Dollar to Naira Black Market Rate 25 September 2023
Dollar to Naira Black Market Rate 25 September 2023
The dollar to naira black market rate is the exchange rate at which dollars can be bought and sold on the unofficial market. This market is also known as the parallel market, and it is often used by people who need to exchange dollars quickly or who do not have access to the official foreign exchange market.
The black market exchange rate is usually higher than the official exchange rate, and it can fluctuate depending on a number of factors, such as demand for dollars, supply of dollars, and the overall economic situation in Nigeria.
As of September 25, 2023, the dollar to naira black market rate is N985 for buying and N988 for selling. This means that you can buy one dollar for N985 and sell one dollar for N988.
The dollar to Naira prices in the table below
| Dollars ($) | Buying (₦) | Selling (₦) |
|---|---|---|
| 1 | 985 | 988 |
| 2 | 1970 | 1976 |
| 5 | 4925 | 4940 |
| 10 | 9850 | 9880 |
| 15 | 14775 | 14820 |
| 20 | 19700 | 19760 |
| 25 | 24625 | 24700 |
| 50 | 49250 | 49400 |
| 100 | 98500 | 98800 |
| 500 | 492500 | 494000 |
| 1000 | 985000 | 988000 |
| 2500 | 2462500 | 2470000 |
| 5000 | 4925000 | 4940000 |
| 10000 | 9850000 | 9880000 |
Please note that these rates are subject to change and may vary depending on the location and vendor.
If you are planning to buy or sell dollars on the black market, it is important to be aware of the risks involved. The black market is unregulated, and there is no guarantee that you will get the exchange rate that you are quoted. Additionally, you may be at risk of fraud or theft.
If you need to exchange dollars, it is always best to do so through a licensed and regulated foreign exchange dealer. However, if you need to exchange dollars quickly or do not have access to the official foreign exchange market, the black market may be your only option.
Here are some tips for staying safe when exchanging dollars on the black market:
- Only exchange dollars with people you know and trust.
- Meet in a public place where there are other people around.
- Be aware of your surroundings and be prepared to leave if you feel uncomfortable.
- Do not exchange large amounts of money at once.
- Count your money carefully before and after the exchange.
- Be aware of the latest scams and fraud schemes.
If you are unsure about whether or not to exchange dollars on the black market, it is always best to err on the side of caution and use a licensed and regulated foreign exchange dealer.
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