IMPORTANT NOTE: 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 ₦742 and ₦745, and the price can change (high or low) within hours.
How much is the exchange rate of Dollar to Naira in Black Market today?
The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).
LAGOS PARALLEL MARKET RATES TODAY: dollar to naira exchange rate today black market.
January 14 dollar to naira black market exchange rate: $1 dollar to naira = ₦745
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦742 |
| Selling Rate | ₦745 |
The local currency opened at N745.00 per $1 at the parallel market otherwise known as the black market today Saturday, 14 January 2023, in Lagos Nigeria, after it closed at N742 per $1 on Friday, 13 January 2023.
Even though the dollar to naira opened in the parallel market at N745 per $1 today, NEWS-ONE 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.
Newsone Nigeria reports that in the black market, the players buy a dollar for N742 and sell for N745 on Saturday morning, January 14, 2023, after they purchased N738 and sold for N742 on Friday, 13 January 2023.
Meanwhile, NEWS ONE NIGERIA reports that the USD started this week at ₦747 in Parallel Market also known as Black Market on Monday, January 9, 2023, in Lagos Nigeria, after it opened at ₦741 last week Monday, January 2, 2023.