Black Market Update: Dollar To Naira Exchange Rate On November 24, 2023

Explore the Black Market Dollar to Naira exchange rates for November 23rd below. These rates are applicable if you wish to convert your dollars to Naira…CONTINUE READING

Curious about today’s Dollar to Naira rate in the black market?

As of November 23, 2023, at the Lagos Parallel Market (Black Market), traders are purchasing a dollar for N1145 and selling it at N1155, according to information obtained from Bureau De Change (BDC) sources.

It’s essential to note that the Central Bank of Nigeria (CBN) does not acknowledge the parallel market (black market). Instead, the CBN advises individuals involved in Forex transactions to approach their respective banks.

Black Market Dollar to Naira Exchange Rate Today:

• Buying Rate: N1145
• Selling Rate: N1155

CBN Dollar to Naira Exchange Rate Today:

• Buying Rate: 837
• Selling Rate: 838

Keep in mind that the rates for buying or selling forex may differ from those outlined in this article due to market fluctuations.

In a related development, the National Bureau of Statistics (NBS) has reported an increase in the average retail prices of fuel and diesel across Nigeria. According to NBS data, from October 2022 to October 2023, the cost of gasoline surged by 222.92%.

The average price per liter of fuel witnessed a substantial rise, soaring from N195.29 in October 2022 to N630.63 in October 2023, as per NBS’s Petrol Price Watch for October 2023.

Furthermore, the NBS highlighted a 0.71% increase in the average retail price of gasoline in October compared to September 2023.

The upward price trend varied across regions, with Zamfara State recording the highest average retail price at N659.38 per liter, followed by Gombe and Borno at N658.33 and N657.27 per liter, respectively. In contrast, Lagos, Oyo, and Delta experienced comparatively lower average retail prices, with N590.95, N592.19, and N599.38 per liter, respectively.