Naira to Dollar Black Market Rate Today 19th September 2023
Monday 18 September 2023
Comment
Naira to Dollar Black Market Rate: USD to NGN Exchange Rate on 19th September 2023
In the ever-volatile world of currency exchange rates, the black market, also known as the parallel market, plays a significant role in Nigeria. On Sunday, 19th September 2023, the Dollar to Naira exchange rate in the Lagos Parallel Market (Black Market) stood at a buying rate of N950 and a selling rate of N955, according to reliable sources in the Bureau De Change (BDC) sector.
It's important to note that these rates are subject to change, and the prices individuals receive when buying or selling forex may vary from those reported here due to market fluctuations. CONTINUE READING......
The Central Bank of Nigeria (CBN) has consistently maintained its stance of not recognizing the parallel market, often cautioning individuals against engaging in forex transactions in this unofficial market. Instead, the CBN advises Nigerians to approach their respective banks for their foreign exchange needs.
For those who wonder about the significance of the parallel market, it's a reflection of the supply and demand dynamics of the foreign exchange market in Nigeria. Factors such as economic conditions, government policies, and global market trends can influence these rates. Consequently, individuals and businesses often turn to the black market when official channels face limitations or delays in meeting their forex requirements.
As the economic landscape continues to evolve, it's crucial for individuals and businesses alike to stay informed about the latest exchange rates and to make informed decisions when engaging in forex transactions. While the black market serves a purpose in meeting immediate forex needs, it's essential to exercise caution and ensure compliance with all relevant regulations. CONTINUE READING........
Please remember that the rates mentioned here are specific to the date of 19th September 2023 and are provided for informational purposes only. Exchange rates can fluctuate rapidly, so it's advisable to check with reputable sources or financial institutions for the most up-to-date rates before conducting any currency exchange transactions.
Follow the Bz News 24/7 channel on WhatsApp: https://whatsapp.com/channel/0029Va4hi718vd1Mifphp11s
FOLLOW US OUR FACEBOOK PAGE NOW:
DOWNLOAD OUR ANDROID APP NOW:
SUBSCRIBE OUR YOUTUBE CHANNEL NOW: https://youtube.com/@bznews247
0 Response to "Naira to Dollar Black Market Rate Today 19th September 2023"
Post a Comment
Tell us what you think about this article?