Dollar To Naira Rate Today March 26, 2024

What is the black market dollar to naira exchange rate today March 26, 2024?

The Eagle reports that the dollar to naira rate today March 26, 2024, at the black market trading segment today sells at N1420/$ in Lagos and Ibadan.

The naira yesterday appreciated to N1,408. 04 per dollar in the Nigerian Foreign Exchange Market (NAFEM) yesterday.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,408.04 per dollar from N1,431.49 per dollar last week Friday, indicating N23.45 appreciation for the naira.

Consequently, the margin between the parallel market rate and NAFEM narrowed to N21.96 per dollar from N38.51 per dollar last week Friday.

Meanwhile, The Central Bank of Nigeria disclosed that it will be allocating $10,000 to each Bureau de Change operator at N1,251/$.

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This was contained in a circular made available to the media and signed by the bank’s Director, Trade and Exchange Department, Dr Hassan Mahmud on Monday.

The apex bank directed each BDC to sell the dollars to eligible customers at a rate not exceeding 1.5 per cent above the purchase price, implying the BDCs are not expected to sell above N1,269/$1.