As of July 11, 2024, the dollar exchange rate in the black market, also known as the parallel market, stood at N1555 for buying and N1565 for selling, according to sources at Bureau De Change (BDC).
This fluctuation may impact individuals seeking to exchange dollars for naira.
The Central Bank of Nigeria (CBN) has directed individuals seeking to engage in Forex transactions to approach their respective banks, as it does not recognize the parallel market. However, the black market remains a popular destination for many Nigerians.
Here are the current exchange rates:
– Black Market Rate (July 11, 2024)
– Buying Rate: N1555
– Selling Rate: N1565
– CBN Rate (July 11, 2024)
– Buying Rate: N1520
– Selling Rate: N1521
Please note that Forex prices can vary depending on location and time of exchange, and may differ from the rates captured in this article.
