The dollar to naira exchange rate at the black market, also known as the parallel market (Aboki fx), has skyrocketed to N1600.
According to sources at Bureau De Change (BDC), the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1596 and sell at N1600 on Thursday 15th August 2024.
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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 other news, Nigeria’s inflation rate dropped to 33.40% in July 2024, according to the latest figures released on Thursday by the National Bureau of Statistics (NBS).
The rate dropped by 0.79% when compared to the 34.19% recorded in June 2024.
