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How much is the Black market dollar to naira exchange rate today?
The local currency opened at N1,150.00 per $1 at the parallel market otherwise known as the black market today Sunday, 29 October 2023, in Lagos Nigeria, after it closed at N1,150.00 per $1 on Saturday, 28 October 2023
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1,140 |
| Selling Rate | N1,150 |
Even though the dollar to naira opened in the parallel market at ₦1,150 per $1 today, firenationreporters that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
Firenationreporters reports that in the black market, the players buy a dollar for N1,140 and sell for N1,150 on Sunday, 29 October 2023, after they purchased N1,140 and sold for N1,150 on Saturday, 28 October 2023.
Firenationreporters reports that the USD started this week at ₦1,170 in Parallel Market also known as Black Market on Monday, October 16, 2023, in Lagos Nigeria, after it opened at ₦1070 last week on October 16, 2023.
Disclaimer: FIRENATIONREPORTERS does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
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