What is the current exchange rate for the Dollar to Naira on the black market, also known as the parallel market?
For today, 14th August 2024, the Dollar to Naira exchange rate at the Lagos Parallel Market (Black Market) is as follows:
- Buying Rate: ₦1,593 per dollar
- Selling Rate: ₦1,598 per dollar
These rates were sourced from Bureau De Change (BDC) operators on Tuesday, 13th August 2024.
It is important to note that the Central Bank of Nigeria (CBN) does not recognize the black market for foreign exchange transactions. The CBN advises individuals to conduct their forex transactions through their respective banks.
Official CBN Exchange Rate Today
- Buying Rate: ₦1,573 per dollar
- Selling Rate: ₦1,574 per dollar
Please be aware that the exchange rates can vary depending on the seller, and the rates mentioned in this article may differ from those you encounter.
Anticipated Petrol Price from Dangote Refinery
Meanwhile, independent petroleum marketers in Nigeria are speculating that petrol from the Dangote Petroleum Refinery may be sold at a price between ₦600 and ₦650 per litre when it enters the market. This follows the trend observed with diesel prices influenced by the refinery. However, the exact pricing will depend on production costs and market conditions.
