Naira Exchange Rate In Black Market Today: Dollar To Naira – 30th May 2024

Naira Exchange Rate In Black Market Today: Dollar To Naira – 30th May 2024

See the black market Dollar to Naira exchange rate for 29th May below. You can swap your dollars for Naira at these rates………..CONTINUE READING

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Dollar to Naira Exchange Rate Today in the Black Market

Dollar to Naira (USD to NGN) Black Market Exchange Rate:

• Buying Rate: N1470
• Selling Rate: N1490

According to sources at Bureau De Change (BDC), players in the Lagos Parallel Market (Black Market) buy a dollar for N1470 and sell it for N1490 as of Wednesday, 29th May 2024.

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market). The CBN has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira CBN Rate Today

Please note that the rates you buy or sell forex may differ from what is captured in this article because prices vary.

Naira Appreciates to ₦1,500/$ in Parallel Market

Recent data from financial markets indicate that the Nigerian Naira appreciated significantly yesterday in both the parallel market and the Nigerian Autonomous Foreign Exchange Market (NAFEM).

In the parallel market, the Naira strengthened to ₦1,500 per US dollar, up from ₦1,525 on Monday. This improvement in value reflects a significant recovery, easing some of the pressures faced by forex traders and businesses reliant on dollar transactions.

Simultaneously, in the NAFEM, often referred to as the official market, the Naira saw a robust appreciation. Data from the FMDQ showed the indicative exchange rate for NAFEM dropped to ₦1,339.33 per dollar from a previous rate of ₦1,481.23, marking an appreciation of ₦141.9. This substantial gain underscores a positive shift in forex supply dynamics and investor confidence in the Nigerian economy

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Source: Bushradiogist