The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1600 and sell at N1605 on Monday 5th August 2024, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
CBN Raises Import Duty Rate To ₦1,618.73/$
The Central Bank of Nigeria (CBN) has raised the exchange rate for cargo clearance at the nation’s seaports and airports from ₦1,600.32 to ₦1,618.732.
The Nigeria trade hub reported a rise of ₦18 in the exchange rate to the USD, reaching ₦1,618.732 from the previous rate of ₦1,600.32.
The naira’s depreciation occurred despite the CBN’s interventions to address liquidity issues in the official market through dollar sales.
