IMPORTANT NOTE: The exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. It means that…As of today Monday, 29 May 2023 you can buy or sell 1 dollar at ₦766 and ₦770, and the price can change (high or low) within hours.
In the parallel market, Aboki buy and sell dollars in the streets of Lagos and other major cities in Nigeria.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N766 |
| Selling Rate | N770 |
The local currency opened at N770.00 per $1 at the parallel market otherwise known as the black market today Monday 29th May 2023 in Lagos Nigeria, after it closed at N766 per $1, the previous day, Sunday, 28 May 2023.
Even though the dollar to naira opened in the parallel market at N770 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.
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.
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