All News
Black Market Dollar To Naira Exchange Rate Today 5 February 2024
Black market dollar to naira exchange rate today 5 February 2024 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 ₦560 and the price can change (high or low) within hours.
Newsone Nigeria 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.
February 5 dollar to naira official market exchange rate: $1 dollar to naira =₦905
How much is dollar to naira exchange rate today official rate?
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 ₦904 per dollar on Monday, 5 February 2024, after it closed at ₦905.00 per $1 on Sunday, 4 February 2024.
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 February 5, 2024 (BLACK MARKET): dollar to naira exchange rate today black market
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦1,440 |
| Selling Rate | ₦1,450 |
February 5 dollar to naira black market exchange rate: $1 dollar to naira = ₦1,450
Lagos parallel market (black market dollar exchange rate today)
The local currency opened at ₦1,450.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 5 February 2024, in Lagos Nigeria after it closed ₦1,440.00 per $1 on Sunday, 4 February 2024.
Even though the dollar to naira opened in the parallel market at ₦1,450 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 at the black market, the players bought a dollar for ₦1,440 and sold for ₦1,450 on Monday, 5 February 2024, after they bought ₦1,430 and sold for ₦1,440 on Sunday, 4 February 2024.
Meanwhile, Newsone Nigeria reports that the USD started this week at ₦1,450 in Parallel Market also known as Black Market on Monday, 5 February 2024 in Lagos Nigeria, after it opened at ₦1,400 last week Monday, January 29, 2024.
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.
