Today’s Black Market Dollar To Naira Exchange Rate (16th July 2024)

Today’s Black Market Dollar To Naira Exchange Rate (16th July 2024)

Check the current black market exchange rates for dollar to naira below. You can exchange your dollars at these rates……… CONTINUE READING

**How much is a dollar to naira today in the black market?**

As of Monday, July 15, 2024, the exchange rate for dollar to naira in the Lagos parallel market shows that players are buying dollars at **N1560** and selling at **N1565**, according to sources from Bureau De Change (BDC).

**Important Note:** The Central Bank of Nigeria (CBN) does not recognize the parallel market and advises individuals to engage in foreign exchange transactions through their banks.

### Dollar to Naira Black Market Rate Today

| **Dollar to Naira (USD to NGN)** | **Black Market Exchange Rate** |
|———————————–|———————————-|
| Buying Rate | N1560 |
| Selling Rate | N1565 |

### Dollar to Naira CBN Rate Today

| **Dollar to Naira (USD to NGN)** | **CBN Rate** |
|———————————–|———————————-|
| Buying Rate | N1565 |
| Selling Rate | N1566 |

Please note that actual rates may vary from those mentioned here due to market fluctuations.

—

### Addressing Economic Challenges – Moghalu to Tinubu

Former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has urged President Bola Tinubu’s administration to tackle structural bottlenecks hindering the country’s economic growth.

Moghalu emphasized that the growth in Nigeria’s financial sector has not translated into broader economic development. He called for increased private sector credit to stimulate production and drive economic progress.

He pointed out that key structural issues, such as electricity supply, inflation, and monetary policy, need to be addressed to enhance the economy’s performance. He noted that despite the financial sector’s growth, the ratio of credit to GDP remains low at only 14%.

Moghalu stressed that overcoming these challenges is vital for economic management and inclusive growth. He highlighted the importance of addressing security concerns that adversely affect the business environment and limit SMEs’ access to credit.

“Without tackling these structural issues, inclusive economic growth will remain unattainable,” Moghalu stated on X on Monday.