Current Black Market Exchange Rates: Dollar To Naira On December 31, 2023

Check out the Dollar to Naira exchange rates on December 31st in the black market below. If you wish to exchange your dollars for Naira, these are the prevailing rates…CONTINUE READING

On Sunday, December 31, 2023, at the Lagos Parallel Market (Black Market), sources from Bureau De Change (BDC) indicate that players buy a dollar for N1210 and sell at N1220.

It is important to note that the Central Bank of Nigeria (CBN) does not acknowledge the parallel market (black market), and individuals seeking to engage in Forex are directed to approach their respective banks.

Black Market Exchange Rate for Dollar to Naira (USD to NGN) on December 31, 2023:

• Buying Rate: N1210
• Selling Rate: N1220

CBN Rate for Dollar to Naira (USD to NGN) on December 31, 2023:

• Buying Rate: 898
• Selling Rate: 899

In economic news, the National Bureau of Statistics (NBS) reported on Friday that the average prices of certain food items surged in November.

According to the data, the average cost of one kilogram of brown beans increased by 6.18% from N790.01 in October 2023. On an annual basis, the item witnessed a significant rise of 44.99%, moving from N578.55 in November 2022 to N838.85 in November 2023.

Additionally, the average price of a 1 kg onion bulb surged by 60.62% year over year, escalating from N425.71 in November 2022 to N683.78 in November 2023. The average price of a 1-kilogram tomato also witnessed a year-over-year increase of 66.69% and a monthly rise of 12.24%, moving from N675.91 in October 2023 to N758.65 in November 2023.