Naira Crisis: Black Market Dollar Rate Breaks New Records On Christmas Day

Naira Crisis: Black Market Dollar Rate Breaks New Records On Christmas Day

As of December 25, 2024, the dollar-to-naira exchange rate in the parallel (black) market has seen fluctuations, with the Nigerian naira continuing its struggles against the…Naira Crisis: Black Market Dollar Rate Breaks New Records On Christmas Day

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According to sources from Bureau De Change (BDC) operators in Lagos, the exchange rate stands as follows:

• Buying Rate: N1660 per USD
• Selling Rate: N1670 per USD

It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market rates. The CBN has urged individuals seeking to exchange currencies to use official banking channels.

For reference, the CBN rates on December 25, 2024, were:

• Highest Rate: N1545 per USD
• Lowest Rate: N1532 per USD

Please be aware that the rates provided in this article may vary slightly depending on the location and time of exchange.

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