have risen from 208.83 trillion Cubic Feet (TCF) to 209.26 TCF during the same period, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This development signifies the nation’s substantial hydrocarbon capacity and is viewed positively for Nigeria’s economic outlook.