As of Thursday, November 21, 2024, the exchange rate for the U.S. Dollar (USD) to Nigerian Naira (NGN) in the Lagos parallel market (also known as the black market) sees the buying rate at N1745 per dollar, with the selling rate standing at N1755. These rates are according to sources within the Bureau De Change (BDC) community.
It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market for foreign exchange transactions. The CBN has consistently directed individuals looking to exchange currencies to approach licensed banks for official transactions.
Here’s a breakdown of today’s exchange rates:
Dollar to Naira Black Market Rate:
- Buying Rate: N1745
- Selling Rate: N1755
Dollar to Naira CBN Official Rate:
- Buying Rate: N1687
- Selling Rate: N1688
It’s worth mentioning that actual exchange rates may differ from those quoted here, as rates fluctuate based on market conditions. Therefore, the rates you encounter when buying or selling foreign currency could vary depending on where and when the transaction takes place. Always check with the specific financial institution or exchange bureau for the most current rates.
