Today’s black market exchange rate for the dollar to naira stands at N1720 for buying and N1735 for selling, as reported by Bureau De Change (BDC) sources. While these are the prevailing rates at the Lagos parallel market, it is important to note that the Central Bank of Nigeria (CBN) does not endorse these rates and encourages citizens to approach banks for official Forex transactions.
The CBN’s official rate today differs, with a dollar buying rate of N1634 and a selling rate of N1635. Exchange rates may vary slightly based on location and demand, so check with local sources if you’re engaging in Forex transactions.
In related financial news, the Nigerian National Petroleum Company Limited (NNPCL) has begun repaying its $6 billion debt, as confirmed by Finance Minister Wale Edun during a recent meeting in Washington, DC.
