Black Market Dollar To Naira Exchange Rate Today 16th November 2021

Black market dollar to naira exchange rate today 16th November 2021 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. What it means is that…you can buy or sell 1 dollar at ₦540 and the price can change (high or low) within hours.

Newsone has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

November 16 dollar to naira official market exchange rate: $1 dollar to naira =₦414.55

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

READ ALSO: Black Market Dollar To Naira Exchange Rate Today 17th November 2021

The exchange rate between the Naira and the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira opened at ₦414.55 per dollar on Tuesday, 16 November 2021, after it closed at ₦415.10 per $1 on Monday, 15 November 2021. This represents a change of 0.20%.

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How much is 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 November 16, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

CBN Governor, Godwin Emefiele.

November 16 dollar to naira black market exchange rate: $1 dollar to naira = ₦540

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N540.00 per $1 at the parallel market otherwise known as the black market, today, Tuesday, 16 November 2021, in Lagos Nigeria after it closed N541.00 per $1 on Monday, 15 November 2021.

Even though the dollar to naira opened in the parallel market at ₦540 per $1 today, Newsone 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 the black market, the players buy a dollar for N537 and sell for N540 on Tuesday morning, November 16, 2021 after they bought N537 and sell for N541 on Monday, 15 November 2021.

Meanwhile, Newsone Nigeria reports that the USD started this week at ₦541 in Parallel Market also known as Black Market on Monday, November 15, 2021 in Lagos Nigeria, after it opened at  ₦565 last week Monday, November 8, 2021.

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.