Naira
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 ₦588 and the price can change (high or low) within hours.
Newsone 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).
Dollar to naira exchange rate for Tuesday, May 10 goes for [N584 to buy and N588 to sell].
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 584 |
| Selling Rate | 588 |
Lagos parallel market (black market dollar exchange rate today: $1 dollar to naira today black market)- Aboki dollar rate
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The local currency opened at N588.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 9 May 2022, in Lagos Nigeria, after it closed at N585.00 per $1 on Sunday, 8 May 2022.
Even though the dollar to naira opened in the parallel market at ₦588 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.
Newsone Nigeria reports that on the black market, the players buy a dollar for N584 and sell for N588 on Tuesday, May 10, 2022, after they bought N584 and sold for N588 on Monday, May 9, 2022.
Meanwhile, Newsone Nigeria reports that the USD started this week at ₦588 in Parallel Market also known as Black Market on Monday, May 9, 2022, in Lagos Nigeria, after it opened at 589 last week Monday, May 2, 2022.
Disclaimer: NEWSONE 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.