The ongoing volatility of the black market exchange rate between the US dollar and the Nigerian naira persists due to the continued disparity between official and unofficial rates.
As of today, March 22nd, 2024, the black market rate for exchanging 100 US dollars to naira stands at:
Buying rate: ₦150,100
Selling rate: ₦150,200
In essence, purchasing 100 US dollars in the black market requires 150,100 naira, while selling the same amount yields N150,200.
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