Current Dollar To Naira Exchange Rate In The Parallel Market (Dec 8, 2024)

Current Dollar To Naira Exchange Rate In The Parallel Market (Dec 8, 2024)

The current exchange rate for the US dollar to the Nigerian naira in the black…READ MORE…

market (parallel market) is as follows:

• Buying rate: ₦1640
• Selling rate: ₦1650

This rate was observed on December 7, 2024, based on data from Bureau De Change (BDC) sources in Lagos.

For comparison, the Central Bank of Nigeria (CBN) rates are:

• Highest rate: ₦1610
• Lowest rate: ₦1565

Please note that these rates can vary, and the Central Bank does not endorse the black market for foreign exchange transactions, advising people to use authorized banks for Forex dealings.

Food Prices Drop in Akure Amid Festive Season

As the festive season approaches, residents of Akure, the capital of Ondo State, are experiencing a notable reduction in the prices of some food items. According to market surveys:

• The cost of a bag of garri has dropped from ₦55,000 to ₦35,000.
• A basket of tomatoes is now priced at ₦60,000, down from ₦80,000.
• The price of a 50kg bag of beans has significantly decreased from ₦250,000 to ₦130,000.
• Other items like spaghetti (₦23,000 from ₦35,000) and 50kg rice (₦90,000 from ₦93,000) have also seen price reductions.

However, not all commodities have followed this trend. The cost of palm oil has increased, with a 25-litre keg now priced at ₦54,000, up from ₦37,000. Similarly, rodo pepper has seen a sharp rise, going from ₦15,000 to ₦45,000.

Despite the price hikes in certain items, the overall reduction in food prices is seen as a positive development, especially as families prepare for the holiday season.

For More Information And News Update, Join Ireporteronline WhatsApp Channel With Link Below: https://whatsapp.com/channel/0029VaV4jB6DuMRgwqnJCF32 For advertisement inquiries only, kindly send a message to 09010649814 on Whatsapp