As of Friday, November 29, 2024, the
exchange rate for the US dollar to Nigerian naira in the Lagos Parallel Market (also known as the black market) is as follows:
- Buying Rate: N1720
- Selling Rate: N1735
Sources from Bureau De Change (BDC) operators confirmed these rates.
For comparison, the Central Bank of Nigeria (CBN) official rate is:
- Buying Rate: N1662
- Selling Rate: N1663
It is important to note that the Central Bank of Nigeria does not recognize the parallel market, and encourages individuals who wish to engage in foreign exchange (Forex) transactions to do so through their banks. Additionally, the rates may vary based on market conditions, so actual buying and selling prices could differ from those listed here.
