BREAKING: See Exchange Rate Today, As Naira Falls At Black Market

Naira has fallen at the black market for the 2nd time in 2022 with new exchange rate emerging.

News Rain Nigeria reports that the Nigerian official currency, Naira has fallen against dollar for the second time in the new year, five days after it fell for the first time this year after maintaining N560/per $1 at the black market since the beginning of the year.

This online news platform understands that the naira has fallen against the United States dollar at the black market for the second time since the start of the new year 2022, exchanging at N570/per $1, days after it fell for the first time to exchange at N565 per dollar to naira.

A survey conducted at the Bureau De Change (BDC) market in Ogba area of Lagos, Nigeria’s commercial city, on Monday evening, January 10, 2022, shows that the naira to usd exchanged at N570/$1, falling from the N565 position of 1 dollars to naira it held on January 5, 2022, weeks after usd to naira exchanged for N530/$1.

 

BREAKING: See Exchange Rate Today, As Naira Falls At Black Market

 

The local currency opened at N570.00 per $1 at the parallel market

otherwise known as the black market on Monday, 10 January 2022, in Lagos Nigeria after it closed N567.00 per $1 on Sunday, 9 January 2022.

Even though the dollar to naira opened in the parallel market at ₦565 per $1 today, the Central Bank of Nigeria (CBN) does not recognize 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.