How much is a dollar to naira today in the black market?
In the dynamic world of currency exchange, knowing the latest Dollar to Naira exchange rate is crucial for both individuals and businesses. On Thursday, August 3, 2023, the black market (also referred to as the parallel market) recorded the following rates:
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N860 |
| Selling Rate | N875 |
It’s important to understand that these rates are observed at the Lagos Parallel Market, a segment not officially recognized by the Central Bank of Nigeria (CBN). The CBN advises those interested in Forex transactions to approach their respective banks, as the official channels for currency exchange.
While the black market exchange rate can provide a glimpse into the informal currency trading landscape, it’s essential to consider the CBN’s guidelines and recommendations for more secure and regulated transactions.
Stay informed about currency fluctuations to make informed decisions for your financial needs. For the latest updates on the Dollar to Naira exchange rate and other financial news, keep an eye on reliable sources and official channels. Remember, knowledge is key when navigating the intricate world of foreign exchange.
