The official dollar to the naira exchange rate in Nigeria today, including the Bureau De Change (BDC) rate and CBN rates.
What Is The Black Market Dollar To Naira Exchange Rate For Today?
The local currency opened at N751.00 per $1 at the parallel market otherwise known as the black market today Monday, 20 March 2023, in Lagos Nigeria, after it closed at N750 per $1 on Sunday, 19 March 2023.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N748 and sell at N751 on Monday, 20 March 2023, according to sources at Bureau De Change (BDC).
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦748 |
| Selling Rate | ₦751 |
What Is The Official Exchange Rate For Dollar To Naira Today?
The exchange rate between the Naira and the US dollar according to the data released on the FMDQ Security Exchange the official forex trading portal showed that the Naira opened at ₦458.4463 per dollar on Monday, 20 March 2023, and closed at ₦456.1722 per $1 on Sunday, 19 March 2023.
Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.
| 1 USD = 458.4463 NGN |
| 1 Dollars = 458.4463 Nigerian Naira |
| The USDNGN rate as of 20 Mar 2023 |
Even though the dollar opened in the parallel market for ₦751 per $1, the 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.
“The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it,” said the CBN Governor, Godwin Emefiele.
“I am sorry to say that I do not, and I do not intend to recognise any FX in the market.
“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it. If you want to sell the dollar, go to your bank and sell it,” he said during a press briefing on September 17, 2021.
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 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.
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