Black Market (Parallel Market) Rate
As of Thursday, January 9, 2025, the exchange rate for the dollar to naira at the Lagos Parallel Market (Black Market) is as follows:
- Buying Rate: ₦1655
- Selling Rate: ₦1660
These rates are based on information from Bureau De Change (BDC) operators and may vary slightly depending on location and market dynamics.
Central Bank of Nigeria (CBN) Rate
The Central Bank of Nigeria’s official exchange rate for the dollar to naira is as follows:
- Highest Rate: ₦1545
- Lowest Rate: ₦1537
It is important to note that the Central Bank of Nigeria does not recognize the parallel market. The CBN advises individuals and businesses requiring foreign exchange to approach their respective banks for transactions.
Forex rates are highly volatile and can vary significantly depending on the market. The rates provided in this article are indicative and may not reflect the exact rates available to buyers or sellers at the time of transaction. Always verify with trusted sources or financial institutions before proceeding with currency exchange.
