The black market exchange rate for the dollar to naira stands at N1675 for buying and N1680 for selling as of today, 7th October 2024. This is based on data from Lagos Bureau De Change sources. Meanwhile, the Central Bank of Nigeria’s (CBN) official rate remains lower, with a buying rate of N1656 and a selling rate of N1657. The CBN urges individuals to use formal banking channels for foreign exchange transactions, as it does not recognize the parallel market.
