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Black market buying rate at N1,540, selling at N1,550
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CBN official rate stands at N1,529.76 per dollar
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Wide gap highlights forex supply crunch
The United States dollar exchanged at N1,550 on Nigeria’s parallel market on Friday, with Bureau De Change (BDC) operators quoting a buying rate of N1,540 and a selling price of N1,550 per dollar.
In contrast, the Central Bank of Nigeria (CBN) maintained an official rate of N1,529.76, reflecting the persistent gap between the official and black market rates.
For other major currencies in the parallel market:
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British Pound Sterling traded at N2,125 (buying) and N2,145 (selling).
Euro exchanged at N1,780 (buying) and N1,800 (selling).
Chinese Yuan recorded N213.87 (buying) and N214.01 (selling).
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At the CBN window, official rates were relatively lower:
Pound Sterling: N2,100.10 (buying), N2,101.46 (selling).
Euro: N1,790.76 (buying), N1,791.92 (selling).
Saudi Riyal: N410.25 (buying), N410.51 (selling).
Cryptocurrency Snapshot
Bitcoin (BTC) traded at ₦152.3M per BTC, while Ethereum (ETH) sold for ₦2.9M per ETH as of Friday.
