Black Market Exchange Rates for Dollar to Naira on February 17, 2024

Mubashir Shehu

8 months ago

In the ever-dynamic world of foreign exchange, the Black Market Exchange Rates for Dollar to Naira on February 17, 2024, continue to be a focal point for traders and individuals seeking real-time currency value insights. As the Central Bank of Nigeria (CBN) maintains its stance against recognizing the parallel market, it remains an essential player in the forex landscape.

On the preceding day, February 16, 2024, the Lagos Parallel Market reported a buying rate of N1,583 and a selling rate of N1,600 for a US dollar. However, as the forex market experiences fluctuations, today’s rates reveal a slight adjustment.

As of February 17, 2024, the Black Market reflects a buying rate of N1,650 and a selling rate of N1,670. This indicates a change in the forex landscape, suggesting a depreciation of the Naira against the US Dollar within a day.

It’s crucial to note that these rates are subject to market dynamics and may vary based on location and other factors. Individuals engaging in forex transactions should exercise caution and consider consulting with their respective banks, as the CBN continues to emphasize the importance of official channels for foreign exchange transactions.

READ ALSO: Black Market Dollar to Naira Exchange Rate Soars on 16th February 2024

While the information provided here is sourced from reliable channels, it’s important to acknowledge that forex rates are influenced by various factors, and prices may fluctuate. Allmedia24.com does not determine these rates, and individuals should be aware that the rates they encounter might differ from those outlined in this article.

As the Naira faces challenges on the parallel market, staying informed about the latest developments in forex rates is crucial for making well-informed financial decisions. Keep in mind that forex markets are highly dynamic, and rates can change rapidly, requiring vigilance and adaptability from those participating in currency exchanges.

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