IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. What it means is that…you can buy or sell 1 dollar at ₦745 and the price can change (high or low) within hours.
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.
October 16th dollar to naira black market exchange rate: $1 dollar to naira = ₦745
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 742 |
| Selling Rate | 745 |
The local currency opened at N745.00 per $1 at the parallel market otherwise known as the black market today Sunday, 16th October 2022, in Lagos Nigeria, after it closed at N745.070 per $1 on Friday, 14th October 2022.
Even though the dollar to naira opened in the parallel market at ₦745 per $1 today, News Rain Nigeria 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.
News Rain Nigeria reports that in the black market, the players buy a dollar for N742 and sell for N745 on Sunday, October 16, 2022, after they bought N740 and sold for N745 on Saturday, 15th October 2022.
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