Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 7th January 2025
As of December 29, 2024, the exchange rate stood at around 1 USD = 1,660 NGN (buying rate) and 1 USD = 1,630 NGN (selling rate). However, it is essential to note that these rates may not reflect the current exchange rate, as black market rates can change rapidly.
The naira has been under pressure in recent times, with the country's foreign exchange reserves facing significant challenges. The Central Bank of Nigeria (CBN) has implemented various measures to stabilize the currency, including introducing a new foreign exchange policy and increasing dollar sales to Bureau de Change (BDC) operators.
Despite these efforts, the naira remains vulnerable to fluctuations, and the black market continues to play a significant role in determining the exchange rate. The CBN has warned against patronizing the black market, emphasizing the need to use official channels for foreign exchange transactions.
As the country navigates the complexities of the foreign exchange market, Nigerians are advised to stay informed about the latest developments and exchange rates. For the most up-to-date and accurate information, it is recommended to consult reputable online sources or visit local currency dealers.
https://www.naijanews.com/2025/01/07/black-market-dollar-usd-to-naira-ngn-exchange-rate-today-7th-january-2025/