Latest Update: Black Market Dollar To Naira Exchange Rate For November 10th, 2023

Discover the unofficial Dollar to Naira exchange rates as of November 9th, 2023, in the Lagos Parallel Market (Black Market)…CONTINUE READING

Traders are currently acquiring a dollar for N1140 and selling at N1150, as reported by Bureau De Change (BDC) sources.

It’s essential to acknowledge that the Central Bank of Nigeria (CBN) does not endorse the black market, directing those involved in Forex transactions to approach their respective banks.

Dollar to Naira Black Market Rates Today:

• Buying Rate: N1140
• Selling Rate: N1150

Additionally, contrast these black market rates with the official CBN rates, where the buying rate is N858, and the selling rate is N859.

It’s crucial to recognize that individual Forex rates may deviate from those outlined in this report due to market fluctuations.

In a concerning development, the Naira has experienced further devaluation against the US Dollar, according to reports.

Official FMDQ market data indicates that on November 8th, the Naira traded at N874.71 per US Dollar, marking a significant decline from the previous day’s rate of N809.2 per US Dollar.

In the parallel market, the Naira was observed to have traded at N1,110 per US Dollar on Wednesday, slightly exceeding the previous day’s rate of N1,100.

Dayyau Mistila, an operator at a Bureau de Change in Zone 4 Abuja, shared insights with journalists, revealing that Nigerians purchased Dollars at a rate of N1,100 on Wednesday.