Dollar To Naira Rate Today March 12, 2024

What is the black market Dollar To Naira rate today, March 12, 2024?

The Eagle reports that the dollar to naira exchange rate today March 12, 2024, trades at N1620/$ at the parallel market otherwise known as the black market in Lagos and Abuja.

The buying rate sells at N1615/$ while the selling rate trades at N1620/$.

In the official market, the naira exhibited a marginal strengthening against the US dollar, concluding at N1,617.96/$1.

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This marks a 0.58% improvement compared to the previous week’s Friday closing rate of N1,627.4/$1.

Data from NAFEM showed that the forex transactions amounted to $96.13 million on the week’s first trading day, marking a significant drop of 64.31%, compared to the previous day’s turnover of $269.35 million.

In the Peer2Peer segment, the local currency is traded at N1650/$.