How much is the dollar worth in naira today in the black market?
As of Tuesday, July 16, 2024, the exchange rate at the Lagos Parallel Market (Black Market) is that players are buying a dollar for ₦1,570 and selling it for ₦1,585, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (black market). It has directed individuals seeking foreign exchange to use their respective banks.
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Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1570 |
| Selling Rate | N1585 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1565 |
| Selling Rate | N1566 |
Please be aware that the exchange rates for buying or selling forex may differ from those mentioned in this article due to fluctuations in prices.
Nigeria’s Inflation Rate Reaches 34.19% Amid Rising Food Costs
Recent data from the National Bureau of Statistics (NBS) shows that Nigeria’s inflation rate has reached a new high of 34.19% for June 2024.
This increase is occurring alongside a surge in food prices nationwide, making essential goods unaffordable for many.
The latest figures represent a 0.24 percentage point increase from the inflation rate reported for May 2024.
The NBS reports that year-on-year headline inflation rose in June 2024 compared to the same month last year.
Additionally, on a month-to-month basis, the headline inflation rate for June 2024 was 2.31%, up 0.17 percentage points from the 2.14% recorded in May 2024.
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