Today's Dollar to Naira Black Market Rate: May 25, 2024

In Nigeria, the exchange rate between the US dollar and the Nigerian Naira on the black market remains a significant economic indicator, showing not only currency value but also broader economic trends and sentiments. As of May 25, 2024, the dollar to Naira black market rate is a topic of interest and concern for many Nigerians.

The fluctuation of the Naira against the dollar has been a persistent issue in Nigeria's economy, which is influenced by various factors including government policies, oil prices, foreign exchange reserves, and global economic conditions.

The black market rate, also known as the parallel market rate, differs from the official exchange rate set by the Central Bank of Nigeria (CBN). While the official rate is more stable and controlled by the government, the black market rate is determined by supply and demand dynamics, as well as other factors such as speculation and market sentiment.

As of today, the dollar to Naira black market rate stands at ₦1480 – ₦1555. It's important to note that this rate is subject to change anytime, sometimes even within the same day, reflecting the volatility of the black market.

Please note that the rate stated above is the approximated rate of the dollar to Naira Black Market exchange rate today 25 May 2024 as different cities in Nigeria has their own buying and selling rate. You can read the complete article through the link below to see how much each city sells and buy their dollars.

https://www.lanegist.com/dollar-to-naira-black-market-rate-today-updated/