(USD) Dollar To Naira (NGN) Black Market Exchange Rate Today 20 August 2024
Based on yesterday’s news, the dollar-to-naira rate is still high, even though the CBN is working hard to bring the naira’s value back up. Keep in mind that the CBN does not recognize the “Black Market” as a real market.
As ordered by the CBN, Forex traders still deal with their own banks to help bring the value of the naira back up. As required by the CBN, Bureau De Change owners still keep 1.5% of the money made from sales.
The exchange rate for the dollar to the naira on Monday, August 20, 2024, through the Lagos Parallel market was found to be 1,600 to 1,605.
How much is dollar to naira in the black Market today?
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| USD | ₦1,600.00 | ₦1,605.00 |
In spite of yesterday’s reports and the effect, the inflation rate remains at its highest level, as merchandisers continue to accumulate their purported bargains in the market chart.
They have yet to fulfill their stock expenditure, which has resulted in the destruction of high-priced items.
