As of today, the Dollar to Naira exchange rate in the black market, also known as the parallel market, stands at N1145 for buying and N1155 for selling, according to sources at Bureau De Change (BDC) on Thursday, 23rd November 2023.
Dollar to Naira Black Market Rate Today
- Buying Rate: N1145
- Selling Rate: N1155
Please be aware that the Central Bank of Nigeria (CBN) does not recognize the parallel market and advises individuals engaging in Forex transactions to approach their respective banks.
Dollar to Naira CBN Rate Today
- Buying Rate: 837
- Selling Rate: 838
It’s important to note that the rates for buying or selling forex may vary from those captured in this article as prices are subject to change.
In other economic developments, the National Bureau of Statistics (NBS) reports a significant increase in the average retail price of gasoline in Nigeria. From October 2022 to October 2023, the price of gasoline surged by 222.92%, with the average cost per liter rising from N195.29 to N630.63 in October 2023. The NBS indicates that the average retail price of gasoline rose by 0.71% in October compared to September 2023.
The country-wide price fluctuations reveal variations among states, with Zamfara having the highest average retail price at N659.38 per liter and Lagos, Oyo, and Delta paying the lowest average retail prices. In terms of zones, the North-East Zone recorded the highest average retail price at N644.16 per liter in October 2023, while the South-West Zone had the lowest at N616.81 per liter.
