Contrary to speculations that the Nigerian Naira has appreciated to about N650 to an American Dollar, this online newspaper can report that the current exchange rate of the currency is stil between N1,250 to N1,421 to a Dollar.
This report is for those curious about the current exchange rate, which is fluctuating in various markets.
Accodding to findings at Bureau De Change (BDC), at Lagos Parallel Market (Black Market), players buy a Dollar for N1,250 and sell at N1,280 as at Sunday 31st March 2024, but the rate changed to N1,405 on Monday, 1st April, to N1,421 early Tuesday, 2nd April, 2024.
However, interested sellers and buyers should 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.