Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate

Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate

As of Tuesday, January 7, 2025, the exchange rate between the US dollar and the Nigerian naira in the Lagos Parallel Market (commonly referred to as the black market) shows that traders are buying dollars at ₦1,661 and selling at ₦1,665. These rates are sourced from Bureau De Change (BDC) operators.

It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market. The CBN advises individuals and businesses seeking foreign exchange (forex) to approach licensed financial institutions or their respective banks for official rates and transactions.

Black Market Exchange Rate (Dollar to Naira)

  • Buying Rate: ₦1,661
  • Selling Rate: ₦1,665

CBN Official Exchange Rate (Dollar to Naira)

  • Highest Rate: ₦1,543
  • Lowest Rate: ₦1,531

Exchange rates may vary depending on the source and location of transactions. Prices stated in this article may differ from the actual rates available at the time of purchase or sale. For accurate and reliable forex rates, it is recommended to confirm directly with licensed forex dealers or financial institutions.

This information serves as a guide and reflects the prevailing market trends as of the stated date.

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