Today’s Black Market Dollar (USD) To Naira (NGN) Exchange Rate: September 24, 2024

Today’s Black Market Dollar (USD) To Naira (NGN) Exchange Rate: September 24, 2024....KINDLY READ THE FULL STORY HERE▶

What is the dollar to naira exchange rate on the black market, also known as the parallel market (Aboki fx)? Below are the rates for September 23. You can exchange your dollars for naira at these rates…….CONTINUE READING 

**Black Market Dollar to Naira Exchange Rate Today**

As of September 23, 2024, the exchange rate at the Lagos Parallel Market (black market) is as follows:
– **Buying Rate:** N1660
– **Selling Rate:** N1665

It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market and has advised individuals seeking to engage in foreign exchange to go through their respective banks.

**CBN Dollar to Naira Rate Today**

– **CBN Buying Rate:** N1587
– **CBN Selling Rate:** N1588

Please be aware that the rates for buying or selling forex may vary from those listed here, as prices can fluctuate.

In related news, Nigeria’s foreign reserves have increased by approximately $2.35 billion, enhancing the Central Bank’s reserves and contributing to naira stability. This information was shared by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, during the Corporate Customers Forum in Lagos on Thursday.

Edun noted that this net inflow has been consistent over the first seven months of the year, improving Nigeria’s foreign exchange liquidity. He attributed the enhancements in reserves and currency stability to proactive government economic policies.

However, he also pointed out that Nigeria’s tax-to-GDP ratio remains low at about 10%, while revenue-to-GDP stands at 15%, indicating a need for further improvements in these areas. The minister emphasized the necessity for increased investment in infrastructure and social safety nets to address these challenges.