Black Market Dollar To Naira Exchange Rate For 30th November 2024

Black Market Dollar To Naira Exchange Rate For 30th November 2024As of 29th November 2024, the exchange rate for the Dollar to Naira at the Lagos Parallel Market (commonly known as the black market) is as follows:

•Buying Rate: ₦1,720

•Selling Rate: ₦1,735

This means that players in the black market are buying US dollars for ₦1,720 and selling them for ₦1,735, according to sources within the Bureau De Change (BDC).

Please note, the Central Bank of Nigeria (CBN) does not officially recognize the parallel market. The CBN has advised individuals who wish to exchange foreign currency to approach their respective banks for official rates.

Dollar to Naira Exchange Rate at the CBN (Official Rate) Today

•CBN Buying Rate: ₦1,662

•CBN Selling Rate: ₦1,663

Keep in mind that the rates provided here may vary, as exchange rates can fluctuate based on market conditions.

Food Price Surge in October 2024 – NBS Report

In related news, the National Bureau of Statistics (NBS) has reported a significant increase in food prices for October 2024. Notable price hikes were observed for staples like rice, beans, beef, and eggs. The NBS’s Selected Food Prices Watch report highlighted the following:

•Brown Beans: The price of 1 kg of brown beans surged by 254.23%, from ₦790.01 in October 2023 to ₦2,798.50 in October 2024. Month-on-month, the price increased by 2.19% from ₦2,738.59 in September 2024.

•Eggs: The price of medium-sized Agric eggs (12 pieces) also saw a sharp increase, rising by 140.21% year-on-year, from ₦1,112.22 in October 2023 to ₦2,671.60 in October 2024. Compared to September 2024, the price rose by 7.42%.

These sharp increases in food prices reflect ongoing inflationary pressures on the Nigerian economy.

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