Dollar to Naira Black Market Exchange Rate for May 2, 2024
Buying Rate: ₦1,330.00
Selling Rate: ₦1,360.00
The black market, also known as the parallel market, is an unofficial market where foreign exchange transactions occur outside of the official channels regulated by the Central Bank of Nigeria (CBN). Exchange rates in the black market can significantly differ from the official rates set by the CBN.
Black Market Exchange Table for May 2, 2024:
| Currency | Buying Rate (₦) | Selling Rate (₦) |
|—|—|—|
| 1 US Dollar ($1) | 1,330.00 | 1,360.00 |
| 5 US Dollars ($5) | 6,650.00 | 6,800.00 |
| 10 US Dollars ($10) | 13,300.00 | 13,600.00 |
| 20 US Dollars ($20) | 26,600.00 | 27,200.00 |
| 50 US Dollars ($50) | 66,500.00 | 68,000.00 |
| 100 US Dollars ($100) | 133,000.00 | 136,000.00 |
This indicates that on May 2, 2024, if you intend to purchase 1 US dollar in the black market, it will cost you ₦1,330.00. Conversely, if you sell 1 US dollar, you will receive ₦1,360.00. CONTINUE READING
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