IMPORTANT NOTE: The exchange rate changes hourly.… it depends on the volume of dollars available and the Demands.
It means that…you can buy or sell 1 dollar at ₦752 and ₦755, and the price can change (high or low) within hours.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦752 |
| Selling Rate | ₦755 |
The local currency opened at N755.00 per $1 at the parallel market otherwise known as the black market today Saturday, 28 January 2023, in Lagos Nigeria, after it closed at N750 per $1 on Friday, 27 January 2023.
Even though the dollar to naira opened in the parallel market at N755 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 N752 and sell for N755 on Saturday morning, January 28, 2023, after they purchased N748 and sold for N750 on Friday, 27 January 2023.
Meanwhile, News Rain Nigeria reports that the USD started this week at ₦757 in Parallel Market also known as Black Market on Monday, January 23, 2023, in Lagos Nigeria, after it opened at ₦747 last week Monday, January 16, 2023.
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