Current Black Market Dollar To Naira (NGN) Exchange Rate – 18th March 2024

Current Black Market Dollar To Naira (NGN) Exchange Rate – 18th March 2024

The black market dollar to naira exchange rate for today, 18th March 2024, remains a topic of interest for many, especially those involved in foreign currency transactions. Here’s an update on the exchange rate:……READ ALSO Black Market Dollar To Naira Exchange Rate Today: 17th March 2024

Black Market Exchange Rate Today:

• Buying Rate: N1595
• Selling Rate: N1608

It’s important to note that these rates are sourced from the Lagos Parallel Market, where players buy a dollar for N1595 and sell at N1608. These figures are based on information obtained from Bureau De Change (BDC) sources.

However, it’s essential to emphasize that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market). The CBN has directed individuals interested in foreign exchange transactions to approach their respective banks.

Dollar to Naira CBN Rate Today:

• Buying Rate: 1610
• Selling Rate: 1611

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

Despite recent interventions by the Central Bank aimed at stabilizing the Naira against major foreign currencies, including the US dollar, fluctuations persist. These interventions, such as the sale of dollars to Bureau de Change (BDC) operators, have led to a marginal appreciation of the Naira, providing some stability in the forex market.

The revocation of licenses for thousands of BDC operators was among the drastic measures implemented to bolster the Naira. These efforts have contributed to the currency’s appreciation to around N1,590 against the dollar in the parallel market, offering some relief to forex users and traders alike.

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