Dollar To Naira Exchange Rate Hits N1610 At Black Market

The dollar to naira exchange rate has hit N1610 at the black market, also known as the parallel market (Aboki fx), as of Friday, 2nd August 2024.

According to sources at Bureau De Change (BDC), the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) is N1600 for buying and N1610 for selling.

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.

In another development, the National Bureau of Statistics (NBS) has reported that Nigerians spent ₦1,241 to afford one healthy square meal in June, which is a 19.2% increase from May.

The Cost of a Healthy Diet (CoHD) report for June showed that the cost of a healthy meal varied across regions, with Nigerians in the South West spending ₦1,545 and those in the North East spending ₦956.