Dollar to Naira Exchange Rate Today
The black market exchange rate for the Dollar to Naira (USD to NGN) continues to rise, with Lagos Parallel Market (Black Market) traders buying at ₦1602 and selling at ₦1605 as of Saturday, 17th August 2024, according to sources at the Bureau De Change (BDC).
Please note, the Central Bank of Nigeria (CBN) does not recognize the parallel market and advises individuals to engage in Forex transactions through their banks.
| Dollar to Naira (USD to NGN) | Black Market Rate |
|---|---|
| Buying Rate | ₦1602 |
| Selling Rate | ₦1605 |
CBN Exchange Rate
The official CBN exchange rate differs slightly, with the buying rate at ₦1584 and the selling rate at ₦1585.
| Dollar to Naira (USD to NGN) | CBN Rate |
|---|---|
| Buying Rate | ₦1584 |
| Selling Rate | ₦1585 |
Nigeria’s Least Expensive States Revealed
The National Bureau of Statistics (NBS) has identified Benue, Delta, and Borno as the cheapest states to live in Nigeria, according to the July Consumer Price Index and Inflation Data.
Benue recorded the lowest headline inflation at 27.28% year-on-year, followed by Delta at 28.06%, and Borno at 28.33%. On a month-on-month basis, Taraba (0.17%), Kwara (0.62%), and Ondo (0.91%) had the slowest inflation rates. Conversely, Abuja (3.91%), Borno (3.84%), and Enugu (3.76%) recorded the highest increases.
