Black Market Dollar To Naira Exchange Rate Today Monday 15th July 2024

Black Market Dollar To Naira Exchange Rate Today Monday 15th July 2024 Can Be Accessed Below.

IMPORTANT NOTE: The exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. It means that…you can buy or sell 1 dollar at a certain rate and the price can change (high or low) within hours.

NewsRain Nigeria has obtained the official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates.

Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market. As of now, you can purchase 1 dollar at a certain rate now, however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within hours.

What is the dollar to naira exchange rate today?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1570 and sell at N1575 on Sunday 14th July 2024, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Buying Rate	N1570
Selling Rate	N1575

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	CBN Rate Today
Buying Rate	N1559
Selling Rate	N1560

How does the black market dollar-to-naira exchange rate compare to the official rate?

NewsRain Nigeria reports that the naira has suffered a significant depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, falling to N1,561.98/$1 on Wednesday, July 10, 2024.

According to data from the FMDQ Securities Exchange, the naira depreciated by 2% from N1,532.58/$1 recorded the previous day.

This is the third consecutive deprecation amid stronger external reserves and rising foreign exchange (FX) turnover.

It is also the lowest level since March 18, 2024, when it was N1,597.25/$1, as the naira nears N1,600 less than three weeks after it crossed the N1,500 ceiling.

The difference between the black market rate and the official rate is called the parallel market premium. The parallel market premium indicates the degree of divergence between the official and unofficial markets and reflects the level of confidence in the naira and the CBN’s policies.

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Disclaimer: NEWSRAIN NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.