See the black market Dollar to Naira exchange rate for 6th February, below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1490 and sell at N1500 on Tuesday 6th February 2024, according to sources at Bureau De Change (BDC).
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.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1490 |
| Selling Rate | N1500 |
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | 1417 |
| Selling Rate | 1418 |
The Nigerian foreign exchange market witnessed a substantial increase in transaction volume, with the total value soaring to $584 million, as reported by the FMDQ Exchange on Tuesday.
This marked a significant rise from the $440 million daily transactions previously seen on the Nigeria Autonomous Foreign Exchange Market (NAFEX), highlighting an enhanced liquidity in the official forex market.
This uptick in forex transactions occurs concurrently with a depreciation of the Nigerian Naira against the United States dollar.
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