Today’s Black Market Exchange Rate: Dollar To Naira (September 26, 2024)

Today’s Black Market Exchange Rate: Dollar To Naira (September 26, 2024)

If you’re looking to exchange dollars for naira in the black market, also referred to as the parallel market (Aboki fx), here are the latest rates for September 25, 2024…….CONTINUE READING 

**What is the Dollar to Naira Exchange Rate Today?**

In the Lagos parallel market, the exchange rate for a dollar is as follows:
– **Buying Rate:** N1690
– **Selling Rate:** N1705

These figures are sourced from various Bureau De Change (BDC) operators. It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market and advises individuals to transact Forex through their respective banks.

**Today’s Dollar to Naira Black Market Rates:**
– **Buying Rate:** N1690
– **Selling Rate:** N1705

**Dollar to Naira CBN Rates:**
– **CBN Buying Rate:** N1659
– **CBN Selling Rate:** N1660

Keep in mind that the actual rates you experience when buying or selling forex may vary from those listed here due to fluctuations in the market.

**Potential for Lower Petrol Prices with Government Intervention**

Experts from the petroleum industry believe that effective government intervention could lead to petrol prices from the Dangote Refinery falling below ₦600 per litre. The Crude Oil Refiners Association of Nigeria (CORAN) has expressed optimism that local refineries, including Dangote’s, can reduce fuel costs if proper measures are implemented. CORAN’s Publicity Secretary, Eche Idoko, noted that the current quoted price of ₦898 per litre from the Nigerian National Petroleum Company (NNPC) is largely influenced by the high exchange rate.