Black market dollar to naira exchange rate today 1st May 2022 can be accessed below.
IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands.
How much is the exchange rate of Dollar to Naira in 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 May 1, 2022 (BLACK MARKET): dollar to naira exchange rate today black market
May 1 dollar to naira black market exchange rate: $1 dollar to naira = ₦587
Lagos parallel market (black market dollar exchange rate today)
The local currency opened at N587.00 per $1 at the parallel market otherwise known as the black market, today, Sunday, 1 May 2022, in Lagos Nigeria, after it closed at N587.00 per $1 on Saturday, 30 April 2022.
Even though the dollar to naira opened in the parallel market at ₦587 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.
News Rain Nigeria reports that on the black market, the players buy a dollar for N583 and sell for N587 on Sunday morning, May 1, 2022, after they bought N583 and sold for N587 on Saturday, 30 April 2022.
Meanwhile, USD started this week at ₦587 in Parallel Market also known as Black Market on Monday, April 25, 2022, in Lagos Nigeria, after it opened at #588 last week Monday, April 18, 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.