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Black Market Dollar To Naira Exchange Rate Today 31 October 2023

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Black market dollar to naira exchange rate today 31 October 2023 can be accessed below.

IMPORTANT NOTE: Please note that 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 a certain rate and the price can change (high or low) within hours.

How much is the Black market dollar to naira exchange rate today?

The local currency opened at N1,180.00 per $1 at the parallel market otherwise known as the black market today Tuesday, 31 October 2023, in Lagos Nigeria, after it closed at N1,100.00 per $1 on Monday, 30 October 2023.

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N1,170
Selling Rate N1,180

Even though the dollar to naira opened in the parallel market at ₦1,180 per $1 today, Newsrain 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.

Newsrain Nigeria reports that in the black market, the players buy a dollar for N1,170 and sell for N1,180 on Tuesday, 31 October 2023, after they purchased N1,140 and sold for N1,150 on Monday, 30 October 2023.

Meanwhile, Newsrain Nigeria reports that the USD started this week at ₦1,100 in Parallel Market also known as Black Market on Monday, October 30, 2023, in Lagos Nigeria, after it opened at  ₦1,170 last week on October 23, 2023.

Disclaimer: NEWSRAIN 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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