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Naira to Dollar Exchange Rate in Nigeria’s Parallel Market

by Vicky Oselumese
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Naira to Dollar Exchange Rate in Nigeria's Parallel Market

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According to the latest data, the exchange rate for the Naira to Dollar in Nigeria’s parallel market ranged between N1380 and N1410, with an average of N1,400.00 yesterday.

This information is based on three sell rates. Over the past seven days, from 17/01/2024 to 24/01/2024, the sell rate for Dollar to Naira in the black market varied between N1300 and N1380, with an average of N1,352.92.

Comparing today’s rate (25/01/2024) with the average rate of the past seven days, there has been a depreciation of 47.08 points, resulting in a fall of 3.48 percent from N1,352.92 to N1,400.00.

These fluctuations in the exchange rate highlight the volatility of the Naira against the Dollar in the parallel market.

Please note that exchange rates are subject to change and may vary depending on various factors such as economic conditions, market demand, and government policies.


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