NewsRain Nigeria reports that the exchange rate between the naira and the US dollar today, 2 March 2024 on the black market, opened at an average of N1,600/$1.
This report is according to information gathered from black market FX operators. Specifically, the traders noted that they buy FX from customers at an average of N1,585/$1 and sell for N1,600/$1. However, they also added that in some cases the rate could vary depending on the form of transaction, cash, or transfer. that is to say, you are likely to get a higher rate if you have physical cash to exchange.
Black market dollar to naira exchange rate today
The local currency (abokiFx) opened at ₦1,600.00 per $1 at the parallel market otherwise known as the black market, today, Saturday, 2 March 2024, in Lagos Nigeria, after it closed at ₦1,585.00 per $1 on Friday, 1 March 2024.
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate of $1 ₦1,585
Selling Rate of $1 ₦1,600
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
CBN Official Naira to Foreign Exchange Rates
The official exchange rate of the US dollar to the Nigerian naira, as of today, 2 March 2024, is ₦1,582 per US dollar.
Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate of $1 ₦1,581
Selling Rate of $1 ₦1,582
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.
