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 ₦751 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).
LAGOS PARALLEL MARKET RATES TODAY: dollar to naira exchange rate today black market.
8 February dollar to naira black market exchange rate: $1 dollar to naira = ₦751
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦747 |
| Selling Rate | ₦751 |
The local currency opened at N751.00 per $1 at the parallel market otherwise known as the black market today Wednesday, 7 February 2023, in Lagos Nigeria, after it closed at N755 per $1 on Tuesday, 5 February 2023.
Even though the dollar to naira opened in the parallel market at ₦751 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 N747 and sell for N751 on Wednesday, February 8, 2023, after they purchased N752 and sold for N755 on Tuesday, February 7, 2023.
Meanwhile, Newsone Nigeria reports that the USD started this week at ₦757 in Parallel Market also known as Black Market on Monday, February 6, 2023, in Lagos Nigeria, after it opened at ₦750 last week Monday, January 30, 2023.
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.