Parallel Market Exchange Rate: What’s the Dollar Worth in Naira Today?
Get the latest black market dollar to naira exchange rate for October 26th, 2024. You can convert your dollar to naira at these rates.
Dollar to Naira Rates in the Black Market
Current Exchange Rates in the Lagos Parallel Market
As of Saturday, October 26th, 2024, the Bureau De Change (BDC) reports that one dollar can be bought for N1720 and sold for N1735 in the parallel market, also known as the black market.
Remember that the Central Bank of Nigeria (CBN) does not recognize the parallel market, as it has advised individuals seeking to engage in foreign exchange to approach their respective banks.
Black Market Exchange Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1720 |
| Selling Rate | N1735 |
CBN Official Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1634 |
| Selling Rate | N1635 |
Important Note:
Keep in mind that the rates you use to buy or sell forex may be different from those listed here, as prices can vary.
The Nigerian National Petroleum Company Limited (NNPCL) is taking steps to address its outstanding debt of $6 billion.
The Ministry of Finance has confirmed this development.
Nigeria’s Minister of Finance and Coordinating Minister for the Economy, Wale Edun, mentioned this during a meeting with investors in Washington, DC, noting that the NNPCL has started the process to repay the $6 billion it owes to its suppliers.
The NNPCL has acknowledged facing financial challenges due to the expenses associated with maintaining supply and its liabilities to oil suppliers, which exceed $6 billion.
