August 7, 2024: Black Market Dollar To Naira Exchange Rate

August 7, 2024: Black Market Dollar To Naira Exchange Rate....KINDLY READ THE FULL STORY HERE▶

As of August 6, 2024, the exchange rate for the dollar to naira in the black market, also known as the parallel market or Aboki FX, is as follows:

– **Buying Rate:** ₦1600
– **Selling Rate:** ₦1607

Sources from Bureau De Change (BDC) confirm these rates for Lagos. Please note that the Central Bank of Nigeria (CBN) does not endorse or regulate the parallel market and advises individuals to conduct Forex transactions through their banks……. CONTINUE READING

**Official Market Update**

In contrast, the Nigerian naira showed some improvement in the official market. The current trading rate is ₦1,607.15 per US dollar, reflecting a ₦9.93 appreciation from the previous rate of ₦1,617.08 on August 2, 2024. This represents a 0.61% gain.

However, total daily turnover in the official market has decreased to $77.09 million, down from $131.55 million on August 2. In the Investor’s and Exporter’s (I&E) window, the naira’s value ranged between ₦1,620.50 and ₦1,570.00 against the dollar.

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