Dollar Slips Again: Naira Sparks Fresh Reactions

The naira recorded another movement against the United States dollar at the Lagos parallel market as traders quoted new exchange rates on Saturday, January 10.

Market sources disclosed that the dollar was sold at ₦1,485 and bought at ₦1,479 by Bureau De Change operators, reflecting continued pressure on the local currency amid sustained demand for foreign exchange.

Currency watchers say the marginal shift highlights ongoing uncertainty in the forex market, driven by import demand, dollar scarcity and economic reforms. While many Nigerians rely on the black market for quick access to dollars, the Central Bank of Nigeria has repeatedly warned that it does not recognise parallel market rates.

The apex bank has advised individuals and businesses seeking foreign exchange to transact through licensed banks and authorised channels, insisting that official mechanisms remain the safest option.

As the new week approaches, traders and consumers are closely monitoring movements in the dollar-to-naira exchange, amid expectations of further volatility.

Dollar to Naira Black Market Today Rate

Dollar to Naira CBN Today Rate

Please note that buy or sell forex may be different, because prices vary.

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