Latest Black Market Dollar To Naira Exchange Rates: February 9, 2024

Latest Black Market Dollar To Naira Exchange Rates: February 9, 2024

Seeking to know the current black market exchange rate for dollars to naira? Here’s the update for today’s rates….READ MORE Breaking News: Black Market Dollar To Naira Exchange Rate Soars – Latest Update!

As of February 8th, 2024, the exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) stands at buying rate N1495 and selling rate N1500, as reported by sources at Bureau De Change (BDC).

It’s important to note that the Central Bank of Nigeria (CBN) does not endorse or recognize the parallel market (black market) for forex transactions. The CBN directs individuals seeking to engage in foreign exchange to approach their respective banks.

Here’s a summary of the exchange rates:

• Black Market (Aboki Dollar Rate):
  • Buying Rate: N1495
  • Selling Rate: N1500

For comparison, the CBN rates are as follows:

• CBN Buying Rate: N1444
• CBN Selling Rate: N1445

It’s crucial to remember that actual rates may differ from those mentioned here as prices are subject to variation.

In other news, Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, projects a drop in the country’s inflation rate from 28.92% to 21.4% in 2024. This optimistic forecast is attributed to the inflation-targeting policies of the federal government, alongside improvements in agricultural productivity and easing global supply chain pressures.