Dollar To Naira Black Market Rate Today, November 26, 2024

Dollar To Naira Black Market Rate Today, November 26, 2024The Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki fx), for November 25, 2024, has been reported as follows:
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•Buying Rate: N1752

•Selling Rate: N1755

These rates reflect the values at which players in the Lagos parallel market are buying and selling the US dollar. According to sources from Bureau De Change (BDC), the exchange rates fluctuate based on market dynamics.

It is important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market. The CBN directs individuals seeking to engage in foreign exchange transactions to approach licensed banks for official rates.

Official CBN Exchange Rate for Dollar to Naira Today:

•Buying Rate: N1664

•Selling Rate: N1665

Please keep in mind that the rates available in the black market may differ from those mentioned in this article as exchange rates are subject to change depending on various market factors.

Price of Kerosene Soars to ₦2,000 per Litre – NBS Report

The National Bureau of Statistics (NBS) has highlighted a significant increase in the price of kerosene, a development that further burdens Nigerian households grappling with rising living costs. According to the latest Price Watch report by the NBS, both the monthly and yearly prices for kerosene have seen sharp hikes, with the North Central region recording the highest retail prices.

In October 2024, the average retail price of Household Kerosene (HHK) reached ₦1,957.44 per litre, marking a 3.07% increase from ₦1,897.44 in September 2024. Compared to the previous year, the price has surged by 54.81% from ₦1,303.16 in October 2023.

The price per gallon also saw an increase of 1.94%, rising to ₦6,949.75 in October 2024, up from ₦6,818.11 in September. This represents a 51.68% rise from the ₦4,581.89 per gallon recorded in October 2023.

In terms of regional variation, Abuja reported the highest price per litre at ₦2,875.00, followed by Akwa Ibom at ₦2,518.89 and Kaduna at ₦2,500.79. These steep increases in fuel prices have put additional pressure on households across the country.

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