Dollar to Naira Black Market Rate Today, 9 September 2023 (UPDATED)

Dollar To Naira Black Market Exchange Rate, 9 September 2023

This is a special page where you can see the changing value of the US dollar compared to the Nigerian naira on the unofficial market as of September 9, 2023. We will keep updating this page with the newest rates. Remember, these rates can change quickly because people are always trading. So, come back here often to get the latest info.

Dollar to Naira 9 September 2023 Black Market Rate

On 9th September 2023, Bureau De Change (BDC) sources confirmed that the current exchange rate for dollar to naira at the Lagos Parallel Market, also known as the Black Market, is set at N920 for buying and N930 for selling. 

Dollars to Naira Black Market 9th September 2023 – Handy Conversion Data Table

Naira to Dollar Black Market 9th September 2023 – Handy Conversion Data Table

Dollar to Naira Rates News 9/09/2023

In Nigeria, a lot of people are worried about the falling value of our local currency, the Naira, especially when compared to the US Dollar in the unofficial market.

This issue is making many Nigerians anxious as they wonder if there’s any way to stabilize the Naira. Sadly, the strategies put in place by President Bola Tinubu don’t seem to be helping much.

The Dollar’s value just keeps increasing while the Naira seems to be going down.

Many people are asking if there is anything that hasn’t been done yet to fix this problem. They are concerned that the situation is not changing, despite the efforts made so far.

This uncertainty is leading to a lot of frustration and fear, with people not knowing what the future holds for the Naira.

Meanwhile, some folks in Nigeria have kind of gotten used to this state of things, but for many others, it is a constant battle. The Naira keeps getting weaker and the Dollar is becoming more and more powerful in the foreign exchange market.

The government is trying to make some changes to help, but it seems like these won’t work quickly.

A big problem we need to look at is how we rely too much on goods from other countries, and don’t sell enough of our own goods to the rest of the world. When we buy so much from other places, we have to use Dollars, and this isn’t good for our businesses or the overall economy.

Right now, in the black market, the exchange rate is really not in our favor, and people lose money when they change their Naira to Dollars.

Why is this happening, you ask? Well, it seems there are a lot more people who want Dollars than there are Dollars available. This, combined with a few other things, is causing the price of the Dollar to go up.

To make things worse, the few foreign currencies available are often held by just a few people, so there isn’t enough to go around, making the situation even more difficult.

Given all these issues, along with a recent move by BRICS countries to avoid using the Dollar for global trades, it’s obvious that Nigeria needs to think of new ways to deal with this.

Although bringing together exchange platforms is a good idea, it hasn’t really made a big difference in the market so far. So, it looks like we still have a long way to go before we find a solution that actually works