Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 20th July 2024

Black market dollar to naira exchange rate Saturday 20th July 2024 can be accessed below.

 

NewsOnline Nigeria has obtained the official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates. Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market. As of now, you can purchase 1 dollar at a certain rate now, however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within hours.

 

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1560 and sell at N1580 on Saturday 20th July 2024, according to sources at Bureau De Change (BDC).

 

Please 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.

 

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Buying Rate	N1560
Selling Rate	N1580

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	CBN Rate Today
Buying Rate	N1584
Selling Rate	N1585

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Average Fuel Price Rises To ₦750.17 Per Litre

The national average retail price for Premium Motor Spirit, commonly known as petrol, saw a significant year-on-year increase of 37.44%, rising to ₦750.17 per litre in June 2024 from ₦545.83 per litre in June 2023.

 

This data was revealed in a recent report by the Nigerian National Petroleum Corporation (NNPC).

 

Despite this substantial annual increase, the average retail price experienced a slight month-on-month decline of 2.53%, falling from ₦769.62 per litre in May 2024 to ₦750.17 per litre in June 2024.

 

The increase in petrol prices can be attributed to several factors, including fluctuations in global oil prices, exchange rate volatility, and changes in government policies regarding fuel subsidies.

 

The National Bureau of Statistics, NBS, report on Premium Motor Spirit,(Petrol) Price Watch for June 2024 disclosed that Benue State topped the price chart for the product at ₦864.55, followed by Jigawa and Rivers States with ₦847.00 and ₦810.00 respectively.

 

However, Lagos, Kwara and Ogun States emerged as the states with the lowest retail price for the product at ₦626.94, ₦650.00 and ₦670.63, respectively. Lastly, the South-South zone had the highest average retail price of ₦794.64, while the South-West zone had the lowest price of ₦696.42.