Latest Update: Black Market Dollar To Naira Exchange Rate On January 6th, 2024

Explore the black market exchange rates for the Dollar to Naira on January 5th below, enabling you to exchange your dollars for Naira at these rates…CONTINUE READING

In the Lagos Parallel Market (Black Market), traders are reported to buy a dollar at N1235 and sell it at N1245 on Friday, January 5th, 2024, as indicated by sources at the Bureau De Change (BDC).

It’s essential to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market) and directs individuals seeking Forex transactions to approach their respective banks.

Dollar to Naira Black Market Rate Today

• Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
• Buying Rate: N1235
• Selling Rate: N1245

Dollar to Naira CBN Rate Today

• Dollar to Naira (USD to NGN) CBN Rate Today
• Buying Rate: 913
• Selling Rate: 914

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

On January 4th, Nigeria’s currency, the Naira, experienced a further devaluation against the United States Dollar in the parallel market. The Naira fell to N1,240 per US Dollar from the previous day’s N1,235 per dollar.

However, in the Nigerian Foreign Exchange Market (NAFEM), the Naira appreciated to N895.23 against the US Dollar. This led to an increased gap between the official and parallel market exchange rates, reaching N344.77 per dollar on January 5th, up from N199.88 per dollar on Wednesday.

Data from FMDQ revealed that the indicative exchange rate for NAFEM declined to N895.23 per dollar from N1,035.12 per dollar on Wednesday, marking a significant N139.77 appreciation for the Naira.