Dollar To Naira Exchange Rate Today 11th April 2022(Black Market)

The local currency opened at N587.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 11 April 2022, in Lagos Nigeria, after it closed at N585.00 per $1 on Sunday, 10 April 2022.

Even though the dollar to naira opened in the parallel market at ₦587 per $1 today, Newsone reports that 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.

News Rain Nigeria reports that on the black market, the players buy a dollar for N581 and sell for N587 on Monday morning, April 11, 2022, after they bought N580 and sold for N585 on Sunday, 10 April 2022.

Meanwhile, USD started this week at ₦587 in Parallel Market also known as Black Market on Monday, April 11, 2022, in Lagos Nigeria, after it opened at 589 last week Monday, April 4, 2022.

Disclaimer: NEWS RAIN NIGERIA 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.