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 a certain rate and the price can change (high or low) within hours.
How much is dollar to naira today in black market?
News Rain Nigeria reports that the Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).
The local currency opened at ₦865.00 per $1 at the parallel market otherwise known as the black market, today, Saturday, 22 July 2023, in Lagos Nigeria, after it closed at ₦860.00 per $1 on Friday, 21 July 2023.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦855 |
| Selling Rate | ₦865 |
Even though the dollar to naira opened in the parallel market at ₦865 per $1 today, Newsone reports that the Central Bank of Nigeria (CBN) does not recognize 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.
Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.
| 1 USD = 792.0043 NGN |
| 1 Dollars = 792.0043 Nigerian Naira |
| The USDNGN rate as of 22 Jul 2023 |
News Rain Nigeria reports that on the black market, the players buy a dollar for ₦855 and sell for ₦865 on Saturday, July 22, 2023, after they bought ₦840 and sold for ₦860 on Friday, July 21, 2023.
Meanwhile, News Rain Nigeria reports that the USD started this week at ₦820 in Parallel Market also known as Black Market on Monday, July 18, 2023, in Lagos Nigeria. after it opened at ₦ 800 last week Monday, July 10, 2023.
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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