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Today » News » Dollar to Naira Black Market Exchange Rate Today, 5th May 2024

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Dollar to Naira Black Market Exchange Rate Today, 5th May 2024

Suotunimi Orufa

05/05/2024•2 minute read

Dollar to Naira Black Market Exchange Rate Today, 5th May 2024

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The official exchange rate of the US dollar to the Nigerian Naira, as of today, 5th May 2024, is ₦1,400 per US dollar. The black market offers a higher selling rate than the official market.

The Naira has experienced a more pronounced weakening in the parallel market, the black market. The unofficial exchange rate dropped to ₦1,380 per dollar, signifying a 1.45% decline from the ₦1,360 rate observed at the end of April.

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The official market closed the week to trade at ₦1,400.40 per dollar, reflecting a 0.83% decrease compared to the previous close of ₦1,390.96 in April. Data from FMDQ, the official platform for foreign exchange trading in Nigeria, revealed a week of fluctuations. The Naira’s value ranged from a high of ₦1,445 to a low of ₦1,299.42 against the dollar, resulting in a significant spread of ₦145.58.

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2 Comments

This Post Has 2 Comments

Effiong says:

05/05/2024 at 1:44 pm

i like money hw can i reach my desire

Reply
1. Today Staff says:
  
  05/05/2024 at 3:21 pm
  
  Explore the 10 Profitable Home Business Ideas You Can Start Today in Nigeria https://today.ng/education/business/10-profitable-home-business-ideas-you-can-start-today-in-nigeria/
  
  Reply

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