The pressure on the Parallel Market (Black Market) Dollar rates continues as the exchange rate differential closes up with the official bank rate.
At the Lagos Parallel Market players bought a dollar for N1460 and sold at N1470 on Saturday 3rd February 2024, according to sources at Bureau De Change (BDC).
This comes as the Central Bank of Nigeria (CBN) insists it does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Exchange Rates as of close of business on Saturday, February 3,
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary and dealers determine their prices.
However, these figures are the average.