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.
News Rain Nigeria reports that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N750 and sell at N755 on Tuesday 31 January 2023, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦750 |
| Selling Rate | ₦755 |
The local currency opened at N750.00 per $1 at the parallel market otherwise known as the black market today Tuesday, 31 January 2023, in Lagos Nigeria, after it closed at N750.00 per $1 on Monday, 30 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 N750 and sell for N755 on Tuesday morning, January 31, 2023, after they purchased N750 and sold for N755 on Monday, 30 January 2023.
Meanwhile, USD started this week at ₦755 in Parallel Market also known as Black Market on Monday, January 30, 2023, in Lagos Nigeria, after it opened at ₦743 last week Monday, January 23, 2023.
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