ADVERTISEMENT
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Wednesday, July 30, 2025
NewsOnline Nigeria
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
ADVERTISEMENT
Home Exchange Rates

BREAKING: Naira Falls Massively At Black Market, Nears N2K/$

A BDC operator in Lagos, Aliyu Sani, told NewsOnline that he sold dollars for N1705, and bought at 1,695/$. In Abuja, the rate was lower at N1,700.

by NewsOnline Nigeria
October 17, 2024
in Exchange Rates, Headline
0
Naira

Naira X Tinubu

Naira has fallen massively in the black market.

 

NewsOnline Nigeria reports that the value of the naira depreciated at the unofficial market on Wednesday as it traded at 1,705/dollar, according to Bureau De Change operators in Lagos and Abuja.

 

A BDC operator in Lagos, Aliyu Sani, told NewsOnline that he sold dollars for N1705, and bought at 1,695/$. In Abuja, the rate was lower at N1,700.

 

A currency trader, Suraju Ajao, said that he sold dollars for 1700/$ and bought at 1,690/$.

 

ALSO: Fuel Scarcity Bites Harder As FG Suspends Dangote’s Direct Sale To Marketers

 

On the Nigerian Autonomous Forex Exchange Market domiciled on the FMDQ Securities, the naira closed trading at 1659.69/$, indicating a 0.04 per cent depreciation from 1658.97/$ that it traded on Tuesday.

 

On the official market, the naira traded at a high of 1,682/$ and a low of 1,562.97/$.

The daily turnover dipped to $177.10 from $217.86m on Tuesday.

 

The value of the naira reached a new low on Monday, closing at 1,700/dollar, a 0.29 per cent decline compared to N1,695 to the dollar, which it exchanged last week Friday.

 

The World Bank has recently listed the naira as one of the worst-performing currencies in Sub-Saharan Africa in 2024.

 

As of August, the local depreciated by approximately 43 per cent year-to-date, ranking it among the weakest currencies alongside the Ethiopian birr and the South Sudanese pound.

 

The decline is attributed to surging demand for U.S. dollars in Nigeria’s parallel market, limited dollar inflows, and slow foreign exchange disbursements by the central bank.

ADVERTISEMENT
Previous Post

Fuel Scarcity Bites Harder As FG Suspends Dangote’s Direct Sale To Marketers

Next Post

BREAKING: Oil Marketers Break Silence On Lifting Dangote Petrol

Next Post
Dangote Petrol

BREAKING: Oil Marketers Break Silence On Lifting Dangote Petrol

Trending Stories

Latest Diplomatic Appointments

BREAKING: President Appoints Ambassador In Latest Diplomatic Appointments (FULL LIST)

FRSC

BREAKING: Appeal Court Bars FRSC From Seizing Licences, Vehicles

ADC

BREAKING: 28 Senators, 46 Reps Members Reportedly Join ADC (FULL LIST)

NECO 2025 BECE Results

NECO 2025 BECE Results Released, Check Your 2025 BECE Results Here

Peter Obi

BREAKING: Peter Obi Speaks On Joining PDP Amid ADC Coalition Controversies

Naira

BREAKING: Naira Falls Massively At Black Market, Nears N2K/$

WASSCE Results

BREAKING: WAEC Releases 2025 May/June Exam Results (Check Ur WAEC Results Here)

2027 PDP Presidential Ticket

BREAKING: ADC Speaks On Peter Obi Returning To Clinch 2027 PDP Presidential Ticket

Naira

Dollar To Naira Black Market Exchange Rate Today, 30 July 2025

Dangote

BREAKING: Dangote Takes Fresh Decision On ₦100bn Lawsuit Against NNPC, Others

Latest Stories

NNPCL Boss, Bayo Ojulari

BREAKING: NNPCL Boss, Bayo Ojulari Speaks On Sale Of Port Harcourt Refinery Amid Controversy

How To Watch BBNaija Season 10

How To Watch BBNaija Season 10 Live On GOtv, DStv, Showmax, Other Free Platforms

Peter Obi

BREAKING: Peter Obi Speaks On Joining PDP Amid ADC Coalition Controversies

ADC

BREAKING: 28 Senators, 46 Reps Members Reportedly Join ADC (FULL LIST)

FIRS

BREAKING: FIRS Stops Issuance of Tax Exemption Certificates to All Entities

Peter Obi

Peter Obi’s Possible Return to PDP Gains Momentum Amid Reconciliation Talks

ADC Coalition

BREAKING: ADC Coalition Faces Imminent Collapse Amid Peter Obi’s Return To PDP

Nigerian Governors

U.S. Embassy Slams Nigerian Governors for Lavish Spending Amid Widespread Poverty

NNPCL

BREAKING: NNPCL Gets Fresh Deadline To Account For Missing ₦210 Trillion

Naira

Dollar To Naira Black Market Exchange Rate Today, 30 July 2025

ADVERTISEMENT

NEWSONLINE NIGERIA

Get the Latest Naija News, Breaking News, Top Stories, World News, Business, Politics & Entertainment from NewsOnline Nigeria.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

ALERT US

Important Press Releases, Special Investigations: admin@newsonlineng.com

OFFICE ADDRESS

13 Poland Street, London, United Kingdom (UK)

Copyright © 2025 NewsOnline Nigeria

No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports

Copyright © 2023 Newsonline Nigeria