This report is based on information gathered from black market FX operators. Specifically, the traders noted that they buy FX from customers at an average of N1655$1 and sell for N1665/$1.
However, they added that the rate could sometimes vary depending on the transaction, cash, or transfer form. that is to say, you will likely get a higher rate if you have physical cash to exchange.
How much is the dollar exchange rate to Naira in the Black Market today?
The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).
LAGOS PARALLEL MARKET RATES TODAY: dollar to naira exchange rate today black market.
Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
Buying Rate | N1655 |
Selling Rate | N1665 |
The local currency opened at N1665 per $1 at the parallel market otherwise known as the black market today, in Lagos Nigeria.
Even though the dollar to naira opened in the parallel market at N1665 per $1 today, IDOMA VOICE reports 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.
IDOMA VOICE reports that in the black market, the players buy a dollar for N1655 and sell for N1665 on
Friday, 20th September 2024.
The United Nations (U.N.) has projected that an additional 7 million Nigerians will face hunger…
As Nigerians express their frustrations over the recent fuel price hikes by the Nigerian National…
The Transmission Company of Nigeria (TCN) has announced the full restoration of electricity supply to…
The Naira experienced an appreciation on Friday at the official market, with a trading rate…
President Bola Tinubu, alongside an assembly of prominent dignitaries, paid final respects to the late…
May Edochie, the estranged wife of Nollywood actor Yul Edochie, has addressed misconceptions some men…