Business & Finance

Black Market Dollar to Naira Exchange Rate Today, 26th February 2024

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Dollar to Naira Exchange Rate Black Market Update February 26, 2024

As of today, the 26th of February 2024, the black market exchange rate for the Dollar to Naira remains consistent with yesterday’s figures. According to sources at Bureau De Change (BDC) in Lagos, Nigeria, the parallel market indicates a buying rate of N1,650 and a selling rate of N1,680 for one US Dollar.

On the preceding day, the 25th of February 2024, market players bought a dollar for N1,650 and sold at N1,680. Despite fluctuations in the global financial landscape, the exchange rate at the black market in Nigeria has maintained stability, reflecting the ongoing dynamics of supply and demand.

It is essential to emphasize that the Central Bank of Nigeria (CBN) does not officially recognize the black market exchange rates, urging individuals involved in foreign exchange transactions to approach authorized banks. However, the black market remains a significant player in Nigeria’s forex market, offering an alternative avenue for currency exchange.

READ ALSO: Black Market Dollar to Naira Exchange Rate Today, 25th February 2024

While these rates serve as a guideline, it’s crucial to note that actual rates may vary based on location and individual transactions. Allmedia24.com emphasizes that forex rates are subject to change, and the rates presented here may differ from those encountered in the market.

In conclusion, the black market exchange rate for the Dollar to Naira stands at N1,650 for buying and N1,680 for selling as of the 26th of February 2024. Stay informed and exercise caution when engaging in currency exchange transactions.

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