Dollar To Naira Black Market Exchange Rate For August 19, 2024

Dollar To Naira Black Market Exchange Rate For August 19, 2024

As of August 18, 2024, the black market exchange rate for the Dollar to Naira is as follows: In Lagos, the parallel market (also known as Aboki FX) reports a buying rate of ₦1605 and a selling rate of ₦1610 for the Dollar, according to Bureau De Change (BDC) sources…… CONTINUE READING 

It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market. The CBN advises individuals seeking foreign exchange to use their respective banks.

**Current Black Market Exchange Rates:**

– **Buying Rate:** ₦1605

– **Selling Rate:** ₦1610

**CBN Official Rates:**

– **Buying Rate:** ₦1584

– **Selling Rate:** ₦1585

Exchange rates may vary from the figures mentioned here due to fluctuations in the market.

**Recent Trends in Food Prices**

In related news, Nigeria’s food inflation rate has decreased to 39.53% in July 2024, down from 40.87% in June 2024. The National Bureau of Statistics (NBS) highlights that prices for food items such as Garri, Akpu (fufu), and milk have dropped. On a month-on-month basis, food inflation fell by 0.08%, from 2.55% in June to 2.47% in July 2024.

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