At the Lagos Parallel Market (Black Market), the exchange rate for the U.S. dollar to Nigerian naira is as follows:
- Buying Rate: ₦1665
- Selling Rate: ₦1680
According to sources at Bureau De Change (BDC), these rates reflect the ongoing trends in the informal forex market.
Central Bank of Nigeria (CBN) Rates
It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market. The CBN directs individuals wishing to engage in foreign exchange transactions to do so through licensed banks.
- CBN Highest Rate: ₦1559
- CBN Lowest Rate: ₦1545
Exchange rates can fluctuate, and individuals may encounter different buying and selling prices depending on the location or service provider. Always verify the current rates with authorized dealers.
