Black Market/CBN Exchange Rate Today, 1st February 2025

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Implications of Exchange Rate Disparities

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The gap between the official and parallel market rates underscores the challenges in Nigeria’s forex system. Persistent disparities highlight the pressure on the naira, forex supply constraints, and the struggles businesses and individuals face in sourcing foreign currency for legitimate transactions.

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Foreign exchange rates also vary across commercial banks and international money transfer operators.

These discrepancies create arbitrage opportunities but also pose serious challenges for businesses reliant on stable forex access. Addressing these fluctuations and fostering stability remains a key priority for policymakers in Nigeria.

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