BREAKING: Dollar To Naira Exchange Rate Today As Naira Fall Massively

Naira has started the new week with a massive fall at the black market.

News Rain Nigeria reports that the Nigerian official currency, Naira on Monday, January 24, 2022, fell massively against the British Pounds and Euro, days after maintaining same position at the parallel market better known as the black market.

This online news platform understands that while the naira has fallen against Pounds and Euro, it however, maintained the position it closed last week against the United States dollar at the black market.

A survey conducted at the Bureau De Change (BDC) market in Ogba area of Lagos, Nigeria’s commercial city, on Monday morning, January 24, 2022, shows that the naira to usd exchanged at N570/$1, while pounds to naira ex changed at N755/£1 and euro to naira exchanged at N645/1€ in what is a massive fall of the naira against pounds and euro.

New Week: Monday, January 24, 2022 black exchange rates:

1 dollar to naira = N570/$1

1 pound to naira = N645/1€

1 euro to naira = N755/£1

News Rain Nigeria reports that in the black market, the players buy pounds for ₦750 and sell for ₦755 on Monday morning, January 24, 2022, after they bought ₦730 and sold for ₦735 on Sunday, January 23. This represents a change of N20 from last week.

News Rain  Nigeria reports that in the black market, the players buy euro for ₦640 and sell for ₦635 on Monday morning, January 24, 2022, after they bought ₦630 and sold for ₦635 on Sunday morning, January 23. This represents a change of N10 from last week.

News Rain Nigeria reports that at the black market, the players buy a dollar for N565 and sell for N570 on Monday morning, January 24, 2022 after they bought N565 and sold for N570 on Sunday, 23 January 2022.

Even though the dollar to naira opened in the parallel market at ₦570 per $1 today,  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.