As of Tuesday, November 19, 2024, the exchange rate for the U.S. dollar (USD) to Nigerian naira (NGN) at the Lagos Parallel Market (commonly referred to as the Black Market) shows the following rates: the buying rate stands at N1,738, while the selling rate is N1,740. These rates were sourced from Bureau De Change (BDC) operators active in the parallel market.
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market. The CBN has consistently advised individuals seeking foreign exchange to approach their authorized banks rather than participating in the informal market.
Current Dollar to Naira Black Market Rates:
- Buying Rate: N1,738
- Selling Rate: N1,740
Dollar to Naira CBN Official Rates:
- Buying Rate: N1,674
- Selling Rate: N1,675
Please keep in mind that the rates at which you buy or sell foreign currency can vary from the figures presented here, as exchange rates fluctuate depending on market conditions and the particular location. Rates can also differ between various BDC operators and commercial banks.
