Dollar To Naira Exchange Rate In The Black Market On 9th December 2024

Dollar To Naira Exchange Rate In The Black Market On 9th December 2024The exchange rate for the US dollar to the Nigerian naira in the black market, also known as the parallel market (Aboki fx), has been reported as follows for 8th December 2024:....KINDLY READ THE FULL STORY HERE▶

•Buying Rate: N1595

•Selling Rate: N1600

According to Bureau De Change (BDC) sources, individuals in Lagos were buying a dollar for N1595 and selling it for N1600. Please note that these rates are subject to fluctuation based on market conditions.

It is important to remember that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market, and it has advised individuals seeking to exchange foreign currency to do so through authorized banks.

CBN Dollar to Naira Exchange Rate Today

The Central Bank of Nigeria’s official exchange rates for the dollar to naira are as follows:

•Highest Rate: N1610

•Lowest Rate: N1565

As with the black market rates, the exchange rates may differ depending on where the transaction takes place, and market dynamics can lead to variations in the actual rates individuals receive when buying or selling foreign currency.

Oil Marketers Update on Dangote Refinery and Petrol Pricing

In other news, discussions between the Dangote Petroleum Refinery and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have gained momentum as both parties work towards finalizing agreements on the distribution of petroleum products.

On Monday, PETROAN’s National President, Dr. Billy Gillis-Harry, led the association in negotiations with the Dangote Refinery in Lagos. The $20 billion refinery, with a capacity of 650,000 barrels per day, has also attracted commitments from the Major Energy Marketers Association of Nigeria (MEMAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN).

However, Dr. Gillis-Harry clarified in a phone interview with Sunday Vanguard that lifting operations will not commence immediately, as key issues such as pricing, volumes, and logistics are still under negotiation.

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