According to information gathered from black market foreign exchange (FX) operators, the exchange rate for the US dollar to naira is as follows:
Lagos Parallel Market Rates:
* Buying Rate: N1260/$1
* Selling Rate: N1275/$1
Exchange Rate Information:
* The black market exchange rate may vary depending on the transaction type (cash or transfer).
* Transactions involving physical cash typically yield higher rates.
Note:
The Central Bank of Nigeria (CBN) does not recognize the black market exchange rate. The CBN directs individuals seeking foreign exchange to approach their banks, as the Interbank Foreign Exchange (I&E) window is the only authorized exchange platform. CONTINUE READING
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