As of today, the dollar to naira exchange rate in the black market, also known as the parallel market, is as follows:
- Buying Rate: N1685 per dollar
- Selling Rate: N1695 per dollar
These rates are sourced from Bureau De Change (BDC) operators in Lagos on Thursday, 26th September 2024. It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market, advising individuals to approach banks for Forex transactions.
CBN Exchange Rate:
- Buying Rate: N1637 per dollar
- Selling Rate: N1638 per dollar
Rates may vary depending on location and provider.
Additionally, a report from the National Bureau of Statistics (NBS) highlights a significant rise in cooking gas prices. As of August 2024, the average cost for a 12.5kg LPG cylinder surged by 69.15% year-on-year, reaching ₦15,552.56. Rivers State recorded the highest price at ₦17,086.36.
