Dollar To Naira Exchange Rate Today 5th June 2022(Black Market)

LAGOS PARALLEL MARKET RATES 5 June 2022 (BLACK MARKET): dollar to naira exchange rate today black market

The local currency opened at N605.00 per $1 at the parallel market otherwise known as the black market, today, Sunday, 5 June 2022, in Lagos Nigeria, after it closed at N609.00 per $1 on Saturday, 4 June 2022.

Even though the dollar to naira opened in the parallel market at ₦605 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.

News Rain Nigeria reports that on the black market, the players buy a dollar for N600 and sell for N605 on Sunday, 5 June 2022, after they bought N605 and sold for N609 on Saturday, 4 June 2022.