Black Market Exchange Rate Of Dollar (USD) To Naira (NGN) Today: July 20th, 2024

Black Market Exchange Rate Of Dollar (USD) To Naira (NGN) Today: July 20th, 2024....KINDLY READ THE FULL STORY HERE▶

The black market exchange rate for the dollar to Naira on July 19th, 2024, shows that individuals can exchange dollars for Naira at competitive rates. In Lagos Parallel Market (Black Market), the buying rate stands at N1560 per dollar, while the selling rate is N1580 per dollar, according to sources from Bureau De Change (BDC)……. CONTINUE READING 

It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the black market and advises individuals to conduct foreign exchange transactions through authorized banks.

For the official CBN rates on July 19th, 2024, the buying rate for the dollar was N1584, and the selling rate was N1585.

Please be aware that actual forex buying and selling rates may differ from those reported here due to market fluctuations.

In other economic news, the average price of Premium Motor Spirit (petrol) increased year-on-year by 37.44%, reaching ₦750.17 per litre in June 2024. This represents a slight decrease of 2.53% from the previous month’s average of ₦769.62 per litre in May 2024. The rise in petrol prices is influenced by global oil price fluctuations, currency exchange rate changes, and adjustments in government policies concerning fuel subsidies.

According to the Nigerian National Petroleum Corporation (NNPC), Benue State had the highest petrol price at ₦864.55 per litre in June 2024, while Lagos, Kwara, and Ogun States recorded the lowest prices at ₦626.94, ₦650.00, and ₦670.63 per litre, respectively.

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