Black Market Exchange Rate For USD To NGN On December 8th, 2024″

What is the Dollar to Naira Exchange Rate in the Black Market (Parallel Market)?....KINDLY READ THE FULL STORY HERE▶

Check out the black market exchange rate for the Dollar to Naira as of December 7th below. This is the current rate at which you can exchange your dollars for Naira.

Current Dollar to Naira Exchange Rate in the Black Market:

• Buying Rate: ₦1640
• Selling Rate: ₦1650 (These rates are based on information from Bureau De Change (BDC) sources for Saturday, December 7, 2024.)

Note: The Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has instructed individuals wishing to trade in foreign exchange to go through official banks.

CBN Exchange Rate for Dollar to Naira Today:

• Highest Rate: ₦1610
• Lowest Rate: ₦1565

Please be aware that the exchange rates for buying and selling may differ from those presented here, as market prices fluctuate.

Food Prices See Decline in Akure

Residents of Akure, Ondo State’s capital, are experiencing a drop in food prices as the festive season approaches. A market survey by The Nation revealed significant price reductions:

• A bag of garri has decreased from ₦55,000 to ₦35,000.
• A basket of tomatoes now costs ₦60,000, down from ₦80,000.
• The price of a 50kg bag of beans has dropped from ₦250,000 to ₦130,000.
• Other items such as spaghetti and rice have also seen price reductions, with a carton of spaghetti now costing ₦23,000 (down from ₦35,000), and a 50kg bag of rice now priced at ₦90,000 (down from ₦93,000).

However, some items have seen price increases, such as palm oil, with a 25-litre keg rising from ₦37,000 to ₦54,000, and rodo pepper soaring from ₦15,000 to ₦45,000.

Despite these price hikes, the overall reduction in food prices offers some relief to families as they prepare for the holidays.