News Rain Nigeria has obtained the official Naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates. Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market. As of now, you can purchase 1 dollar at ₦965 and sell it at ₦970, however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within hours.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 965 |
| Selling Rate | 970 |
The local currency opened at N970 per $1 at the parallel market otherwise known as the black market today Sunday, 24 September 2023, in Lagos Nigeria, after it closed at N970 per $1 on Saturday, 23 September 2023.
Even though the dollar to naira opened in the parallel market at ₦960 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.
The CBN Dollar to naira exchange rate today: The exchange rate for a dollar to naira at the official window is N735.07 as of Sunday, 24 September 2023, according to the data published by CBN.
| 1 USD = N799.90 |
| 1 Dollars = N774.63 |
| The USDNGN rate as of 24 Sep 2023 at 8:0 AM |
Meanwhile, News Rain Nigeria reports that the USD started this week at ₦960 in Parallel Market also known as Black Market on Monday, September 18, 2023, in Lagos Nigeria, after it opened at ₦860 last week Monday, September 11, 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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