Naira To Dollar CBN Rate Today 24th July 2023
See the black market Dollar to Naira exchange rate for 23rd September, 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 N1660 and sell at N1665 on Monday 23rd September 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 | N1660 |
| Selling Rate | N1665 |
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1587 |
| Selling Rate | N1588 |
Nigeria’s foreign reserves have seen a net inflow of approximately $2.35 billion, strengthening the Central Bank’s reserves and contributing to stabilizing the naira.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during the Corporate Customers Forum held in Lagos on Thursday.
Edun explained that this net inflow has occurred consistently over the first seven months of the year, helping to boost Nigeria’s foreign exchange liquidity.
He went on to attribute the improvements in reserves and currency stability to the government’s proactive economic policies.
The minister also highlighted that Nigeria’s tax-to-GDP ratio remains low, at around 10%, while revenue-to-GDP stands at 15%, indicating that more efforts are required in these areas.
Edun called for increased spending on infrastructure and social safety nets to address these figures.
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