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 ₦698 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.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.
| 1 USD = 422.5602 NGN |
| 1 Dollars = 422.5602 Nigerian Naira |
| The USDNGN rate as of 31 Aug 2022 at 2:25 PM |
Below you can see the chart for the Nigerian Naira to Dollar rate today compared to the Dollar.
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 ₦422.5602 per dollar on Wednesday, August 31, 2022, after it closed at ₦421.1189 per $1 on Tuesday, August 30, 2022.
August 31 dollar to naira black market exchange rate: $1 dollar to naira = ₦698
How much is exchange rate of Dollar to Naira in Black Market today?
US Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black market dollar to naira |
| Buying Rate | 696 |
| Selling Rate | 698 |
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 August 31, 2022 (BLACK MARKET): dollar to naira exchange rate today black market.
Black market dollar to naira exchange rate today
The local currency opened at N698.00 per $1 at the parallel market otherwise known as the black market, today, Wednesday, August 31, 2022, in Lagos Nigeria after it closed at N695.00 per $1 on Tuesday, August 30, 2022. This represents a change in N3 from the previous day.
Even though the dollar to naira opened in the parallel market at ₦698 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 on the black market, the players buy a dollar for N696 and sell for N698 on Wednesday, August 31, 2022, after they bought N690 and sold for N695 on Tuesday, August 30, 2022.
Meanwhile, Newsone Nigeria reports that the USD started this week at ₦687 in Parallel Market also known as Black Market on Monday, August 22, 2022, in Lagos Nigeria, after it opened at ₦685 last week Monday, August 15, 2022.