Black Market Dollar to Naira Exchange Rate: The Latest Update
Get the latest black market dollar to naira exchange rate for November 9th, 2024. This rate is available for those looking to exchange their dollars for naira.
What’s the Current Dollar to Naira Rate?
Black Market Dollar to Naira Exchange Rate
According to sources at Bureau De Change (BDC), the parallel market (black market) in Lagos is currently trading at a rate of N1740 per dollar for buying and N1745 per dollar for selling on November 9th, 2024.
It’s essential to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market, as it has directed individuals to approach their respective banks for foreign exchange transactions.
Black Market Dollar to Naira Rate
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate |
| Buying Rate | N1740 |
| Selling Rate | N1745 |
CBN Dollar to Naira Rate
| Dollar to Naira (USD to NGN) | CBN Rate |
| Buying Rate | N1664 |
| Selling Rate | N1665 |
Important Note
Keep in mind that the rates you buy or sell foreign exchange may vary, as prices can fluctuate.
The Nigerian Coalition of Civil Society Organizations (NICOCSO) has called on the government to investigate a reported group allegedly undermining local refineries and advocating for the importation of Premium Motor Spirit (PMS).
NICOCSO claims that the group’s activities could lead to economic instability in Nigeria.
The group’s actions are said to be depleting Nigeria’s resources, weakening the naira, and jeopardizing local businesses.
Naijawebinfo reports that the ongoing dependence on PMS imports limits job creation and obstructs the growth potential of the refining sector.
During a press conference in Abuja, NICOCSO Executive Solomon Chinemerem demanded a thorough investigation into the group’s operations and advocated for a policy that requires the sale of Nigerian crude oil to local refineries in naira.
