Dollar to naira exchange rate hits N1614 at parallel market
The US dollar to naira exchange rate at the black market now sells at N1614 naira in Lagos State.
The exchange rate for a dollar to naira, also known as the parallel market (Aboki fx), has been fluctuating in recent days.
The Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), hence directing individuals who want to engage in Forex to approach their respective banks.
However, the black market rate is widely used by many Nigerians who need to exchange dollars for naira.
According to sources at Bureau De Change (BDC), the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) stands at N1614 on Sunday, August 4, 2024.
READ ALSO: Naira strengthens in both official, parallel markets
Proofreading and editing by Gift Luckson and Hafsat Aleeyu Muye, Editor and Journalist at Neptune Prime
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