Black Market Dollar to Naira Exchange Rate: What You Need to Know
Check out the latest black market dollar to naira exchange rate for November 29th, 2024. You can exchange your dollars for naira at these rates.
What’s the Current Dollar to Naira Rate?
Black Market Dollar to Naira Exchange Rate: November 29th, 2024
According to sources at Bureau De Change (BDC), the parallel market (black market) rates for a dollar to naira are as follows: Lagos-based players buy a dollar for N1720 and sell at N1735 on November 29th, 2024.
It’s essential to 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 foreign exchange transactions to approach their respective banks.
Black Market Dollar to Naira Exchange Rate
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate |
| Buying Rate | N1720 |
| Selling Rate | N1735 |
CBN Dollar to Naira Exchange Rate
| Dollar to Naira (USD to NGN) | CBN Rate |
| Buying Rate | N1662 |
| Selling Rate | N1663 |
Important Note
The rates you buy or sell foreign exchange may vary from what is listed here, as prices can fluctuate.
The National Bureau of Statistics (NBS) has recently reported a significant increase in food prices in October 2024, particularly for essential items like beans, eggs, bread, and rice.
This information was revealed in the NBS’s Selected Food Prices Watch report for October 2024, which was released in Abuja on Tuesday.
According to the report, the price of 1 kg of brown beans skyrocketed by 254.23% from ₦790.01 in October 2023 to ₦2,798.50 in October 2024. On a month-on-month comparison, the price rose by 2.19% from ₦2,738.59 in September 2024.
The average price of medium-sized Agric eggs (12 pieces) also saw a substantial year-on-year increase of 140.21%, climbing from ₦1,112.22 in October 2023 to ₦2,671.60 in October 2024. From September 2024, the price rose by 7.42%.
